The Islamic Corporation for the Development of the Private Sector (“ICD”) has extended a medium term US$25 million corporate finance facility to Çalık Enerji Sanayi ve Ticaret A.Ş, the energy arm of Çalık Holding, a leading Turkish investment conglomerate, with operations spanning energy, construction and real estate, mining, textile manufacturing, telecom and financial services within Turkey and abroad. The proceeds will be used to part fund the Company’s growing activities in the renewable energy space in the Turkish market.
ICD’s Chief Executive Officer and General Manager, Mr. Khaled Mohammed Al-Aboodi, welcomed the opportunity to expand cooperation with Çalık Group, which is also a partner in ICD’s leasing venture in Albania through Banka Kombëtare Tregtare. “Çalık Group is an important partner of ICD, and we are always on the lookout for opportunities to grow and diversify our partnership with them. We are particularly pleased to be supporting the Group’s activities in the renewable energy space, which is one of ICD’s priority intervention areas because of its contribution to sustainable development in our member countries.”
For his part, Mr. Ahmet Çalık, Chairman of Çalık Holding, underlined the importance of sustainable development and said: “I’m confident that the collaboration between Çalık Group and ICD will play a key role in promoting growth, development and prosperity in Turkey and beyond“. Mr. Ahmet Çalık also mentioned that Çalık Holding is pleased to cooperate with ICD whose mission is to promote private sector development around the Muslim world.
Çalık Enerji, the beneficiary of the financing, is a global energy player in Turkey, Eastern Europe, CIS, Middle East, North Africa and GCC, and has several business lines including an EPC business specialized in power, energy and other infrastructure projects; a utility business owning several electricity and gas distribution companies within Turkey and out; a fast growing independent power project (IPP) business; and an oil and gas business mainly involved in upstream O&G activities.
The Company has an impressive track record of growth and operational excellence. Recently, the Company signed a strategic partnership agreement with Mitsubishi Corporation, a world class technology and engineering company, paving the way for Calık Energy towards the development of major infrastructure and energy projects in CIS, Eastern Europe, Middle East, Africa and GCC.
Recently, the 1.250 MW “Al-Khairat Power Plant” built by Çalık Energy was named the “Leading Industrial Project” in 2014 by one of the major publications of the sector, “Engineering News Record (ENR)”, and gained the gold award in the “Industrial Plant” category.
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About ICD
ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments, which are in accordance with the principles of Shari’a. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody’s. For more information, visit www.icd-ps.org
About Çalik Enerji
Çalik Enerji is a Turkish energy company of the Çalık Holding, which was established in 1998. The main areas of operations include Oil and gas exploration, production, transportation, and distribution; power generation, transmission, and distribution; power design and engineering; telecommunications services. Çalik Enerji has oil and gas exploration and production activities in Turkey, Iraq, Afghanistan, Azerbaijan, and Turkmenistan (notably in the Ýolöten Gas Field).
© Press Release 2016
