Sabanci Renewables Closes Financing For Two Texas Solar Projects

(MENAFN- Newsfile Corp) Sabanci Renewables Closes Financing for Two Texas Solar Projects Sabanci Renewables closes project financing with the participation of four international banks and tax equity financing with Advantage Capital, with total transaction value exceeding $530 million, for two Texas solar projects totaling 286 MWdc.

June 01, 2026 12:28 PM EDT | Source: B2Press BV

Austin, Texas--(Newsfile Corp. - June 1, 2026) - Sabanci Renewables, the U.S.-based renewables platform of Sabanci Group with deep expertise in the energy sector, has completed $382 million of project financing and $151 million of tax equity financing for two solar energy projects in Texas, marking a further step in the company's expansion within the ERCOT (Electric Reliability Council of Texas) market. The Pepper Solar Power Plant, having a capacity of 156 MWdc in McLennan County, and the Lucky 7 Solar Power Plant, totaling 130 MWdc in Hopkins County, represent a combined capacity of 286 MWdc. Both projects are expected to achieve commercial operation by the end of the second half of 2027.

Sabanci Renewables closes financing for two Texas solar projects

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The financial closes establish the capital structure required to advance both projects into the construction and delivery phases. The transactions reflect a coordinated approach by combining senior debt and a tax equity financing structure to support long-term asset performance.

International banks support structured project financing

The financing package includes a construction loan, a tax equity bridge loan, and non-cash credit facilities provided by NORD/LB, MUFG, BBVA, and Intesa Sanpaolo, all of which acted as a coordinating lead arranger and brought the transaction to the closing together. This debt financing was complemented by a tax equity investment commitment from Advantage Capital, forming a complete external funding framework tailored to the project's lifecycle requirements. Troutman Pepper Locke and Husch Blackwell served as legal and local counsel for Sabanci Renewables, both for project finance and tax equity finance agreements. Foley & Lardner served as lenders' legal counsel, whereas Orrick, Herrington & Sutcliffe and McGuireWoods acted as legal and local counsel for Advantage Capital. Carbon Reduction Capital (CRC-IB) also served as the exclusive financial advisor for tax equity placement.

The combination of international banks and a specialized tax equity investor underscores the role of diversified capital sources in supporting utility-scale solar development. The structure enables efficient capital deployment while aligning financial stakeholders with long-term operational outcomes.

Tolga Kaan Doğancıoğlu, Strategic Investments and Operations President, Sabanci Group

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"The energy demand growth in Texas is still strong, and we are proud to contribute to meeting this demand by investing in new solar projects. Project financing and tax equity mechanisms remain key components of project funding. By incorporating a balanced mix of debt, tax equity, and shareholder equity, we have established a framework that supports both construction execution and long-term asset management," stated Tolga Kaan Doğancıoğlu, Strategic Investments and Operations President, Sabanci Group. "The participation of multiple financial institutions also highlights continued investor confidence in our project pipeline and execution capabilities within the US renewable energy market. The continued partnership of Advantage Capital has been instrumental in supporting our financing strategy, demonstrating the importance of trusted partners in accelerating the deployment of renewable energy infrastructure," he added.

"We greatly value our ongoing and impactful partnership with Sabanci Renewables," said Tom Bitting, Managing Director at Advantage Capital. "Together, we have now financed more than $470 million in tax equity commitments to help deliver critical energy solutions to communities across Texas. This latest transaction demonstrates the value of strong collaboration between developers, lenders, and tax equity investors in bringing large-scale renewable energy projects to market. We look forward to supporting Sabanci Renewables as they continue expanding their U.S. portfolio and advancing energy infrastructure across Texas."

North of Texas is the next focus area of Sabanci Renewables

Pepper and Lucky 7 are positioned within the ERCOT market, where Sabanci Renewables continues to build a scalable and diversified solar portfolio. The projects add to the company's existing assets, including Cutlass II and Oriana, bringing the portfolio size to 790 MWdc, reinforcing its presence in Texas as a core growth region.

"With a combined capacity of 286 MWdc, the two projects contribute to Sabanci Renewables' broader portfolio objective of reaching 3,000 MWdc," said Doğancıoğlu. "Our development strategy remains focused on identifying and advancing projects that align with ERCOT's market dynamics, including resource availability and grid integration opportunities."

The selection of McLennan and Hopkins counties reflects site-specific considerations such as transmission access and long-term operational viability. Both projects are designed to integrate efficiently into the regional grid while supporting incremental capacity growth within the company's US platform.

Portfolio expansion driven by disciplined project selection

The financial close of Pepper and Lucky 7 represents another step in Sabanci Renewables' strategy to scale its US operations with a disciplined and structured approach. The company continues to prioritize projects that can be integrated into a broader portfolio, supporting both operational efficiency and long-term value creation.

Sabanci Renewables closes financing for two Texas solar projects

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Sabanci Renewables remains focused on expanding its footprint through both greenfield development and selective acquisitions. The company's pipeline strategy is designed to support consistent capacity growth while maintaining alignment with market conditions and investor expectations.

About Sabanci Renewables

Sabanci Renewables is a US-based renewable energy platform focused on the development, construction, and operation of utility-scale solar power projects. It is a wholly owned subsidiary of Sabanci Holding, one of Türkiye's leading holding companies with deep expertise in the energy sector, and has completed the financing for two solar energy projects in Texas. The company operates within the ERCOT market and is part of Sabanci Climate Technologies, supporting a growing portfolio of renewable energy assets. With a target of reaching 3,000 MWdc in installed capacity, Sabanci Renewables continues to expand its presence through disciplined investment, structured financing, and a focus on long-term portfolio value. Learn more at .

About Advantage Capital

Advantage Capital is a leading impact investment firm that deploys capital to underserved markets nationwide. Through its Energy Finance platform, the firm provides flexible, scalable financing for large-scale solar, wind, energy storage, and emerging clean energy technologies. By partnering with developers and investors, Advantage Capital accelerates the deployment of resilient energy infrastructure that expands access to affordable, sustainable power while driving long-term economic growth in the communities it serves. Learn more at .

Contact:
Zeynep Dedeoglu - Sabanci Climate Technologies
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Source: B2Press BV

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