One of Turkey’s first private sector auto-producer companies, Entek was established in 1995 with the purpose of supplying electricity and steam to its customers.
The Company, which started production in December 1998, has a total installed capacity of 362 MW. As of the end of 2018, Entek generates electricity via eight hydroelectric power plants (HEPPs) with total capacity of 265 MW located in Kahramanmaraş, Karaman, Samsun and Mersin and one 97 MW natural gas combined cycle power plant in Kocaeli.
Entek holds a 100% stake in Menzelet Kılavuzlu Elektrik Üretimi A.Ş. which includes the Menzelet and Kılavuzlu HEPPs acquired through privatization, a 100% stake in Eltek which was established in 2003 to operate in energy sales business to procure electricity for both the Koç Group companies and third party consumers at affordable prices, a 50% stake in the 625 MW installed capacity Ayas coal fired power plant project, and a 0.05% stake in Enerji Piyasaları İşletme A.Ş. which was established to operate the Energy Exchange.
Entek continued to take advantage of investment opportunities in 2018.
Entek considers the recent trend of reasonable asset prices in the electricity sector as an opportunity for growth. Within this scope, the Company acquired three HEPPs in the Mersin Mut region, with a combined capacity of 24 MW in October 2017. Entek also submitted the highest bid and won a privatization tender for the Menzelet and Kılavuzlu HEPPs (178 MW) with operating rights for a period of 49 years in September 2017. On 9 March 2018 the Menzelet and Kılavuzlu HEPPs were taken over by Menzelet Kılavuzlu Elektrik Üretimi A.Ş., a 100% subsidiary of Entek, and became operational.
In 2018, Entek realized total sales of 1.5 billion kWh and consolidated revenues of TL 498 million.
Competition in the electricity market continued to intensify with the addition of new technology and high efficiency power plants. This has precipitated the withdrawal of low efficiency natural gas fired power generation plants from the market. However, the Kocaeli plant continues its operations with the
advantage of selling directly to nearby electricity and steam customers.
With the objective of being among the leading power generation companies, Entek is focused on ensuring resource diversification in production and places special priority on renewable energy investments. In the coming period, the Company plans to continue its investments and acquisitions to achieve a balanced production portfolio and gain market share.
In addition, the Company continues its efforts to establish long-term sustainable business models by focusing on distributed energy solutions with the objective of being involved in every step of the energy chain. To this end, Entek aims to increase the energy efficiency of both group companies and third party customers, to enable them to carry out on-site production/consumption and to add value to all stakeholders through smart energy solutions.