Norton Rose Fulbright and its Turkish affiliate Pekin Bayar Mizrahi have advised the International Holding Company on its AED 1.8 billion acquisition of a 50% stake in Kalyon Enerji, via IHC subsidiary International Energy Holding. White & Case's Turkish affiliate GKC Partners advised Kalyon.
According to Norton Rose, the deal saw IHC “acquire the Kalyon Karapinar Solar Power Plant, a photovoltaic power plant project with an installed capacity of 1.347 gigawatts-peak/one gigawatt in the Karapinar region in Konya. As part of the purchase, it also acquired the wind project of one-gigawatt capacity developed by YEKA, a 100-megawatt solar project in Nigde, a 50-megawatt solar project in Gaziantep, and other renewable projects in Turkey. Once completed, the Kalyon Karapinar Solar Power Plant alone will meet the annual electrical energy needs of approximately two million people.”
The IHC is an Abu Dhabi-based holding company that invests in diversified global sectors, enhancing social lives and driving economic development and growth.
Turkish clean company Kalyon Enerji, which is part of the Turkish conglomerate Kalyon Holding, focuses on research and development and innovation studies with the aim of making renewable energy sources accessible.
The Norton Rose Fulbright team included Partner Ayse Yuksel Mahfoud and Associate Alper Tuzun, along with lawyers from the firm's Dubai and London offices.
The Pekin Bayar Mizrahi team was led by Senior Partner Selin Bayar and Partner Utku Unver and included Partners Deniz Altinay and Asli Kucuroglu, Senior Associates Galya Kohen Benbanaste and Hande Alp, and Associates Damla Cay, Alara Unal, Ecem Akyigit, Betul Terzioglu, and Oyku Cakalgoz.
GKC Partners’ team included Partners Emre Ozsar and Ates Turnaoglu, Senior Director Sezin Elcin Cengiz, and Associates Gokcen Durgut, Can Argon, Lidya Ercan, and Esma Aktas.