Ihlas Holding’s Ahmet Mucahid Oren signs energy deals in Kyrgyzstan worth $7B
Ahmet Mucahid Oren, Chairman of the Board of Ihlas Holding and Orta Asya Investment Holding, signed agreements for a strategically important hydroelectric power plant and a natural gas evolution power plant with a total capacity of 1,450 MW in Kyrgyzstan in the presence of President Recep Tayyip Erdogan and Kyrgyz President Sadyr Japarov. (Kamil Nadirli/Bishkek-IHA)
At the 11th Summit of the Organization of Turkic States (OTS), held in Kyrgyzstan’s capital Bishkek, Türkiye and Kyrgyzstan solidified their strategic partnership through significant energy agreements spearheaded by Ihlas Holding.
Ahmet Mucahid Oren, Chairman of the Board of Ihlas Holding and Orta Asya Investment Holding, signed agreements involving two major projects: a 1,200-megawatt (MW) hydroelectric power plant in the Kazarman region and the construction and operation of a 250-MW capacity CHPP-2 natural gas combined-cycle power plant in Bishkek, valued at $300 million.
Major projects signed in presence of leaders
The investment agreements, expected to total approximately $7 billion, were signed by Oren and Kyrgyzstan’s Energy Minister Ibraev Taalaibek Omukeevich, at the Intymak-Manas Ordo Presidential Palace.
The signing took place in the presence of President Recep Tayyip Erdogan of Türkiye and President Sadyr Japarov of Kyrgyzstan, highlighting the strategic importance of the collaboration.
Strengthening energy independence
The Kazarman Hydroelectric Power Plant and the CHPP-2 Natural Gas Combined-Cycle Power Plant are among the most significant strategic investments globally, attracting the attention of investors for years.
The Kyrgyz government has emphasized the importance of these projects due to their expected contributions to the nation’s economy, employment rates, and energy independence.
Approval after comprehensive evaluation
Following extensive evaluation, the Kyrgyz government approved the implementation of these two substantial projects by Orta Asya Investment Holding, a subsidiary of one of Türkiye’s well established companies, Ihlas Holding.
The agreements, built on mutual trust between Türkiye and Kyrgyzstan, aim to modernize and strengthen the energy infrastructure, meet energy needs with local resources, support economic independence, and promote sustainable development.
Strategic importance for OTS and regional future
Under the framework of OTS, the investments led by Ihlas Holding and Orta Asya Investment Holding, chaired by Ahmet Mucahid Oren, are seen as a significant step not only for Türkiye-Kyrgyzstan relations but also for the shared future of the OTS member states.
The projects reflect President Recep Tayyip Erdogan’s vision of a “strong and independent future for the Turkic world,” serving as concrete examples of enhanced cooperation and economic progress among member states.
Driving regional cooperation
The partnership between Türkiye and Kyrgyzstan is expected to inspire and accelerate collaborations among other member states, fostering a more interconnected and cooperative regional environment.
Power from unity
Orta Asya Investment Holding was established in February 2024 by Muhammet Haluk Sur with the goal of supporting the economic prosperity and development of the Turkic States Organization’s member countries. The company aims to collaborate with national and international enterprises for technology transfer and investment platform creation.
The board of Orta Asya Investment Holding includes Selcuk Gezer and Sinan Kocak, and the company has partnered with the globally renowned project management firm Hill International for technical consultancy.
Through strategic cooperation with Türkiye’s prominent Ihlas Holding, the company reached an agreement with the Kyrgyz Ministry of Energy to implement the CHPP-2 Natural Gas Combined-Cycle Power Plant and Kazarman Hydroelectric Power Plant projects with a total capacity of 1,450 MW under a build-operate-transfer model.
