Advantage Capital to Provide USD 185 Million Investment to Sabanci Renewables

Advantage Capital’s tax equity investment, which leverages federal Investment Tax Credits (ITCs), will provide the external capital necessary for Sabanci to complete construction of the project.

“This investment with Sabanci Renewables perfectly aligns with Advantage Capital’s commitment to funding clean energy projects nationwide and will especially have a positive impact on the community in greater Fort Bend County, Texas,” said Tom Bitting, Principal at Advantage Capital. “We are thrilled to be working with Sabanci, a trusted name in the global energy industry, in bringing this project online for the benefit of its stakeholders.”

Cutlass II is expected to commence operations in April 2024, and includes over 500,000 solar panels situated on over 1,000 acres of land, which will provide sustainable electricity to more than 80,000 homes in Texas and create hundreds of jobs for the local economy during execution. The project will also help to mitigate energy supply security concerns, especially in the hot summer months within the growing Houston hub.

“We are happy to partner up with Advantage Capital in our first renewable energy project in the U.S. and proud to demonstrate our execution capabilities in such a competitive market under such a challenging environment,” said Ismail Bilgin, CEO of Sabanci Renewables.