White & Case Turkish affiliate GKC Partners has advised TotalEnergies Renewables on its acquisition of a 50% stake in hydroelectric power company Ronesans Enerji. Baker McKenzie Turkish affiliate Esin Attorney Partnership advised Ronesans Holding's Ronesans Yenilenebilir Enerji on the sale.
According to Esin, Ronesans Enerji is one of the prominent energy-generating companies in Turkiye operating hydroelectric power stations. It is also planning to extend its portfolio to include wind power plants.
"This collaboration represents a significant move towards Turkiye’s objective of increasing its installed capacity for renewables and reducing its emissions," GKC announced.
"As a result of this partnership, Ronesans Enerji will operate under the joint ownership of Ronesans Holding and TotalEnergies (50-50)," Esin reported. "Currently, Ronesans Enerji has an installed capacity of 166 megawatts across its six hydroelectric power plant projects. In the coming period, the company aims to further its growth to establish itself as one of Turkiye's top three green energy companies, with a 100% renewable energy portfolio."
TotalEnergies is a French multinational integrated energy and petroleum company founded in 1924 and one of the seven supermajor oil companies. TotalEnergies Renewables aims to be one of the world's top five renewable electricity producers and to reach 100 gigawatts of gross production capacity by 2030.
The GKC Partners team included Managing Partner Guniz Gokce, Partners Emre Ozsar and Ates Turnaoglu, Tax Advisor Hakan Eraslan, Associates Asli Gulum, Gokcen Durgut, Can Argon, Emrehan Mermer, Lidya Ercan, Segenay Kerimoglu, and Esma Aktas, and Trainees Ayse Ezgi Oner and Batuhan Akarsu, as well as the firm's former Senior Competition Director, Sezin Elcin Cengiz.
The Esin Attorney Partnership team was led by Partner Caner Elmas and included Senior Associate Sila Pinar and Associates Batuhan Hamamcioglu and Bertan Baskaya.