Kalyon Enerji

The economic partnership agreement signed between Türkiye and the United Arab Emirates (UAE) is expected to create 125,000 jobs in Türkiye and the UAE, says Saeed Thani Hareb Al Dhaheri, UAE ambassador to Ankara.

The Türkiye-UAE Comprehensive Economic Partnership Agreement (CEPA) signed in March will take effect on Sept. 1.

International Holding Company (IHC), the diversified Abu Dhabi-based conglomerate, has announced the acquisition of a 50 percent stake in Turkish clean energy firm Kalyon Enerji for AED 1.8 billion (around $490 million) through its subsidiary International Energy Holding.

Kalyon Enerji is owned by Kalyon Holding, which operates in the construction, energy and aviation industries.

Kalyon Enerji, the developer of the largest solar facility in Turkey, on Nov. 30 signed a $812 million loan agreement with six Turkish banks, U.S. lender JPMorgan Chase & Co and U.K. Export Finance (UKEF).