Rönesans Enerji Launches Pioneering Green Finance Framework to Accelerate Sustainable Energy Investments in Turkey

Rönesans Enerji, a joint venture between Rönesans Holding and TotalEnergies, is making waves in the Turkish energy sector with the launch of its innovative Green Finance Framework. This groundbreaking initiative marks a significant step towards achieving its goal of becoming one of Turkey’s top 3 green energy companies.

The Green Finance Framework, a first of its kind for Rönesans Holding, is meticulously designed to attract financial investments towards projects that champion environmental sustainability. Aligned with international best practices, including the Green Bond Principles, the Green Loan Principles, and the Capital Markets Board of Turkey’s guidelines, the framework ensures its applicability across both national and international green financing instruments.

Rönesans Enerji is strategically leveraging the framework to gain easier access to green financing instruments that support renewable energy. The company aims to capture a significant share of Turkey’s ambitious green energy investment targets outlined in the National Energy Plan, aiming to achieve 7-10% of the total green energy investments.

This commitment to sustainability has not gone unnoticed. ING, a global financial institution, has played a vital role as a sustainability advisor in the preparation and publication of the framework. The framework’s comprehensive scope includes a wide range of renewable energy sources, encompassing hydroelectric, wind, and solar power, alongside other renewable options like bioenergy and geothermal. Furthermore, the framework extends its reach to energy storage systems and strategically embraces green hydrogen production and storage technologies, positioning Rönesans Enerji as a pioneer in this emerging field within Turkey.

The Green Finance Framework has received a positive assessment from ISS Corporate Solutions, confirming its adherence to relevant standards and solidifying its credibility as a robust and comprehensive framework in the Turkish energy production sector.

İpek Ilıcak Kayaalp, Board of Directors of Rönesans Holding, emphasizes the significance of this milestone, stating: “We are committed to building a better, more sustainable future. We continue our journey with determination, aiming to set an example in every sector in which we operate.” She further highlights Rönesans Holding’s strength in forging international partnerships and securing favorable financing, with over EUR 8 billion invested in Turkey, primarily in collaboration with international banks. “The Green Finance Framework will further facilitate our access to green finance instruments, enabling us to contribute even more meaningfully to Turkey’s sustainable future,” she adds.

Emre Hatem, Board Member and Energy Group President at Rönesans Holding, expresses confidence in achieving the company’s goal of becoming a top green energy player in Turkey. “Since its establishment, Rönesans Enerji has solely invested in green energy and will continue to grow with a 100% green energy portfolio in the future. We are committed to bringing 2000MW of green energy capacity online by 2028, and in the first phase, we aim to achieve an installed capacity of over 700 MW by the end of 2026 through our current projects under construction and development.”

ING, a leading proponent of sustainable finance, applauds Rönesans Enerji’s commitment. Bas Bittink, Head of Turkey and Middle East Debt Capital Markets at ING, states: “As we seek to help our clients build a sustainable future, the ING team was honored partnering up with Rönesans Enerji. The established Green Finance Framework and Second Party Opinion have set a new regional best practice and will support attracting further dedicated financing towards the Turkish renewable energy sector.” Ayşegül Akay, ING Turkey Wholesale Banking Executive Vice President, further emphasizes ING’s dedication to sustainability. “ING has been actively involved in sustainable finance for over 30 years, and we are committed to tripling our financing for renewable energy to EUR 7.5 billion annually by 2025. We believe that green transformation requires a collective effort, and we are proud to contribute to Turkey’s green transformation journey by leveraging our expertise and network. We believe that Rönesans Enerji’s Green Financing Framework can serve as a catalyst for the transformation of the energy sector in Türkiye and bring the necessary financing for this transformation.”

Rönesans Enerji’s Green Finance Framework sets a new standard for sustainability in the Turkish energy sector, attracting investments that align with the global movement towards a greener future. The company’s ambitious plans and dedication to sustainable practices are poised to significantly impact the energy landscape of Turkey, paving the way for a more sustainable and environmentally responsible future.

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