The MW100 2025 Report, prepared by Kearney-Enerji Günlüğü collaboration and determining Turkey's largest electricity producers, has been published. The public company Elektrik Üretim AŞ (EÜAŞ) came first on the list, ENKA came second, Enerjisa Üretim came third. Cengiz Enerji came fourth on the list, and Limak Enerji came fifth.
The sixth MW100 Turkey Research and Report, prepared in collaboration with the international consultancy firm Kearney and the leading news and information source of the energy sector, Enerji Günlüğü, has been published. The study, which lists the 100 largest electricity producers in Turkey, also reveals the sector's investor profile and the resource distribution in electricity generation capacity. The study, based on EPDK data as of December 31, 2024, covers only licensed electricity generation facilities.
STATE COMES FIRST
The MW100 Research reveals that the public utility Electricity Generation Corporation (EÜAŞ) maintained its dominance in the sector despite the privatization program that began in 2001 and accelerated after 2013. According to the research, the total installed capacity of power plants affiliated with EÜAŞ remained at the same level as last year, calculated as 21.802 MWe.
This capacity constitutes 115.354% of Turkey's total installed generation capacity of 19 MWe. Of EÜAŞ's installed capacity, 14.451 MWe consists of hydroelectric power plants, 4.735 MWe of natural gas power plants, 2.424 MWe of domestic coal power plants and 17 MWe of wind power plants.
TOP FIVE IN THE PRIVATE SECTOR
Among private sector companies, the largest player in terms of installed capacity is ENKA, as in previous years. According to the MW100 Research, the total installed capacity of ENKA’s power plants is 3.978 MWe, which constitutes 3,4% of Turkey’s total generation capacity. In the research, Enerjisa Üretim, a partnership of German E.ON and Sabancı Holding, maintained its third place with its installed capacity of 3.901 MWe, and came even closer to ENKA with the new power plants it has commissioned. Cengiz Enerji, which is in fourth place with its installed capacity of 3.161 MWe, draws attention with its balanced resource distribution, while Limak Enerji rose to fifth place with 3.033 MWe.
HIGHLIGHTS
It is observed that the power plants and capacity increases that will be commissioned in 2024 will mostly come from renewable energy sources. Kalyon Energy has realized the largest capacity increase in the sector. Kalyon Energy has significantly expanded its renewable energy portfolio thanks to its GES investment in Şanlıurfa Viranşehir and RES projects in Ankara, Bayburt, Trabzon and Elazığ. Following Kalyon Energy, Aydem Energy's total installed capacity increased by 179 MWe compared to the previous year.
INVESTMENTS THAT DRAW ATTENTION
Limak Energy's G2024 Erzin 100 Solar Power Plant with an installed capacity of 4 MWe and IC İçtaş Energy's G1 Erzin 78 Solar Power Plant with an installed capacity of 4 MWe, which will be commissioned in 2, were among the most notable investments of the previous year. On the other hand, we observe that many energy producers are turning to auxiliary capacity increases, especially from solar and wind energy. In addition, Turkish groups such as Zorlu Energy, Eksim Energy and Aksa Energy (Kazancı Holding) continued to increase their power plant investments abroad in 2024.
4 NEW COMPANIES ARE IN THE LIST
Four new companies were included in the MW100 list this year. HABAŞ managed to re-enter the list this year after leaving last year. One of the new companies, Ataseven Group, entered the list from 4th place with the commissioning of the 70 MWe capacity Atares-1. Murat HES Energy, which received 78 new HES licenses in 2024, ranked 4th, while Metgün Energy, which stands out with its HES, BES and RES investments, entered the list from 90nd place. On the other hand, Yeşilyurt Energy, AGE Energy, Peker Energy and Edincik Energy could not be included in the Top 92 list this year.
DIFFERENCE BETWEEN PRODUCTION AND INSTALLED POWER
In the “MW100, Turkey’s Top 100 Electricity Producers Research”, in addition to the installed power, the top 10 companies were also listed according to electricity production, as in the previous year. The companies that produced the most electricity were EÜAŞ, Eren Enerji, Enerjisa Üretim, İÇDAŞ, Limak Enerji, Cengiz Enerji, EMBA Power, Çelikler Holding, Diler Holding and Aydem Enerji, respectively. Despite being in the top 10 in the installed power list, ENKA and Bilgin Enerji could not make it into the top 10 in electricity production.
OKUTUR: 2024 WAS THE YEAR OF THE SUN
Kearney Company Partner, Türkiye and Central Asia Leader Onur Okutur, Pointing out that Turkey’s total installed capacity will increase by approximately 2024 GW in 8.6, he said, “93 percent of this increase came from renewable energy source-based power plants. The biggest increase was in solar energy installed capacity.” Noting that the share of natural gas in installed capacity continues to decrease with the increasing focus on renewable energy investments and carbon-free resources, Okutur said, “The share of natural gas power plants, which provided half of our electricity production in 2014, decreased to 2024 percent in 19.”
KARA: 2025 EXPECTATION NUCLEAR AND STORAGE
Mehmet Kara, Editor-in-Chief of Enerji Günlüğü, pointed out that in the upcoming period, investments in storage facilities and hybrid power plants will have an impact on the increase in installed power and its content. Kara underlined that another expected development that is set to leave its mark on the sector in 2025 is the commissioning of Turkey’s first nuclear power plant, Akkuyu NPP.
Table 1: TOP 10 PLAYERS IN INSTALLED CAPACITY (2024)
| SIRA | Companies | Installed Power (MWe) | |
| 2024 | 2023 | ||
| 1 | 1 | EÜAŞ | 21.802 |
| 2 | 2 | ENKA | 3.978 |
| 3 | 3 | Enerjisa Production | 3.901 |
| 4 | 4 | Cengiz Energy | 3.161 |
| 5 | 7 | Limak Energy | 3.033 |
| 6 | 5 | Eren Energy | 2.818 |
| 7 | 6 | Celikler Holding | 2.769 |
| 8 | 8 | Aydem Energy | 2.125 |
| 9 | 9 | ICDAS | 1.684 |
| 10 | 10 | Bilgin Energy | 1.639 |
Table 2: Electricity production top 10 list 2024
| 2024 Rank | Companies | Total production in 2024 (MWh) | Total production in 2023 (MWh) |
| 1 | EÜAŞ | 52.682.814 | 42.203.768 |
| 2 | Eren Energy | 19.182.899 | 18.389.889 |
| 3 | Enerjisa Production | 12.959.846 | 11.899.749 |
| 4 | ICDAS | 12.889.350 | 11.319.964 |
| 5 | Limak Energy | 12.621.352 | 11.467.316 |
| 6 | Cengiz Energy | 10.660.324 | 9.508.627 |
| 7 | EMBA Power | 9.593.534 | 10.161.728 |
| 8 | Celikler Holding | 8.894.281 | 8.264.925 |
| 9 | Diler Holding | 8.360.360 | 7.768.200 |
| 10 | Aydem Energy | 6.120.066 | 6.597.945 |
