Limak Renewable Energy

What Limak Renewable Energy does

Limak Yenilenebilir Enerji A.Ş. (Limak Renewable Energy) is a privately-held Turkish independent power producer, 100% owned by Limak Yatırım Enerji Üretim, İşletme Hizmetleri ve İnşaat A.Ş. within the broader Limak Group. Founded in 2004 as Limak Hidroelektrik Santral Yatırımları A.Ş. and rebranded to its current name in 2024, the company operates 11 power plants across hydroelectric (1,008 MWe), solar (119.2 MWe), and geothermal (13.8 MWe) technologies, totaling 1,141 MWe of installed capacity — anchored by Çetin Dam (420 MW), the largest roller-compacted-concrete dam in both Turkey and Europe. Its asset base spans five hydroelectric dams (Alkumru, Çetin, Tatar, Pembelik, Seyrantepe), the Buharkent geothermal plant (Turkey's first pumped-generation geothermal facility), and a solar portfolio that includes the 100 MWe Erzin SPP, Konya Apa SPP, Gönen SPP, and the Buharkent Hybrid SPP, with Alkumru Hybrid SPP in development for 2026.

The company's business model is generation-and-sale of electricity to Turkey's national grid under long-term generation licenses (24-49 years) and YEKA-tendered offtake arrangements, supplemented by sustainable financing through a Green Bond Framework (recognized with the 'Bond Deal of the Year' award at the 10th Istanbul PPP Week in February 2026). Technology differentiators include RCC dam construction, thin-film PV modules optimized for Turkey's variable climate, EPC-built geothermal capacity, and remote performance monitoring systems. Revenue mechanics are usage-based (kWh delivered against regulated tariffs or tendered YEKA pricing), with carbon-credit revenue under Cercarbono and VCS certifications providing an incremental layer.

The company's served customer base is concentrated entirely in the Turkish national energy market, with the Republic of Turkey government as the primary counterparty (including the YEKA GES-4 competition framework under which Erzin SPP was awarded). Headquartered in Ankara with an Istanbul branch at Zorlu Center, the company pursues a stated long-term capacity target of 2,000 MWe and pursues international sustainable-finance investor engagement alongside its domestic regulatory strategy.

Name

Limak Renewable Energy

Legal name

Limak Yenilenebilir Enerji A.Ş.

Website

https://limakrenewableenergy.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

Limak Renewable Energy is a privately-held Turkish independent power producer, 100% owned within the Limak Group, operating 11 hydroelectric, solar, and geothermal plants totaling 1,141 MWe and selling generation exclusively to Turkey's national grid under licensed and YEKA-tendered offtake arrangements.

Ownership category

akta.pro rank

Product category

Renewable Energy Generation

NAICS

Hydroelectric Power Generation (221111), Solar Electric Power Generation (221114), Geothermal Electric Power Generation (221116)

SIC

Electric Services (4911)

akta.pro primary industry

Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal) (EUAEAMAB)

Keywords

• Hydroelectric power generation
• Solar power generation
• Geothermal power generation
• Renewable energy assets
• Green bond financing

Headquarters

HQ city

Çankaya

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D

Revenue model

1. Electricity Generation and Sales: Generation and sale of electricity from hydroelectric, solar, and geothermal power plants to the national grid. Revenue is derived from electricity production volumes and applicable feed-in tariffs or market prices.
2. Green Bond Issuance: Sustainable financing through green bond issuances for renewable energy projects. The company has issued international debt instruments and green bonds to fund expansion of renewable energy capacity.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Limak Renewable Energy operates a portfolio of 11 power plants across Turkey totaling 1,141 MWe installed capacity, comprising hydroelectric (1,008 MWe), solar (119.2 MWe), and geothermal (13.8 MWe) assets. The company generates and sells electricity to Turkey's national grid under long-term generation licenses ranging from 24 to 49 years, and raises capital through international green bond issuances to fund renewable energy expansion.

Product overview

Limak Renewable Energy operates a portfolio of renewable energy power generation assets across three technology types — hydroelectric, solar, and geothermal — managed as distinct product lines under a unified corporate entity. The hydroelectric portfolio includes five dams (Alkumru, Çetin, Tatar, Pembelik, and Seyrantepe), the geothermal segment comprises the Buharkent GPP, and the solar segment covers five plants (Erzin SPP, Konya Apa SPP, Gönen SPP, Buharkent Hybrid SPP, and Alkumru Hybrid SPP in development). The company also offers a Green Bond Framework for sustainable financing of its power plant assets. Total installed capacity stands at 1,141.0 MWe (1,008.0 MWe hydroelectric, 119.2 MWe solar, 13.8 MWe geothermal), with a long-term target of 2,000 MWe. The portfolio includes multiple carbon certifications under Cercarbono and VCS standards.

Differentiator

Problem solved

Functional benefit

Products and services

• Alkumru Dam and HEPP Hydroelectric power plant on the Botan Stream in Siirt Province with 275.52 MWe installed capacity across 4 units, operational since 2011. One of Turkey's largest hydroelectric power plants, holding VCS carbon certificate and multiple ISO quality, environmental, and information security certifications.
• Çetin Dam and HEPP Hydroelectric power plant on the Botan Stream in Siirt Province (Şirvan and Pervari districts) with 420.10 MWe installed capacity across 4 units, operational since 2020. The largest roller compacted concrete (RCC) dam in both Turkey and Europe, standing 165 meters high with a body volume of 4.8 million m³. Holds Cercarbono certification and Zero Waste Certificate.
• Tatar Dam and HEPP Hydroelectric power plant on the Peri Stream spanning Elazığ and Tunceli provinces with 128.22 MWe installed capacity across 2 units, operational since 2013. Holds VCS carbon certificate and ISO 27001 and ISO 50001 certifications.
• Pembelik Dam and HEPP Hydroelectric power plant with 127.34 MWe installed capacity across 2 units, operational since 2015. Holds VCS carbon certificate.
• Seyrantepe HEPP Hydroelectric power plant with 56.84 MWe installed capacity across 2 units, operational since September 2008. I-REC renewable energy certification in progress.
• Buharkent GPP (Geothermal Power Plant) Geothermal power plant in Aydın Province, Buharkent District with 13.77 MWe installed capacity, operational since 2018. Turkey's first geothermal power plant designed for pumped generation and built using the EPC (Engineering, Procurement, and Construction) method. Holds Cercarbono certification.
• Erzin SPP (G4-Erzin-1 Solar Power Plant) Solar power plant in Hatay Province, Erzin District with 100.00 MWe installed capacity, operational since 2024. Won under the YEKA GES-4 competition in 2022. Expected to generate over 260 million kWh annually.
• Konya Apa SPP Solar power plant in Konya Province, Çumra District with 13.1 MWe installed capacity, operational since 2019. Upon opening, became Turkey's third largest licensed solar power plant at a single location. Uses thin-film solar modules and remote monitoring systems. Holds Cercarbono certification.
• Gönen SPP Solar power plant in Isparta Province, Gönen District with 4.95 MWe installed capacity, operational since 2017. First solar power plant in Turkey to receive independent and comprehensive international certification in its first year of operation. Uses thin-film solar modules. Holds Cercarbono certification.
• Buharkent Hybrid SPP Hybrid solar power plant co-located with Buharkent GPP in Aydın Province, Buharkent District with 1.1 MWe installed capacity, operational since October 2023. Shares license with Buharkent JES. Holds Cercarbono certification.
• Green Bond Framework Sustainable finance instrument aligned with green bond principles, enabling Limak Renewable Energy to raise capital for eligible renewable energy projects. Includes Allocation & Impact Report and Second Party Opinion.

Quantifiable outcome

• 1.5 billion kWh annual energy generation from Çetin Dam alone
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered major and supporting.

• GE (General Electric)majorTechnology or Integration · 17 October 2023GE partnered with Limak Energy for the supply, installation, and commissioning of the G4-Erzin-1 solar power plant (140 MWp) in Hatay, Turkey. GE provides key equipment and technical expertise for the solar power plant construction.
• Inogen Energy (İnojen Enerji)majorTechnology or Integration · 17 October 2023Inogen Energy partnered with Limak Energy for the supply, installation, and commissioning of the G4-Erzin-1 solar power plant. Inogen Energy provides solar energy equipment and installation services.
• Energy Academy of Turkey (TEA)supportingStrategic or Co-development PartnerCollaboration with TEA Limak Energy Entrepreneurship Acceleration Program in 2018 led to implementation of performance analysis and remote monitoring systems at Apa SPP.
• Cercarbono Standard OrganizationsupportingOthersCarbon certification under Cercarbono Standard for Çetin Dam and HEPP, Buharkent GPP, Buharkent Hybrid SPP, APA SPP, and Gönen SPP plants. Certificates registered in EcoRegistry, recognized by World Bank.
• Verra RegistrysupportingOthersCarbon certification under Voluntary Carbon Standard (VCS) for Alkumru Dam and HEPP, Tatar HEPP, and Pembelik Dam and HEPP plants. Certificates registered in Verra Registry.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Enerjisa Üretim: Major Turkish independent power producer with a diversified portfolio of hydroelectric, wind, solar, and natural gas-fired plants. Direct comparison point as a Turkish IPP serving the same national grid under similar YEKA-era licensing frameworks.
• Sanko Enerji: Turkish renewable IPP operating hydro, wind, and solar plants selling to the national grid. Comparable in scale, technology mix, and domestic-only focus, with similar reliance on Turkish regulatory framework and lira-denominated revenues.
• Kalyon Enerji: Turkish renewable energy developer and operator with utility-scale solar and wind assets. Compares closely as a YEKA-era participant that combines EPC capability within a larger construction group, similar to Limak's structure.
• Polat Enerji: Turkish independent power producer focused on renewable generation (hydro, wind, solar) selling to the national grid. Closely comparable business model, customer base, and regulatory exposure to Limak Renewable Energy.
• Akfen Yenilenebilir Enerji: Listed Turkish renewable energy holding operating hydro, wind, solar, and geothermal plants. Comparable as a domestic IPP with multi-technology mix and similar off-take to Turkey's national grid.
• Çalık Enerji: Turkish energy group combining EPC, generation, and distribution across multiple countries. Comparable in IPP-style renewable asset ownership and in-house construction capability similar to Limak's structure.
• IC İçtaş Enerji: Turkish IPP and EPC contractor with renewable and thermal generation assets serving the national grid. Comparable in operating model and in having a diversified construction/holding parent.

Broad incumbents

• ACWA Power: Saudi-headquartered global developer, owner, and operator of power generation and desalinated water, with a strong renewables focus. Compares as a much larger emerging-market utility-scale IPP that finances greenfield renewable assets through bond and project finance structures.
• Enel Green Power: Global renewable energy IPP subsidiary of Enel Group operating wind, solar, hydro, and geothermal plants across multiple continents. Comparable as a multi-technology renewables platform with large-scale asset ownership and green bond issuance experience.
• Iberdrola Renovables: Global renewable energy arm of Iberdrola, one of the world's largest wind, hydro, and solar operators. Comparable as a multi-technology renewable IPP with significant scale, long-duration concessions, and active green bond issuance.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/limak-yenilenebilir-enerji

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries11 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Limak Renewable Energy