November 2026
Largest Energy Production Public Companies in Turkey
Benchmark revenue and EBITDA valuation multiples for public comps like
Tüpraş, Ahlatci Doğal Gaz, Aksa Enerji, Masfen Enerji and Metgün Enerji.
 | Tupras-Turkiye Petrol Rafineleri AS provides and refines crude oil through Turkish and international refineries. It also operates petrochemical factories and facilities. The company’s complete line of products includes liquefied petroleum gas(LPG), fuel oil, waxes and extracts, bitumen, and other products. In addition to refining and producing products, the firm engages in the purchase, sell, import, export, store, marketing, and distribution of a variety of petroleum products. Distribution is completed through a network of foreign and domestic wholesalers and retailers. The majority of sales from refineries are domestic. | $7 | +45% | $13B | $11B | 0.7x | 12.6x | ||
| Ahlatci Dogal Gaz Dagitim Enerji Ve Yatirim AS operates in the field of natural gas distribution. It mainly engages in the natural gas distribution business in Turkey. | $1 | +52% | $2.3B | $2.4B | 2.2x | 23.0x | ||
| Aksa Enerji Uretim AS is an independent power producer, which engages in the power plant installation process that produces energy from natural gas, lignite, the hydroelectric, wind, and fuel oil. It operates through Turkey, Asia and Africa geographical segment out of which Turkey accounts for a majority of the firm's revenue. | $1 | +7% | $1.6B | $2.9B | 3.5x | 12.4x | ||
| Masfen Enerji AS is a solar energy company engaged in the development, construction, and operation of solar power projects in Turkey and Europe. Its services include ground-mounted and rooftop solar solutions, operation and maintenance, financial solutions, and related monitoring and protection products. The company also operates solar power projects as part of its own investment portfolio. | $1 | -- | $389M | $416M | - | - | ||
| Metgun Enerji Yatirimlari AS is engaged in the electricity generation and trading market, focusing on the design, development, and operation of renewable energy facilities, including solar, wind, hydroelectric, and biomass energy production. The company adopts an environmentally conscious approach, aiming to reduce its carbon footprint by generating energy from renewable sources. Its areas of activity are Wind Power Plants, Solar Power Plants, and hydroelectric power plants. | $0 | -- | $258M | $358M | 8.7x | 11.4x | ||
| Ecogreen Enerji Holding AS is a renewable energy company. Its portfolio includes solar, biogas, and biomass-based licensed power plants. The company's core business activity consists of the production of electrical energy from solar power plants, biomass power plants and biogas power plants through its subsidiaries, the sale of the generated electricity, the production and sale of organic and organomineral fertilizers and EPC activities. | $0 | -17% | $200M | $382M | 3.1x | 11.0x | ||
| CAN2 Termik AS is a company operating in the fields of electrical energy generation, procurement and mining. The Company is engaged in the establishment, commissioning, and leasing of domestic coal-based electrical energy production facilities, production of electrical energy, and the sale of the generated electrical energy and/or capacity to customers. | $0 | -46% | $196M | $161M | 1.3x | 6.0x | ||
| Turcas Holding AS is an oil and energy-focused investment company. It is engaged in fuel distribution and lubricants, conventional energy, and renewable energy fields in Turkey. The company is involved in the operation of Shell-branded fuel stations that offer fuel products and lubricants. The operating segments of the group are Oil, Electricity, and Others. The products that are included in the Oil segment are fuel products, lubricants, and engine oil. The Electricity segment consists of power generation activity. | $1 | -5% | $195M | $171M | - | 16.0x | ||
| Galata Wind Enerji is engaged in establishing, commissioning, leasing electrical energy production facilities, and electricity generation. It produces renewable energy and develops battery solutions. The firm designs solar energy systems to produce energy on the roofs of homes, schools, workplaces, fuel stations, and production centers. | $0 | -24% | $193M | $236M | 4.0x | 5.4x | ||
| Ayen Enerji AS is a Turkey-based company engaged in the generation, transmission, distribution, and trading of electricity. The company's geographical segment includes Turkey and Abroad. It generates maximum revenue from Abroad. The company generates the majority of its energy from Hydro plants. The companies located in abroad operate in Albania, Serbia, and Slovenia. | $0 | -16% | $135M | $287M | 1.8x | 7.4x | ||
| ODAS Elektrik Uretim Sanayi Ticaret AS is a Turkey-based company which operates in the fields of energy and mining. The company engages in electricity production, retail sale of electricity and sale of natural gas, and mine manufacturing and sale based on a vertically integrated business model. | $0 | -24% | $132M | $571M | 3.2x | 7.5x | ||
| Biotrend Cevre ve Enerji Yatirimlari AS is engaged in the acquisition of electricity generation companies operating in the fields of landfill gas and biomass electricity generation activities and waste management such as biomethanization, mechanical separation, field operation, and greenhouse in Malatya, Sivas, Iskenderun respectively. | $0 | -52% | $112M | $235M | 4.0x | 17.4x | ||
| Akenerji Elektrik Uretim AS is a power generation company. It is principally engaged in the establishment, renting, and operating facilities of an electrical energy production plant, producing electricity and trading electricity to the customers. The company provides energy systems management and optimization, remote reading, and cogeneration and trigeneration. | $0 | -46% | $102M | $607M | 1.3x | 739.1x | ||
| Cates Elektrik Uretim AS is a company whose main activity is to produce electrical energy and sell the produced electrical energy. It also operates the coal-based Power Plant located in the Catalagzi town of Zonguldak. | $1 | -34% | $90M | $69M | 0.5x | 1.0x | ||
| Enda Enerji Holding AS is engaged in developing and operating renewable energy projects in Turkey, including hydroelectric, wind, and geothermal power plants. The company also supplies electricity to independent consumers via its subsidiary, Ensat Electricity Energy Supply Co. | $0 | -40% | $88M | $144M | 5.9x | (17.4x) | ||
| Tatlipinar Enerji Uretim AS is an Turkey based renewable energy producing corporation which aims in reducing foreign dependency in energy by using domestic and clean energy resources in the most efficient way. | $0 | -79% | $85M | $273M | ||||
| Birlesim Grup Enerji Yatirimlari AS is engaged in producing energy. The company is engaged in energy sector with a particular focus on renewable energy. | $0 | -40% | $65M | $131M | ||||
| Best Brands Grup Enerji Yatirim AS is a renewable energy organization. The company is engaged in the establishment, commissioning, leasing, and participation in existing or future facilities, individuals, and businesses, as well as the production of electrical energy and the sale of the produced electrical energy and/or capacity to customers, both domestically and internationally. Its activities are carried out through its solar power plants are related to electricity generation. | $0 | -- | $59M | $64M | ||||
| Naturel Yenilenebilir Enerji Ticaret is a Turkey-based company engaged in the business of Renewable energy. The electricity generation services offered by the company include Common services, Wind Plants, Solar Plants, and Geo-Thermal Plants among others. It also offers other services such as Wind Measurement, Solar Measurement, and solutions for power transmission lines. | $0 | -70% | $50M | $375M | ||||
| Arf Bio Yenilenebilir Enerji Uretim AS operates in the renewable energy sector. The company is engaged in biomass sector that focused on transforming waste that causes environmental pollution into efficient end products. its Biogas Technology enables the generation of energy from organic waste materials, increases soil fertility with organic-organomineral fertilizers, and generation of electricity. | $0 | -- | $33M | $24M | ||||
| PAMEL Yenilenebilir Elektrik Uretim operates in the renewable energy sector. It holds two hydroelectric power plants with an installed capacity of 6.744 MW in Adiyaman and 7.49 MW in Tortum district in Erzurum province. | $1 | -58% | $25M | $25M | ||||
| Hun Yenilenebilir Enerji Uretim AS is engaged in the establishment, construction, commissioning, leasing, generation of electrical energy, and sale of electrical energy. The company has investments in Solar Energy, Biomass, and Hydroelectric. | $0 | -2% | $23M | $67M | ||||
| Consus Enerji Isletmeciligi Ve Hizmetleri Anonim Sirketi is engaged in investing in renewable resources and implementing special energy solutions needed by industrial organizations on site. Its business areas include BioMass, Solar Energy, Cogeneration, and Electricity Trading. | $0 | -63% | $21M | $145M | ||||
| Aksu Enerji Ve Ticaret AS a Turkey-based company involved in generation and distribution of electricity. It generates Hydroelectric Energy by taking its source from the rivers, Solar energy and Wind energy generated by the construction of turbines in high zones. | $0 | -27% | $18M | $18M | ||||
| A1 Yenilenebilir Enerji Uretim AS Formerly Kartal Yenilenebilir Enerji Uretim AS is engaged in the generation of electrical energy from solar power plants and the sale of the generated electricity to distribution companies. | $0 | -54% | $17M | $23M | ||||
| Zedur Enerji Elektrik Uretim AS focuses on the energy and construction sectors. The company is engaged in electricity generation, distribution and sales. It also specializes in the construction of mass housing, office building, commercial center, shopping mall, factory, luxury hotels, and holiday village buildings as well as in the contracting sector, especially in infrastructure, canal, sewer, and tunnel construction projects. | $0 | -- | $15M | $15M | ||||
| Yayla Enerji Uretim Turizm ve Insaat Ticaret AS operates in diversified business including investing in the energy industry, construction of civil engineering projects and also provides tourism facilities. | $0 | -70% | $11M | $11M | ||||
| Median | $0 | -37% | $90M | $171M | 4.0x | 10.0x |
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