Orion Capital Partners

Sector note · Renewable energy

Solar and wind to 2035

Turkey plans to triple its solar and wind capacity by 2035, from 39.9 GW to 120 GW; new capacity comes through state auctions, and operating plants change hands between owners.

Named deals

20232024202512
  1. 1Rönesans Enerji, 50% TotalEnergies · value not disclosed · 2023
  2. 2Gökçedağ wind farm Rönesans · USD 121.2m · 2025
Circle area follows the value. An open dot is a deal whose value was not disclosed.
  1. 01

    Installed power capacity reached 122,519 MW at the end of 2025, 62.3% of it renewable; solar was 25,109 MW and wind 14,774 MW.

    Anadolu Agency, citing the Energy Ministry, 21 January 2026

  2. 02

    The government aims for 120,000 MW of solar and wind by 2035, about three times the end-2025 level.

    Anadolu Agency, 21 January 2026

  3. 03

    The 2025 YEKA rounds awarded 1,150 MW of wind and 650 MW of solar; the 2026 round offers 2,400 MW in 21 competitions, with applications due on 13 October 2026.

    Anadolu Agency, 9 December 2025
    Energy Ministry, 6 January 2026
    Anadolu Agency, 11 July 2026

  4. 04

    Zorlu Enerji sold its 135 MW Gökçedağ wind farm to Rönesans Yenilenebilir Enerji for USD 121.2m, closing on 29 December 2025.

    Zorlu Enerji, KAP, 29 December 2025

  5. 05

    TotalEnergies agreed in July 2023 to buy 50% of Rönesans Enerji, with 166 MW of hydro and more than 700 MW of wind, solar and storage in development.

    TotalEnergies, 24 July 2023

Orion view

We expect the build-out to draw more foreign capital than today’s trade in existing plants. Buyers price a plant on three documents: its licence, its grid connection and the terms it sells power under. A seller with those in order, and the production history to match, shortens diligence and holds the price.

Sources: as cited above, read October 2026; Orion Capital Partners analysis.

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