Turkey’s Re-Pie targets investment in renewables, health for growth

(Refiles to fix typographical error in headline)

ISTANBUL (Reuters) – Turkish asset management company Re-Pie aims to expand its portfolio to 4 billion lira ($490 million) with investments in renewable energy, agriculture and health, its chairman said.

Istanbul-based Re-Pie has already set up a fund to grow in health and health technologies, Emre Camlibel told Reuters, adding that other areas of investment could include financial and agricultural technology.

Re-Pie plans to make the new investments within Turkey, Camlibel said.

“We aim to grow our portfolio to 4 billion lira from a current 2.4 billion lira this year. We are prioritising growing in renewable energy and plan to set up a fund to invest in hydroelectric power plants,” Camlibel said in an interview.

Camlibel did not give further details on which hydropower plants Re-Pie is interested in investing in.

Renewable energy sources accounted for 44% of total electricity generation in Turkey in 2019, a report by the International Energy Agency (IEA) showed. Turkey offers feed-in tariffs for renewable energy power plants, a system that guarantees purchases for electricity generated.

Re-Pie has invested in rapid delivery company Getir, recently valued at $2.6 billion, and also has interests in solar power, internet services, biotech and real estate.

Camlibel said the company manages funds with investments in land, office, shopping malls and storage facilities, while the coronavirus outbreak has created an opportunity for further investment in office space.

(This story refiles to fix typographical error in headline)

Additional reporting by Can Sezer; Writing by Ezgi Erkoyun; Editing by Daren Butler and Alexander Smith