About us

From Real Estate to Energy

2025

2025

Koray celebrates 70 years of excellence, shaping the built environment and powering a sustainable tomorrow.

2025 – Romania

2025 – Romania

The construction of six solar power plants with a capacity of 41.41 MW has begun.

2025 - Italy

2025 - Italy

The construction of two solar power plants with a capacity of 1.5 MW has begun.

2025 – Albania & Latvia

2025 – Albania & Latvia

Signed MoU for 100 MW solar project in Albania and 30 MW battery facility in Latvia.

2024 – Greece & Türkiye

2024 – Greece & Türkiye

Completed a 14 MW solar plant in Larissa, Greece — first in EU. Completed strategic portfolio exit from Kartal Renewable Energy.

2024

2024

KARYE, with a 53.4 MW solar power portfolio, was publicly listed on July 16, 2021, and its shares were sold in Q2 2024.

2022 – Türkiye

2022 – Türkiye

Hun Renewable Energy Production Inc. went public, advancing sustainable energy development.

2021 – Italy & Türkiye

2021 – Italy & Türkiye

Signed MoUs in Italy for 130 MW solar + 300 MW battery storage. Public offering of Kartal Renewable Energy Production Inc.

2020 – Türkiye

2020 – Türkiye

Commissioned a 10.5 MWp biomass power plant in Manisa, diversifying renewable energy portfolio.

2019 – Ukraine

2019 – Ukraine

Entered Eastern Europe with a 7 MW solar project in Uzhhorod.

2018 – Türkiye

2018 – Türkiye

Installed 11.94 MW of solar capacity in Central Anatolia (Sivas & Yozgat).

2017 – Türkiye

2017 – Türkiye

Completed 38.23 MW of solar capacity across Manisa, Izmir, Kahramanmaraş, Konya, Nevşehir, and Mersin — showcasing nationwide execution capability.

2016 – Türkiye

2016 – Türkiye

Expanded solar presence with a 9.65 MW installation in Manisa.

2015 – Türkiye

2015 – Türkiye

Hydropower milestone with two hydroelectric plants in Erzurum (12 MW & 14 MW). Completed first utility-scale solar project (6.66 MW) in Manisa.

2014 – Türkiye

2014 – Türkiye

Commissioned Turkey’s one of the first solar power plant (1 MWp), marking the start of Koray’s renewable energy journey.

1990–2010

1990–2010

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.

1970–1990

1970–1990

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.

1956

1956

Koray Construction was founded in Ankara in 1956.

Who We Are As Koray Group

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.

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Who We Are As Koray Energy

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

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.

Our Mission

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.

Global Leadership, Local Expertise
Koray Energy Management Team

Orhun Kartal

Board Chairman

Ilker Kayhan

Board Member, Koray Group / CEO, Koray Energy

Oruc Burak Kavuncu

Board Member

Koray Energy Project Managers and Experts

Nevzat Arslan

Sr. Project Manager

Alper Yıldızhan

Project & Business Development Manager

Serhat Güleryüz

Project & Business Development Manager

Osman Ulaş Er

Business Development Manager

Tolga Bağlama

Business Development Expert

Optimized Energy Systems

Koray Energy integrates new technologies to maximize power production and supply while lowering development & operational costs

Development
Origination: Identifying and Evaluating Opportunities

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.

Development
Development: Preparing for Construction

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.

Development
Realisation: Construction and Commissioning

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.

Development
Operation: Managing and Optimizing Assets

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.

Development
Supply: Delivering Clean Energy to Consumers

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.