IHC Acquires 50% Stake In Turkey's Renewable Energy Major Kalyon

Abu Dhabi's International Holding Co (IHC) has acquired a 50% stake in Turkey's Kalyon Enerji for $490 million through one of its subsidiaries.

The transaction includes solar power projects in Turkey's Karapınar and Gaziantep regions and a wind power project in Ankara, IHC said in a statement to the Abu Dhabi stock market.

Kalyon Enerji is part of Turkey's Kalyon Holding, which has interests in construction, energy and aviation.

IHC on Thursday Tweeted: "Günaydın Türkiye! International Holding Company kick start the second half of 2022 with an AED 1.8 billion (USD 501 Million) acquisition in the Turkish Clean Energy Market."

IHC subsidiary International Energy Holding will acquire the stake, said IHC which invested $2 billion in India's Adani Group in May, 2022.

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