Multiply Group Acquires 80% Stake In International Energy Holding

Multiply Group have acquired 80% of International Energy Holding, under which it aims to continue expanding the Group’s utilities and energy investments globally.

The company recently acquired a 50% stake in Kalyon Enerji Yatrimlari A.Ş., a market-leading clean and renewable energy company based in Turkey. Kalyon Enerji’s assets include the PV power plant project with an installed capacity of 1,347.734 MWp / 1,000 MWe in Konya’s Karapinar region and other renewable energy projects in various cities of Turkey.

Samia Bouazza, CEO and Managing Director at Multiply Group, said, “Our investment in International Energy Holding reflects our strategy to build up our utilities vertical which has contributed to our financial performance with a steady income, considering the current macroeconomic backdrop. The industry also offers strong growth potential as the world transitions towards clean and renewable energy. This also reflects our commitment to advancing the renewable and clean energy agenda in line with the goals of the UAE government.”

Multiply Group is a technology-focused holding company listed on the Abu Dhabi Securities Exchange (ADX).