Abu Dhabi-based International Holding Company (IHC) announced today the acquisition of a 50 percent stake in Turkish renewable energy company, Kalyon Enerji, for 1.8 billion dirhams ($490 million) through its subsidiary International Energy Holding. Kalyon Enerji is owned by the Turkish group Kalyon Holding, which operates in the Construction, Energy, and Aviation industries.
In this transaction, IHC’s subsidiary, International Energy Holding, will add to IHC Group’s international growth prospects with access to its power trading capabilities.
Commenting on the acquisition, Syed Basar Shueb, IHC’s Chief Executive Officer, said: “With this transaction, IHC is further accelerating its growth in the renewable energy sector by partnering with Kalyon Enerji, and this will complement our renewable energy portfolio, which we will continue to grow across different markets”.
The deal included the photovoltaic power plant project with an installed capacity of 1,347.734 MWp / 1,000 MWe in the Karapinar Region in Konya, located in Ankara, the wind Project of 1GW capacity developed by YEKA, a 100 MW Solar Project in Niğde, 50 MW Solar Project in Gaziantep, and other renewable projects in various cities of Turkey.
Cemal Kalyoncu, Kalyon Holding Chairman of the Board said: “This strategic cooperation is of historical importance in terms of realizing both potential projects in Turkey, and new markets and business fields in geographies, that we plan to enter in the world, it will make a great contribution to our geography as well as our country.”
