ODAŞ

What ODAŞ does

ODAŞ (legal name: Odaş Elektrik Üretim Sanayi Ticaret Anonim Şirketi) is a publicly traded Turkish conglomerate founded in 2010, headquartered in Ataşehir, Istanbul, and listed on Borsa İstanbul under the ticker ODAŞ. The group operates across three verticals: electricity generation (thermal and hydroelectric), mining, and tourism. Its core energy asset is the Çan2 Thermal Power Plant located in Çanakkale, with 174MW of installed capacity as of April 2024, operated through the subsidiary ODAŞ CA. The company began with energy production in 2010 and progressively diversified into mining and tourism, growing to more than 1,000 employees. It supplies electricity primarily to the Turkish national grid under a B2B, sales-led go-to-market motion, with no publicly disclosed pricing model.

ODAŞ operates within a regulatory framework that has materially strengthened its market position: it has been a constituent of the BIST 30 index since January 2023 and of the MSCI Turkey index since December 2022, was accepted into the BIST Corporate Governance Index in May 2025, holds a Long-Term National Credit Rating of AA-(tr) from JCR Eurasia Rating (confirmed July 28, 2025, Stable outlook), and has a Corporate Governance Rating of 8.95. Total share capital stands at 1,400,000,000 TL. The ownership structure is dispersed — Burak Altay holds approximately 19.51% (combining direct 16.68% and indirect via 100%-owned BB Enerji Yatırım), Bahattin Özal holds 4.87%, and the remaining ~75.62% is publicly traded. ODAŞ has pursued international expansion beginning with Uzbekistan in 2023.

Strategic positioning has been reinforced through partnerships (Akçansa in October 2024 for strategic business cooperation, Vodafone Business in December 2025 for technology infrastructure and digital transformation), regulatory certifications (ISO 27001 and ISO 27019 for information security), and sustained award accumulation including the Asian Power Awards 2025, PRGN Best Practice Awards (3 awards in November 2025), and consistent inclusions in Capital 500, Fortune 500 Turkey, and Platin Global 100. Leadership is headed by ODAŞ CA CEO Zehra Zeynep Dereli (frequently featured in Forbes Turkey, Elle, Gas & Power, Fortune Leaders Club), Group COO Caner Demirayak (lead voice on digital transformation), and other functional heads covering HR/culture and electricity production. The business model is capital-intensive infrastructure operation with limited disclosed visibility into unit economics or revenue splits.

Name

ODAŞ

Legal name

Odaş Elektrik Üretim Sanayi Ticaret Anonim Şirketi

Website

https://odas.com.tr

Company type

Public

Founded year

2010

Operating status

Operating

Short description

ODAŞ is a publicly traded Turkish conglomerate operating thermal and hydroelectric power generation (174MW installed capacity), mining, and tourism. Founded in 2010, it supplies electricity to the Turkish national grid and is a BIST 30-listed company serving enterprise customers.

Ownership category

akta.pro rank

Product category

Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112), Hydroelectric Power Generation (221111)

SIC

Cogeneration Services & Small Power Producers (4991), Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Thermal Power Plant O&M (Coal, Gas, Oil) (EUAEAGAA)

Keywords

• Electricity generation
• Thermal power plants
• Hydroelectric power
• Mining operations
• Natural gas sales

Headquarters

HQ city

Istanbul

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Energy Production and Mining: Energy generation through thermal power plants (Çan2 Termik Santrali with 174MW capacity) and mining operations. The company started energy production in 2010 and has expanded into mining and tourism sectors.

Go-to-market motion1 record

Core offering

ODAŞ is a publicly listed Turkish group that operates thermal and hydroelectric power plants for electricity generation — anchored by the 174 MW Çan2 Termik Santrali — and runs complementary mining and tourism businesses. The company supplies electricity primarily to the Turkish national grid and has begun expanding internationally into Uzbekistan.

Product overview

ODAŞ is a Turkish conglomerate operating primarily in energy production, mining, and tourism sectors. The company operates thermal and hydroelectric power plants for electricity generation, with its Çan2 Thermal Power Plant being a key asset. ODAŞ CA, a subsidiary, has reached 174MW of installed capacity. Founded in 2010 with energy production, the company has expanded to mining and tourism operations, employing over 1000 people. The portfolio consists of core businesses in energy generation (thermal and hydroelectric), mining operations, and tourism services.

Differentiator

Problem solved

Functional benefit

Products and services

• Thermal Power Generation Electricity generation through thermal power plants, anchored by the 174 MW Çan2 Termik Santrali in Çanakkale, with output supplied to the Turkish national grid. Targeted at utility/grid-scale off-takers.
• Hydroelectric Power Generation Electricity generation through hydroelectric power plants as part of ODAŞ's diversified energy generation portfolio, supplying power to the national grid.
• Mining Operations Mining exploration and production activities conducted as part of ODAŞ's diversified industrial portfolio, complementing its energy generation business.
• Tourism Services

Quantifiable outcome

• 174MW installed power generation capacity

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Vodafone BusinesscoreTechnology or Integration · 26 December 2025Strategic technology partnership announced December 26, 2025. Vodafone Business collaboration for technology infrastructure and digital transformation initiatives.
• KEDV (Kadın Emeğini Değerlendirme Vakfı)minorStrategic or Co-development Partner · 22 April 2025Cooperation with KEDV for 23 Nisan children's project. Corporate social responsibility partnership for social impact.
• AkçansacoreStrategic or Co-development Partner · 9 October 2024Strategic business cooperation between ODAŞ and Akçansa announced October 9, 2024. Collaboration in shared business interests.
• Çanakkale Onsekiz Mart ÜniversitesiminorStrategic or Co-development Partner · 14 December 2023Strategic business cooperation with Çanakkale Onsekiz Mart University for educational and research collaboration.
• DEİK (Dış Ekonomik İlişkiler Kurulu)minorStrategic or Co-development PartnerActive participation in DEİK webinars and meetings. ODAŞ Elektrik Üretim Grubu Başkanı Ahmet Göksal CAN spoke at DEİK webinar representing the company.
• JCR Eurasia RatingcoreOthersInternational credit rating agency providing long-term national credit rating of AA-(tr) with Stable outlook as of July 2025.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Sabancı Holding: Diversified Turkish conglomerate whose portfolio includes Enerjisa — comparable to ODAŞ as a broader industrial conglomerate with significant energy exposure, capital-markets presence, and diversified revenue streams.
• Limak Holding: Turkish conglomerate with construction, energy (including Limak Enerji) and infrastructure — comparable to ODAŞ as a diversified group with thermal/hydro generation, capital-markets access, and Central Asia project experience.
• Çalık Holding: Turkish industrial conglomerate with energy, construction, mining and textiles — directly comparable to ODAŞ in vertical diversification and in operating generation/mining businesses across Turkey and Central Asia.
• Enka İnşaat ve Sanayi A.Ş. Major Turkish construction and energy conglomerate with power-generation assets — comparable to ODAŞ as a large-cap BIST-listed industrial with material energy operations and international footprint.

Direct peers

• Aksa Enerji Üretim A.Ş. Turkish independent power producer operating thermal and renewable plants in Turkey and abroad — directly comparable to ODAŞ as a domestic thermal/hydro IPP with similar customer base (national grid) and listed-equity profile.
• Akfen Enerji: Turkish IPP with renewable and thermal capacity — comparable to ODAŞ as a diversified power-generation operator targeting both domestic and adjacent geographies, with similar capital-markets visibility.
• Sanko Enerji: Energy subsidiary of the Sanko Group with thermal power generation — comparable to ODAŞ as a group-affiliated Turkish thermal IPP with diversified industrial parentage and B2B/grid customer mix.
• Enerjisa Enerji A.Ş. Turkey's largest private electricity generation and distribution company (Sabancı + E.ON JV) — comparable to ODAŞ as a BIST-listed thermal/renewable operator serving the same national grid with overlapping fuel mix and customer profile.
• IC İçtaş Enerji (IC Holding): Energy and infrastructure arm of IC Holding with thermal and renewable generation — directly comparable as a Turkish IPP group operating multiple generation technologies and selling to the national grid.

Others

• Koza Madencilik: Major Turkish mining operator with diversified mineral production — comparable to ODAŞ specifically on its mining segment, providing a read-through on Turkish mining margins, permitting risk, and ESG exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights8 records

Customer concentration

• LinkedInlinkedin.com/company/odas-company

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 ODAŞ