Abu Dhabi-based International Holding Company (IHC) announced the acquisition of a 50 per cent stake in Turkish clean energy market leader ‘Kalyon Enerji’ for Dhs1.8bn through its subsidiary, International Energy Holding.
Kalyon Enerji is owned by the giant Turkish group Kalyon Holding, which operates in the construction, energy and aviation industries.
Syed Basar Shueb, CEO of IHC said, “This constitutes IHC’s second-largest acquisition in the renewable energy sector to date. With this transaction, IHC is further accelerating its growth in the renewable energy sector by partnering with Kalyon Enerji. This will complement our renewable energy portfolio, which we will continue to grow across different markets”.
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The Dhs1.8bn deal included the photovoltaic power plant project with an installed capacity of 1,347.734 megawatt peak (MWp) / 1,000 megawatt electrical (MWe) in the Karapinar Region in Konya, the wind Project of 1 GW capacity developed by Turkey’s Renewable Energy Resources Zone (YEKA), 100 MW Solar Project in Niğde, 50 MW Solar Project in Gaziantep, and other renewable projects in various cities of Turkey.0