Mines, power plants and gas networks change hands at scale: USD 6.8bn of disclosed value since January 2023, second only to technology. Turkish groups made most of the purchases; foreign buyers took part in 22 of 184 transactions, for infrastructure and mining.
Ministry of Energy and Natural Resources, installed capacity at the end of 2025 and the 2035 target (January 2026, via Anadolu Agency). İMİB, Maden Sektörü Görünümü 2025, from TİM export data.
Strategic buyers made 144 of 184 energy transactions since January 2023, most of them Turkish groups building portfolios of mines, plants and networks. The median disclosed transaction was USD 10.5m, against USD 1.1m in technology.
Other and unrecorded: every transaction that is not an acquisition or a minority stake, including those without a recorded type. Percentages: acquisitions as a share of transactions with a recorded type.
Foreign investors take positions in infrastructure and mining projects with hard-currency returns.
City gas distribution networks are bought by groups that already run networks elsewhere; EPDK approves each change of ownership.
The state adds wind and solar capacity through YEKA auctions, and operating plants change hands between owners.
Gold, copper and zinc projects drew some of the largest tickets in the sector; a licence transfer needs the ministry’s approval.
Foreign buyers took part in 22 of 184 energy transactions since January 2023. They come for infrastructure and mining, and they buy large: Apollo, SSR Mining, ACG and TotalEnergies.
Transactions with a foreign buyer, by the buyer’s own country.
| Year | Target and buyer | Stake | Value |
|---|---|---|---|
| 2026 | Anagold Madencilik (Çöpler mine)Cengiz Holding TR | 80% | USD 1.5bn80% |
| 2025 | Çayırhan power plant and lignite enterpriseAkçadağ İnşaat Enerji Madencilik TR | 100% | USD 549m100% |
| 2025 | Doğu Biga MadencilikTümad Madencilik TR | 100% | USD 470m100% |
| 2026 | Çayeli copper and zinc mineCengiz İnşaat TR | 100% | USD 340m100% |
| 2025 | İç Anadolu CCGT plantSOCAR Türkiye TR | 100% | USD 225m100% |
| 2024 | Zorlu Enerji Dağıtım (gas)Palmet Enerji TR | 100% | USD 200m100% |
| 2025 | Gökçedağ Rüzgar EnerjiRönesans Yenilenebilir Enerji TR | 100% | USD 121m100% |
| 2026 | Hez Enerji İnşaatMargün Enerji TR | 100% | USD 106m100% |
| Year | Company and investor | Stake | Value |
|---|---|---|---|
| 2025 | BP’s TANAP holding companyApollo Global Management US | 25% | USD 1.0bn25% |
| 2023 | Greeneco Enerjiİş Bankası TR | 50% | USD 130m50% |
| 2024 | Kartal Yenilenebilir EnerjiGüler Yatırım Holding and co-investors TR | 50% | USD 24m50% |
| 2025 | Ignis H2 Energyalfa8 and co-investors DE | Minority | USD 14mMinority |
Globalscope Partners
Recent energy transactions advised by Globalscope member firms in other markets. When the buyer for a Turkish company is abroad, the member firm there works with us; the network spans 51 countries.
Südvolt Germany
Sold to BKW Switzerland
A Globalscope member firm in Germany advised the seller
Sol Navitas Slovenia
Sold to TSG Group France
A Globalscope member firm in France advised the buyer
Leirivolt Portugal
Sold to TSG France
A Globalscope member firm in Portugal advised the buyer
Gevitec Belgium
Sold to TSG France
A Globalscope member firm in Belgium advised the buyer
Transactions advised by Globalscope member firms; each card links to the deal’s page on globalscopepartners.com.
Turkey plans to triple its solar and wind capacity by 2035, from 39.9 GW to 120 GW; new capacity comes through state auctions, and operating plants change hands between owners.
Read the noteTurkish mining assets change hands for hundreds of millions of dollars; the price follows the licence and the project’s stage, and much of it is paid in instalments or on milestones.
Read the noteGas distribution networks are long-life regulated licences; they change hands between Turkish operators, and every step needs EPDK’s approval.
Read the noteSource: Orion Capital Partners’ register of Turkish M&A, January 2023 to September 2026.
