RES Group has sold the 66-MWm/65-MWe Topaz wind project in Türkiye to Reges Elektrik in Q2 2026. The project sits across Çorum and Yozgat provinces and was awarded to RES in TEİAŞ’s 2017 wind capacity tender. It only earned the right to obtain a production license in March 2026. Deal value was not disclosed.

The shift is clear: Türkiye wind M&A is moving from tender optionality to license-ready capacity. Reges Elektrik is buying an advanced-stage asset after the highest-risk permitting phase, not an early-stage pipeline.

Topaz is expected to generate about USD 13.2 million in revenue during its first 10 years and roughly USD 25 million in grid fees over 25 years. That gives the buyer a visible commercial case tied to licensed generation rights, not speculative development upside.

Reges Elektrik is a private domestic buyer using M&A to expand from power supply into generation. Its earlier purchase of the 60–70 MW Demirli wind project from RES shows the same pattern: acquire mature wind assets with TEİAŞ-awarded capacity and near-term licensing progress.

This mirrors wider European buyer discipline. Enerdatics’ Q3 2025 M&A analysis noted that onshore wind activity increasingly favored operational or near-operational assets, as investors reduced exposure to permitting and execution risk

The next signal for Türkiye wind M&A is stronger pricing for projects that convert old tender awards into production licenses, grid access, and bankable construction timelines.

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