The shares of Hun Renewable Energy will be offered for sale at 1.82 liras

Orhun Kartal, in his evaluation to the AA correspondent, said that the Koray Group of Companies operates in four main sectors: construction, real estate development, energy, and agricultural production activities.

Expressing that the trend in the world has shifted to renewable energy due to the aim of increasing energy consumption in the world and reducing carbon-based energy consumption, Kartal said, "Hydroelectricity, wind, and, since 2005, solar have been widely used in this regard for about twenty years. We started two hydroelectric power plants in Erzurum in the year 2010 and put them into operation in 2010. We made our first solar investment in 2014. Our power plant is the first commissioned plant in Turkey. Now we will open that plant to the public with Hun Renewable Energy."

Recalling that they offered Kartal Renewable Energy to the public last year, Kartal said:

"With the income obtained, we were able to realize the promised new investments. The public offering of Kartal Renewable Energy was held on July 16, 2021. We increased our investments from 41.7 megawatts to 51.1 megawatts. Since then, our turnover has increased in parallel. We have increased our equity to one billion liras. We have increased our equity size by 62 percent to 569 million. We have also increased our installed capacity from 42 megawatts in our public offering to 51.1 megawatts and increased by 23 percent. In addition, on July 16, we increased our equity to 569 million. We realized the supply was eight liras. Our share went up to 24 liras in the fall. It has tripled from 8 liras to 24 liras; that is, it has almost tripled. It is currently in the 19-20 lira band. As of today, our share has doubled."

Hun Renewable Energy will be listed as 'HUNER' on the stock market

Noting that Hun Renewable Energy also has some solar energy, Orhun Kartal said, "We have a solar investment of around 58.5 megawatts. We have an 11-megawatt biomass power plant in Salihli. We also have a 26.1-megawatt hydroelectric power plant in Erzurum. Hun Renewable Energy, which covers all three types of renewable energy, will be listed as 'HUNER' on the stock market."

Noting that they made the public offering of Hun Renewable Energy shares with a nominal value of 80 million lira as a joint sale and 130 million lira as a capital increase, Kartal said, "Each share will be offered for sale at 1.82 liras. A total of 236.6 million liras will be obtained. Our company will use this resource. It will use 30-35 percent of its working capital in working capital and realize investments in some hybrid projects, because the licenses of both our biomass power plant and our hydroelectric power plants allow hybrid construction. With 60-65 percent of the resource that will come from the public offering, power plants under development in Turkey and abroad , we will purchase finished plants and/or licenses."