Advantage Capital has committed $137 million to Sabanci Renewables, the North American subsidiary of Turkey-based Sabanci Holding, to finalize funding for the Oriana Solar Project in Texas. The project, located 120 miles southeast of San Antonio, will generate 232 MW (DC) of solar energy. Sabanci Renewables claims this investment, leveraging tax credits from the Inflation Reduction Act, provides the final capital needed to complete the project. Scheduled to be operational by Spring 2025, it will feature 425,000 solar panels over 1,100 acres, supplying power to 65,000 homes. The project will create 300 construction jobs and 10 permanent roles. This marks the second tax equity financing partnership in Texas between the two companies, bringing Sabanci Renewables’ combined energy capacity in ERCOT to over 500 MW (DC).
