Sale of İçkale Enerji Kemah HEPP to Akenerji

Akenerji, one of Turkiye’s leading power generation companies, has acquired İçkale Enerji Elektrik Üretim ve Ticaret A.Ş., the energy generation subsidiary of İçkale Group and holder of the Kemah Dam and Hydroelectric Power Plant project license. İçkale Enerji was established as the energy generation platform of İçkale Group and held the license for the Kemah HEPP project in Erzincan. The project represented a sizeable renewable energy development asset with planned hydroelectric generation capacity. Akenerji is a Turkiye-based power generation company with a diversified portfolio across thermal and renewable energy assets. Through the acquisition, Akenerji added a large-scale hydroelectric development project to its portfolio and supported its strategy of increasing installed capacity through renewable energy investments. INHERA acted as financial and strategic advisor to İçkale Group in this transaction.