Koray celebrates 70 years of excellence, shaping the built environment and powering a sustainable tomorrow.
The construction of six solar power plants with a capacity of 41.41 MW has begun.
The construction of two solar power plants with a capacity of 1.5 MW has begun.
Signed MoU for 100 MW solar project in Albania and 30 MW battery facility in Latvia.
Completed a 14 MW solar plant in Larissa, Greece — first in EU. Completed strategic portfolio exit from Kartal Renewable Energy.
KARYE, with a 53.4 MW solar power portfolio, was publicly listed on July 16, 2021, and its shares were sold in Q2 2024.
Hun Renewable Energy Production Inc. went public, advancing sustainable energy development.
Signed MoUs in Italy for 130 MW solar + 300 MW battery storage. Public offering of Kartal Renewable Energy Production Inc.
Commissioned a 10.5 MWp biomass power plant in Manisa, diversifying renewable energy portfolio.
Entered Eastern Europe with a 7 MW solar project in Uzhhorod.
Installed 11.94 MW of solar capacity in Central Anatolia (Sivas & Yozgat).
Completed 38.23 MW of solar capacity across Manisa, Izmir, Kahramanmaraş, Konya, Nevşehir, and Mersin — showcasing nationwide execution capability.
Expanded solar presence with a 9.65 MW installation in Manisa.
Hydropower milestone with two hydroelectric plants in Erzurum (12 MW & 14 MW). Completed first utility-scale solar project (6.66 MW) in Manisa.
Commissioned Turkey’s one of the first solar power plant (1 MWp), marking the start of Koray’s renewable energy journey.
Transition to corporate powerhouse with public offering of Koray REIT. Expanded abroad with King’s Academy in Jordan and Hilton Hotel Baku in Azerbaijan. Pioneered green design with Sabancı University Nanotechnology Center, Turkey’s first LEED & BREEAM certified educational building.
Completed first high-rise, İş Bank Headquarters in Ankara. Entered international market with Ajyad Inter-Continental Hotel in Mecca. Developed Yapı Kredi Plaza in Istanbul and completed Turkey’s first intelligent office building, Sabancı Center.
Koray Construction was founded in Ankara in 1956.
Koray Energy is part of Koray Group, www.koray.com .
Koray is an international construction and real estate company headquartered in Istanbul, Turkey. Over the past 70 years, Koray Group has successfully delivered a wide range of projects both in Turkey and abroad, completing landmark developments across the Middle East, North Africa, and Eastern and Southern Europe.
With a legacy rooted in real estate, infrastructure, and architectural excellence, the Group has played a pivotal role in shaping modern urban landscapes through its innovative and high-quality projects. Building on this extensive experience, Koray has also been operating as an independent power producer for more than a decade, expanding its impact from construction and development to sustainable energy generation.
European Renewables Platform
Koray Energy is a dynamic and fast-expanding developer and operator of renewable energy assets, including solar PV and wind power plants, as well as battery storage facilities, with a strategic focus on Eastern and Southern Europe.
The company has successfully developed, financed, constructed, and operated renewable energy projects — encompassing solar, biomass, and hydro — across five countries. Its investment strategy is centered on long-term value creation and sustainable growth.
Established in Luxembourg, Koray Energy serves as a consolidated platform for all international renewable energy initiatives under a unified structure.
With deep expertise in mergers and acquisitions, energy off-take agreements, and project financing, Koray Energy takes a structured and disciplined approach to every stage of development. Its understanding of market dynamics enables the identification and realization of high-potential renewable projects. The company’s proven track record in Eastern and Southern Europe, combined with in-house capabilities across development, EPC, and O&M, provides a strong competitive advantage in scaling small to mid-sized assets efficiently.
Led by an experienced management team with a history of successful IPOs — including two renewable energy companies, Kartal Energy (exited in 2024) and Hun Energy — Koray Energy aims to achieve a public listing on a major European stock exchange. By 2030, the company targets an investment portfolio comprising 1 GW of solar power plants and 1 GW of battery storage facilities, solidifying its position as a leading player in Europe’s energy transition.
Our vision is to create long-term value through strategic investments in renewable energy. We focus on building a balanced portfolio that supports the global transition to clean and reliable power.
To develop, invest in, and operate large-scale renewable energy projects with an understanding of regulations and technology, ensuring long-term impact and sustainable growth.
Board Chairman
CEO Koray Energy - Board Member
Board Member, Koray Group / CEO, Koray Energy
Born in 1980 in Istanbul, İlker Hakan Kayhan graduated from Saint-Benoît French High School in 1999 and from Boğaziçi University with a degree in Mechanical Engineering in 2004. He completed his Master’s degree in Engineering and Technology Management at Boğaziçi University in 2007 and earned his MBA from INSEAD (Paris-Singapore) in 2009.
With nearly two decades of experience in business development, investment, finance, and M&A, İlker Kayhan began his career in 2004 at Unilever Turkey’s Business Development Department. He later served as Business Development Manager at GOSB Technopark and as Investment Manager at Kerten Turkey Private Equity Fund.
He joined Koray Group in 2014 as Investment and Business Development Director and, since 2016, has been responsible for the development, construction, and financing of the Group’s renewable energy investments both in Turkey and abroad.
Currently serving as the CEO of Koray Energy, İlker Kayhan has been a Board Member of Koray Group and Hun Renewable Energy since 2021, and has also been a member of the Board of Koray GSYO since 2025.
Board Member
Board Chairman
Sr. Project Manager
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Project & Business Development Manager
He serves as the Project Development Manager and Project Manager at Koray Energy, where he leads the full cycle of renewable energy projects — from initial development to the commissioning of power plants. His primary focus is on the design, construction, and operational deployment of solar power plants (SPPs) across domestic and international markets.
Since joining Koray Energy in 2013, Alper has played a key role in the company’s first energy investments, contributing to every stage of project execution — from field engineering to project management. Over the years, he has been actively involved in the development and realization of over 300 MW of solar, 40 MW of hydroelectric, 10 MW of biomass, and several hybrid power plant projects.
Born in Salihli, Alper graduated from Sekine Evren Anatolian High School and holds a degree in Electrical and Electronics Engineering from Dokuz Eylül University. He combines deep technical expertise with a strong commitment to advancing renewable energy solutions. His professional interests span solar, biomass, and hydroelectric power generation, with a focus on sustainable growth and innovation within the clean energy sector.
Project & Business Development Manager
Serhat Güleryüz holds a bachelor’s degree in Electrical and Electronics Engineering and has been active in the renewable energy sector since 2015. He brings over a decade of hands-on experience across the full project lifecycle, having supervised more than 100 MW of solar PV installations and managed the operations of approximately 150 MW of utility-scale plants across 25 different sites.
His expertise includes the optimization of O&M operations, the establishment of an inverter repair center along with its technical team, and the design of structured training programs for field personnel. Within EPC frameworks, he has directly managed project development, contract negotiation and administration, procurement processes, logistics coordination, and contractor supervision.
At Koray Energy, he serves as Project and Business Development Manager for international solar PV and battery energy storage (BESS) projects. He is responsible for leading development activities, evaluating investment opportunities, conducting technical and legal due diligence, and managing acquisition and implementation processes from origination to commissioning.
Business Development Manager
He holds a Bachelor’s degree in Electrical and Electronics Engineering from Bilkent University and a Master’s degree in Energy Law and Economics from Hacettepe University. Currently, he is furthering his academic journey by pursuing a Master’s in Business Management – Green Energy and Climate Finance at Berlin Professional School, reflecting his commitment to combining technology, law, and finance within the evolving landscape of sustainable energy.
With more than a decade of professional experience in the energy sector, he has developed a strong and diverse background across EPC (Engineering, Procurement, and Construction), consultancy, and investment domains. His career has been shaped by a consistent engagement with multidisciplinary projects, where he has successfully merged technical proficiency with strategic management.
Throughout his professional journey, he has contributed to numerous international energy initiatives, taking on responsibilities that range from technical audits and feasibility studies to international contract management and project financing. His expertise extends to evaluating renewable energy investments, managing complex stakeholder relations, and aligning business strategies with sustainability objectives.
Since joining Koray Energy, he has been leading business development efforts, focusing particularly on European energy investments, cross-border partnerships, and long-term strategic collaborations. His work emphasizes innovation-driven growth, the integration of green finance principles, and the pursuit of opportunities that support the global transition toward clean and resilient energy systems.
Business Development Expert
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Koray Energy integrates new technologies to maximize power production and supply while lowering development & operational costs
At the beginning of each project, our regional teams work closely with development partners, landowners, technology providers, and other stakeholders to identify and evaluate new opportunities. This early phase focuses on assessing feasibility and potential, supported by our team’s technical and regulatory expertise. By combining local knowledge with market experience, we evaluate key factors such as site location, grid access, land use, and permitting processes. This approach allows us to prepare projects effectively and align them with evolving technologies and energy market requirements.
We manage each step of the development and planning process, including design and technical preparation, to bring projects to construction stage. Our team, with knowledge of local and regional regulations, works together with partners and advisors in economic, regulatory, environmental, and ecological fields.During this phase, we apply structured risk management, authorization processes, and design expertise to ensure projects reach Ready-to-Build (RTB) status in a timely and responsible way, preparing them for the next stage of implementation.
Guided by our procurement and construction management teams, we work with local subcontractors to deliver managed construction and EPC services. Our experienced project managers and health & safety experts ensure every project milestone is achieved with precision and accountability. By integrating cutting-edge technologies and high-quality assets, we maximize project value while minimizing environmental impact. We also maintain close coordination with all stakeholders, ensuring their expectations are met and their interests upheld throughout the realization process.
Our full-scope asset management ensures reliable, high-performance operations through real-time monitoring, AI-powered data analysis, and proactive maintenance. Once a plant becomes commercially operational, we take full responsibility for its ongoing performance—prioritizing availability, security, and efficiency. We actively explore and implement sustainable innovations like agrivoltaics (agrisolar), which enhance biodiversity on our solar farms while optimizing energy output—bringing added environmental value to each project.
Through strategic PPAs, market-based trading, and advanced grid integration, Koray Energy delivers utility-scale renewable electricity directly into national networks and to end consumers. Our trading and sales operations are designed for flexibility and market responsiveness, enabling participation in day-ahead, intraday, and balancing markets as well as innovative commercial models. By ensuring scalable baseload capacity and on-demand renewable supply, we play an active role in shaping a cleaner, smarter, and more sustainable energy future — not just for today, but for generations to come.