Renaissance Energy Generation, INC. is a subsidiary of Rönesans Holding which is undertaking investments in the energy sector. In its activities, Renaissance Energy benefits extensively from the experiences of Renaissance Construction, another subsidiary of Rönesans Holding, and makes use of these experiences to achieve its strategic targets.
Renaissance Energy is established in 2007, with the aim to explore the investment opportunities in the rapidly growing Turkish energy market. Renaissance Energy, with a highly experienced staff in the energy sector, decided to carry out its initial activities by primarily investing in the field of renewable energy production and especially constructing hydroelectric power plants (HEPP).
The first investment of Renaissance Energy was to construct the Yalnızca HEPP near the city of Karabük. After winning a public tender and receiving a license to construct and operate for 40 years this hydroelectric power plant, Renaissance Energy initiated its first investment and completed the construction of Yalnızca HEPP in 18 months. Yalnızca HEPP generates power since October 2009, with an installed power capacity of 15,75 MWm.
In 2009, Renaissance Energy has received two more licenses to construct and operate two other hydroelectric power plants with the same method. Kale and Osmancık HEPPs, both constructed on the river of Yeşilırmak in Amasya, generate power since February 2013, with a total installed power capacity of 39,40 MWm. In March 2010, Renaissance Energy received its fourth license to construct and operate another hydroelectric power plant. The Sena HEPP, constructed on the river of Aras in Kars, generates power since August 2013, with an installed power capacity of 22,10 MWm. Lastly, Renaissance Energy constructed the Özlüce HEPP in Erzurum and started to operate it since December 2013, with an installed power capacity of approximately 37 MWm. As a result, since its establishment, Renaissance Energy has increased its total energy generation capacity significantly and as of the end of 2014, it has increased it up to a level of approximately 115 MWm.
With an eye to further increasing installed capacity, Rönesans Enerji closely follows the energy market and continues to invest in feasible projects. To serve that end, Rönesans Enerji is now developing three hydroelectric power plants (HPP) in Hakkari: three in Doğanlı with an installed capacity of 476.60 MWm, and an additional one in Çukurca with an installed capacity of 294 MWm. Furthermore, in 2016, Rönesans Enerji placed the highest bid for the privatization tender of the 51-MWm Şanlıurfa Hydroelectric Power Plant and associated property, formerly owned by Elektrik Üretim A.Ş. (EÜAŞ). The company obtained operating rights for the Şanlıurfa HPP for 49 years, thereby increasing total installed capacity to 166 MWm.