Aksa Enerji Reports TRY 3 Billion EBITDA in First Half

Aksa Enerji maintained its strong financial performance in the first half of 2024, achieving TRY 1.5 billion parent company net profit and TRY 3 billion EBITDA. The company continued its global investments during this period while focusing on its sustainable high-growth targets.

Aksa Enerji, Turkey's largest publicly listed independent power producer, announced its consolidated financial results for the first half of 2024. Thanks to strong collection performance in the second quarter, the company's trade receivables from African operations decreased significantly. With positive contributions from both domestic and international operations, EBITDA increased on a quarterly basis in the second quarter, with cumulative EBITDA margin rising to 25%.

Investments Focused on Sustainable High Growth 

Assessing the company's financial results, Aksa Enerji Board Chair and CEO Cemil Kazancı said, "We are accelerating our operations both domestically and internationally in line with our investments focused on 'sustainable high growth'. In the coming period, we will continue to increase our geographic diversification and contribute to energy supply security while creating value for the regions in which we operate."

Aksa Enerji earned the right to obtain preliminary licenses for wind and solar power plants with storage in 10 cities across Central Anatolia and the Aegean regions with a total installed capacity of 891.41 MW, and will continue its growth in this area. In addition to these developments, the company increased the capacity of the Kalecik Fuel Energy Plant, which meets 50 percent of the Turkish Republic of Northern Cyprus's electricity needs, by 35 MW in the first half of the year and raised its installed capacity to 188 MW with the goal of providing uninterrupted energy in the region.

Aksa Enerji, Uzbekistan's largest Turkish investor with three power plants in the country totaling 740 MW installed capacity, is continuing work to commission a 430 MW combined cycle natural gas plant in Talimercan. Meanwhile, work is continuing on a 240 MW installed capacity plant investment in Kyzylorda city in Kazakhstan. The company plans to generate both heat and power at the plant; with the commissioning of the Uzbekistan and Kazakhstan investments, it will bring its installed capacity in Central Asia to 1,410 MW.

The company is also continuing its operations in Africa, where it is proceeding with the construction of a 350 MW combined cycle natural gas plant in Kumasi, Ghana. In Senegal, work is underway on another 255 MW combined cycle natural gas plant.

Upon completion of current investments, Aksa Enerji is expected to double its current installed capacity of 2,644 MW.