International Holding Company, one of the giant investment holding companies in the Middle East, has acquired a 50% stake in Kalyon Energy, the leader in the clean energy market in Turkey, for 1.8 billion dirhams, through its subsidiary International Energy Holding.
According to Al Ittihad newspaper, Kalyon Energy is owned by the giant Turkish conglomerate Kalyon Holding, which operates in the construction, energy and aviation industries. Through this transaction, International Energy Holdings, a subsidiary of the global holding company, will acquire a 50% stake in Kalyon Enerji, which will add to the group's global growth prospects while developing its energy trading capacity.
Sayed Basr Shuaib, CEO of IHC, said: This constitutes IHC's second largest acquisition in the renewable energy sector to date. Through this transaction, IHC is accelerating its growth in the renewable energy sector by partnering with Kalyon Enerji, as this acquisition constitutes an important addition to our renewable energy portfolio, which we will continue to grow across different markets.
The 1.8 billion dirham deal included a photovoltaic power plant project with an installed capacity of 1,347,734 MW/1,000 MW in the Karabinar district of Konya. Also located in Ankara are the 1GW wind power project developed by YEKA, the 100MW solar power project in Nide, the 50MW solar power project in Gaziantep, and other renewable projects in different cities of Turkey. Kemal Kalyon, Chairman of the Board of Directors of Kalyon Holding Company, stressed that this strategic cooperation is of great importance not only for the two countries, but also at the regional level, commenting: The steps we have taken in the energy sector and investments, have attracted a high percentage of the attention of foreign investors so far. There is no doubt that this strategic cooperation is of historical importance in terms of realizing both potential projects in Turkey, new markets and commercial areas in geographical areas, which we plan to enter into the world, and our geographical location will make a significant contribution to this. We have always been committed to enriching human life by contributing to social development without losing environmental awareness. As climate change is the primary challenge of our time, we must accelerate our efforts
To transform our planet into a sustainable green economy.
The Kalyon Karabinar Solar Power Plant was built on an area of approximately 20 million square meters in the Karabinar district of Konya. The installation and commissioning of 3.5 million panels began in August 2020 and is scheduled to be completed in 2023. When the project is completed, it will start producing energy equivalent to the needs of a city of 50,000 people for a period of one week. Only one hour. In other words, this facility alone will meet the annual electrical energy needs of nearly 2 million people. In addition, two million tons of fossil waste and carbon emissions will be prevented. The acquisition comes as part of the global holding company's long-term investment strategy in the clean energy sector, and comes four months after its investment of 7.3 billion dirhams in the Indian Adani Group - Green Energy, as the company continues to grow its investments in the field of clean energy and provide sustainable services growth in the sector energy.