Turkey's Kalyon Enerji, in which Abu Dhabi’s International Holding Company has a 50 per cent stake through Multiply Group, aims to grow its renewable energy portfolio globally, after signing a $7 billion deal in Syria to construct new power plants in the war-torn country.
Kalyon Enerji is co-owned by Turkish conglomerate Kalyon Holding, which has interests in several sectors including construction, energy and aviation.
“Our renewable portfolio at the moment is more than 2 gigawatts in operation but, in the coming five years, our target is to increase our portfolio to 5 gigawatts,” Kalyon Enerji's chief executive Murtaza Ata said in Istanbul.
“We are looking at opportunities in the Middle East, Eastern Europe and in the US to grow our portfolio.”
In Eastern Europe, Kalyon Enerji is considering Romania and Poland, while in the Middle East and North Africa, it is targeting markets including Algeria, Morocco and Libya, according to Mr Ata.
In the US, “there are many projects that have been offered to us and we are studying them”, he said, without disclosing details.
Globally, countries are boosting investments in renewable projects as they look to cut emissions to meet their clean energy goals. The US aims to achieve net-zero emissions by 2050, while other countries have set their own targets to cut emissions to reduce global warming.
Kalyon Enerji’s portfolio includes a 1.3-gigawatt solar power plant in Turkey, which is the “largest in Europe and has received the largest green financing from UKEF [UK Export Finance]”, Mr Ata said. Its other projects are also based in Turkey.
The Istanbul-based company has “all the capacity and capability to execute projects on its own”, Mustafa Kocar, chief executive of Kalyon Holding, said.
“Currently, we are the biggest renewable investor in Turkey. So basically, we have the technical expertise, we have the capacity to inject more equity in new projects and we can secure the financing through our own resources,” he added.
“We have very good relations with the international financing network.”
New power plants in Syria
Kalyon Enerji is building new power plants in Syria after economic sanctions were lifted on the country by the US and the EU last month.
On Thursday, it signed a $7 billion energy investment agreement with a consortium of companies including Qatar's UCC Holding as well as US company Power international and Cengiz Enerji of Turkey to build a solar power plant with a capacity of 1,000 megawatts and natural gas power plants with a combined capacity of 4,000 megawatts in the country.
“The target is to complete natural gas power plants in three years after financial closure, which maybe four years from today. For solar one and a half year after financial closure, which is two and a half years from today,” said Mr Ata.
After 14 years of war, Syria's electricity sector has been suffering from severe damage to its grid and power stations, ageing infrastructure, and persistent fuel shortages, generating only 1.6 gigawatts of electricity, down from 9.5 gigawatts before 2011, according to a Reuters report.
Reconstructing the country's power sector is expected to cost about $11 billion and the new administration is betting on the private sector shouldering the burden, underlining a shift from the state-led economic policies of the former regime led by Bashar Al Assad.
“We are really happy to contribute to the development of Syria after the new situation,” Mr Ata said.
Global expansion in construction
Meanwhi, Kalyon Holding is also eyeing opportunities in other verticals of its business including in construction, according to Mr Kocar.
“We were more [of] a local company, but in the last couple of years, with this strategy of internationalisation, on the construction side, we are undertaking some works in Azerbaijan in rail and highway,” he said.
“We are also doing a gas pipeline project for Romania’ state-owned Transgaz and are bidding for many tenders on the construction side in the Middle East, CIS [Commonwealth of Independent States], North Africa and Eastern Europe.”
Kalyon Holding is also eyeing opportunities in airport construction in Turkey and other parts of the Middle East after building Istanbul airport in 2019.
“We have a 55 per cent stake in Istanbul airport, and we have completed its construction, and we are now managing the airport together with our partner there,” Mr Kocar said.
“Airport construction investment is also an area that we are looking at, not only in Turkey but also in the region.”
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
THE SPECS
Engine: 3.5-litre supercharged V6
Power: 416hp at 7,000rpm
Torque: 410Nm at 3,500rpm
Transmission: 6-speed manual
Fuel consumption: 10.2 l/100km
Price: Dh375,000
On sale: now
More from Neighbourhood Watch:
Director: Jon Favreau
Starring: Donald Glover, Seth Rogen, John Oliver
Rating: 2 out of 5 stars
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Mohammed bin Zayed Majlis
UAE currency: the story behind the money in your pockets
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
List of alleged parties
May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff
May 20, 2020: They attend 'bring your own booze party'
Nov 27, 2020: PM gives speech at leaving party for his staff
Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson
Dec 13, 2020: PM and his wife throw a party
Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters
Dec 15, 2020: PM takes part in a staff quiz
Dec 18, 2020: Downing Street Christmas party
Everton 1 Stoke City 0
Everton (Rooney 45 1')
Man of the Match Phil Jagielka (Everton)
UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Arrogate's winning run
1. Maiden Special Weight, Santa Anita Park, June 5, 2016
2. Allowance Optional Claiming, Santa Anita Park, June 24, 2016
3. Allowance Optional Claiming, Del Mar, August 4, 2016
4. Travers Stakes, Saratoga, August 27, 2016
5. Breeders' Cup Classic, Santa Anita Park, November 5, 2016
6. Pegasus World Cup, Gulfstream Park, January 28, 2017
7. Dubai World Cup, Meydan Racecourse, March 25, 2017
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
