UAE Business: IHC acquires 50pc of Turkey’s Kalyon Enerji for $490m – Gulf Digital News

UAE Business: IHC acquires 50pc of Turkey’s Kalyon Enerji for $490m – Gulf Digital News

International Energy Holding, part of International Holding Company (IHC), the diversified Abu Dhabi-based conglomerate, has acquired a 50% stake in Turkish clean energy market leader Kalyon Enerji for AED1.8 billion ($490 million).

The deal includes 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, 100 MW Solar Project in Niğde, 50 MW Solar Project in Gaziantep, and other renewable projects in various cities of Turkey.

Kalyon Karapınar Solar Power Plant covers approximately 20 million sq m in Konya's Karapınar district. The installation and commissioning of 3.5 million panels started in August 2020 and are set to be completed in 2023.

Green credentials

When the project gets completed, energy equivalent to one week’s need of a city with a population of 50,000 will be produced in just one hour. In other words, this facility alone will meet the annual electrical energy needs of approximately 2 million people. In addition, 2 million tonnes of fossil waste and carbon emissions will be prevented.

Kalyon Enerji is owned by the giant Turkish group Kalyon Holding, which operates in the Construction, Energy and Aviation industries. Through