DUBAI, Aug 11 (Reuters) - Abu Dhabi's International Holding
Co on Thursday said it had acquired a 50% stake in
Turkey's Kalyon Enerji for 1.8 billion dirham ($490 million)
through one of its subsidiaries.
Kalyon Enerji is part of Turkey's Kalyon Holding, which has
interests in construction, energy and aviation. IHC subsidiary
International Energy Holding will acquire the stake, IHC said.
The transaction includes solar power projects in Turkey's
Karapnar and Gaziantep regions and a wind power project in
Ankara, IHC said in a statement to the Abu Dhabi stock market.
Chief Executive Syed Basar Shueb said the deal was IHC's
second-biggest acquisition ever in the renewable energy sector.
Reuters reported in June that Kalyon Holding, which has
large solar and wind energy concessions in Turkey, was in
advanced talks with IHC to partner on strategic assets.
The Kalyon Karapnar Solar Power Plant, which is included in
the deal, will be capable of meeting annual electricity needs of
2 million people once it is completed in 2023, IHC said.
The deal follows a visit last November by the United Arab
Emirates' now-president, Sheikh Mohammed bin Zayed Al Nahyan, to
Turkey where he met Turkish President Recep Tayyip Erdogan.
During the visit, which followed years of animosity between
the two nations, Emirati and Turkish officials signed billions
of dollars in investment deals, including for energy.
IHC is chaired by Sheikh Tahnoon bin Zayed, the UAE's
national security adviser and a brother of Sheikh Mohammed.
($1 = 3.6727 UAE dirham)
(Writing by Alexander Cornwell; Editing by Robert Birsel)