Naturel Energy

What Naturel Energy does

Naturel Yenilenebilir Enerji Ticaret A.Ş. (trading as Naturel Enerji, ticker NATEN on Borsa Istanbul) is a Turkish renewable energy company founded in 2009 and headquartered in Ankara, with a regional office in Istanbul. The company operates as a vertically integrated renewable energy platform combining electricity generation, EPC delivery, project development, and operations & maintenance services focused on solar PV and geothermal assets. Group operating capacity comprises 118 MWp of installed solar across 88 unlicensed and 1 licensed power plants, 12 MWp of geothermal capacity, and a 24% stake in Enda Enerji's diversified 189 MWp renewable portfolio (hydroelectric, solar, wind, geothermal). Notable technology assets include Turkey's first solar-integrated battery storage unit (2.064 MWh, completed 2024), a SCADA-based 7/24 remote monitoring platform with anomaly detection, and an in-house R&D subsidiary (Ensoft Teknoloji) developing energy-sector software. The company is majority-owned (58.86%) by Naturel Holding, with the public float representing 35.67% of the 825M TL issued share capital; the group has executed three IPOs across affiliates (Naturel 2019, Esenboğa 2020, Margün 2021).

The company serves industrial manufacturing, commercial real estate, agricultural, and renewable energy investor customers on a project-based B2B basis. Pricing is custom and project-specific, structured around multi-year EPC contracts with transparent investor-relations reporting across the project lifecycle. Distribution is exclusively direct enterprise field sales, supplemented by active participation in industry events (Intersolar Europe, SolarEX Istanbul, Energy Is Future, Sustainability Finance Summit) and a content/investor-relations marketing function. Named enterprise customers include Eti Soda (2,495 kWp ground-mounted industrial plant), İstinyePark AVM (40 MWp retail real estate solar with 8 MWp Phase 2 expansion), and Orjin Maslak İş Merkezi (commercial real estate solar). Geographically, Naturel operates across five Turkish regions (Anatolia, Aegean, Mediterranean, Central Anatolia, Marmara) and, since 2024, has established operating subsidiaries in the Netherlands, Romania, Italy, United Kingdom, Spain, and Greece via its subsidiary Margün Enerji.

Revenue is generated through four streams: electricity generation and trading from owned solar and geothermal capacity, turnkey EPC project delivery for industrial and commercial clients, project development services covering land acquisition, feasibility, licensing, and financial modeling, and recurring O&M contracts including 7/24 monitoring, fault detection, spare parts management, and regulatory compliance. Certifications include ISO 9001, 14001, 27001, 45001, 50001, 14064, and 31000, plus UN Global Compact and UN Women's Empowerment Principles signatories. Headcount is reported in the 51–100 range.

Name

Naturel Energy

Legal name

Naturel Yenilenebilir Enerji Ticaret Anonim Şirketi

Website

https://naturelenerji.com.tr

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

51–100 employees

Short description

Naturel Energy is a Turkish publicly-traded renewable energy company (Borsa Istanbul: NATEN) providing vertically integrated solar and geothermal EPC, project development, O&M, and electricity generation services to industrial and commercial enterprise clients in Turkey and Europe.

Ownership category

akta.pro rank

Product category

Solar Energy EPC Services

NAICS

Solar Electric Power Generation (221114), Geothermal Electric Power Generation (221116), Electric Power Generation (22111)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industry

Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)

Keywords

• Solar energy EPC
• Renewable energy projects
• Solar power plants
• Geothermal energy generation
• Operations and maintenance services

Headquarters

HQ city

Ankara

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Electricity Generation and Trading: Generating electricity from solar and geothermal renewable energy sources and selling it in the electricity market. Group companies operate 118 MWp installed solar capacity and 12 MWp geothermal capacity.
2. EPC (Engineering, Procurement, Construction) Services: Turnkey renewable energy project delivery including engineering, procurement, and installation of solar energy systems for industrial and commercial clients.
3. Project Development Services: Comprehensive project development including land development, feasibility studies, licensing, financial modeling, and investor relations support through the project lifecycle.
4. Operations and Maintenance (O&M) Services: Ongoing maintenance, monitoring, troubleshooting, spare parts management, and technical documentation services for installed renewable energy systems.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels6 records

Core offering

Naturel Energy provides turnkey renewable energy solutions to industrial, commercial, and agricultural enterprises through EPC services for solar energy systems (land-type, rooftop, façade), end-to-end project development (feasibility, licensing, financial modeling), and ongoing operations and maintenance (7/24 SCADA monitoring, fault detection, panel cleaning, inverter testing). The company also operates its own 118 MWp solar and 12 MWp geothermal power plant portfolio in Turkey, with the group's listed arm trading on Borsa Istanbul under NATEN.

Product overview

Naturel Energy is a climate technology company offering a comprehensive suite of renewable energy solutions built around four core service lines: (1) EPC Hizmetleri (EPC Services) covering engineering, procurement, and construction for land-type, rooftop, and facade solar installations; (2) Proje Geliştirme (Project Development) including land development, feasibility studies, licensing, and financial modeling; (3) Bakım Onarım ve İşletme (Maintenance, Repair & Operations) providing 7/24 monitoring, fault detection, energy efficiency analysis, and technical documentation; and (4) Yatırım Hizmetleri (Investment Services) supporting project financing. The company operates a portfolio of solar (GES) and geothermal (JES) power plants across Turkey's Aegean, Mediterranean, Central Anatolia, and Marmara regions, including facilities in Izmir (JES), Bilecik, Konya, Nevsehir, Yozgat, Afyon, Antalya, Adana, and Mugla. Supplementary offerings include rooftop solar energy kits for end consumers.

Differentiator

Problem solved

Functional benefit

Products and services

• EPC Hizmetleri (Solar Energy EPC Solutions) Engineering, procurement, and construction (EPC) services for solar energy projects including land-type, rooftop, and façade solar installations, providing end-to-end project management from design through commissioning for industrial, commercial, and agricultural clients.
• Proje Geliştirme (Project Development) Project development services covering land development, feasibility and technical analysis, licensing processes, financial modeling, and investor relations management for renewable energy investments.
• Bakım Onarım ve İşletme (Operations, Maintenance and Repair) Ongoing operations, maintenance, repair, and technical services for installed renewable energy systems, including periodic maintenance, 7/24 SCADA-based performance monitoring, fault detection and response, energy efficiency analysis, technical documentation, remote software updates, spare parts management, and occupational safety compliance.
• Yatırım Hizmetleri (Renewable Energy Investment Services) Investment services for renewable energy projects, including project financing support and investor relations management for enterprises and investors seeking exposure to solar and geothermal assets.
• Rooftop Solar Energy Kits (Çatı Güneş Enerjisi Kitleri) Rooftop solar energy kits for residential and commercial self-consumption, providing energy cost savings and environmental sustainability.
• İzmir Geothermal Power Plant (İzmir JES) Geothermal energy power plant located in Izmir, part of the group's 12 MWp geothermal capacity, generating and supplying electricity to the grid.

Quantifiable outcome

• Eti Soda project: 1,554 tons annual CO2 reduction equivalent to ~74,933 trees
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Enda EnerjicoreStrategic or Co-development Partner24% shareholding in Enda Enerji Holding A.Ş., which operates renewable energy assets totaling 189 MWp across hydroelectric, solar, wind, and geothermal power plants. This partnership expands Naturel Energy's portfolio and provides access to additional renewable energy production capacity across multiple technology types.
• Ensoft Teknoloji Geliştirme ve ARGE A.Ş.coreTechnology or IntegrationSubsidiary focused on R&D, design, energy sector digital platforms, management automation and control software development. Provides proprietary technology and software capabilities for monitoring, optimization, and energy management systems.
• Margün EnerjicoreStrategic or Co-development PartnerSubsidiary with 47.26% ownership focused on international solar development and installation, and electricity market supply. Margün operates international subsidiaries in UK, Spain, Italy, Romania, Greece, and Netherlands. Also acquired 30.39% of Enda Enerji and holds electricity supply license.
• Esenboğa ElektrikcoreStrategic or Co-development PartnerSubsidiary (62.50% owned) specializing in rooftop solar installations for industrial facilities and commitment services for rooftop energy plants.
• Angora ElektrikminorImplementation/ SI/ Consulting PartnerSubsidiary providing solar O&M (operations and maintenance) services for installed solar power plants.
• Twin ScienceminorStrategic or Co-development PartnerPartnership for Naturel Holding Sustainable Schools project, providing STEM and sustainability workshops for children including robotics, coding, and AI education to support green energy transition and sustainability education.
• Naturel Batarya Sistemleri ve Enerji Yatırımları A.Ş.coreStrategic or Co-development PartnerWholly-owned subsidiary established in 2022 for electricity generation investments with battery storage, including Turkey's first solar-integrated storage unit (2.064 MWh completed 2024).
• DRT Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. (Deloitte Touche)coreOthersIndependent auditor providing annual financial statement audits and assurance services for publicly listed Naturel Energy.

Scale indicators11 records

Recent moves14 records

Expansion highlights5 records

Direct peers

• Lightsource bp: Global solar development and EPC company developing utility-scale and distributed solar projects. Directly comparable in solar EPC services and own-asset development with international geographic footprint.
• BayWa r.e. Global renewable energy developer, EPC contractor, and IPP with significant solar project pipeline. Directly comparable as a vertically integrated solar developer/EPC servicing enterprise customers and operating own generation assets across multiple geographies.
• Akuo Energy: Independent renewable energy IPP and EPC across solar, wind, and storage in Europe and emerging markets. Closely comparable vertically integrated business model focused on project development, EPC, and O&M with a solar-plus-storage technology stack.
• Better Energy: Danish solar PV developer and EPC contractor building utility-scale and commercial solar parks across Europe. Comparable in project development capabilities and cross-border European solar execution.

Broad incumbents

• Enel Green Power: Global renewable energy IPP and developer (subsidiary of Enel Group) operating across solar, wind, geothermal, and hydro. Comparable broad renewable IPP with significant geothermal overlap, though much larger and more diversified.
• Sonnedix: Global solar independent power producer with operating portfolio across multiple geographies. Comparable as a solar-focused IPP, though operates at materially larger scale and broader geographic footprint than Naturel Energy.
• EDP Renewables: Global renewable energy developer and IPP (subsidiary of EDP) with utility-scale solar and wind across Europe, North America, and Latin America. Comparable as a large-scale renewable energy asset developer and operator.
• Iberdrola Renewables: Global renewable energy developer and IPP with substantial solar and wind project development and operating capacity worldwide. Comparable as a major renewable asset owner/developer operating across European and international markets.

Regional players

• Zorlu Energy: Turkish renewable and conventional energy company part of Zorlu Holding with solar and wind development. Comparable as a diversified Turkish energy player with renewable energy generation focus.
• Galata Wind Enerji: Turkish renewable energy IPP listed on Borsa Istanbul with wind and solar operating portfolio. Direct regional peer within the same Turkish renewable market and listed-entity context.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/EnerjiNaturel
• LinkedInlinkedin.com/company/naturelenerji

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries16 records

Funding overview

Funding rounds

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 Naturel Energy