Global law firm White & Case LLP, alongside GKC Partners, has successfully advised Kalyon Enerji Yatırımları A.Ş. in securing a €249 million (US$272 million) UK Export Finance (UKEF)-supported loan, arranged by Standard Chartered Bank, to finance the construction of solar power plants across seven separate sites in Türkiye. This marks the second-largest solar project in the country’s history, with a collective capacity of 390 MWp.
The new solar projects will be located in the provinces of Bor-Niğde, Gaziantep, and Şanlıurfa-Viranşehir, and are expected to generate enough clean energy to power more than 65,000 households annually. This initiative represents a significant leap forward in supporting Türkiye’s national goal of transitioning to sustainable energy.
“This is a landmark project that will significantly contribute to Türkiye’s sustainable energy goals,” commented Ateş Turnaoğlu, association partner at White & Case, who co-led the deal.
Kalyon Enerji, founded in 2017, is a leading player in Türkiye’s renewable energy sector, managing a combined 1,740 MW of solar power capacity and 1,220 MW of wind power installations. The company is jointly owned by International Energy Holding (IEH) and Kalyon İnşaat. IEH, a subsidiary of the International Holding Company (IHC), one of the largest investment firms in the UAE and Gulf region, holds a 50% stake.
“Our involvement in this project reinforces our ongoing commitment to advancing renewable energy infrastructure,” said Sebastian Buss, White & Case partner and co-lead on the transaction.
The White & Case team for this transaction was led by Ateş Turnaoğlu and Sebastian Buss in Istanbul, with support from William Watson in Dubai and associates Can Argon, Efe Soysal, Göktuğ Yiğiter (all in Istanbul), and Noren Bhulji (Dubai).
This project underscores Kalyon Enerji’s ongoing efforts to bolster Türkiye’s renewable energy portfolio while positioning the country as a significant player in the global shift toward sustainable energy.
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