Galata Wind continues to invest
Galata Wind continues to invest

Galata Wind continues its activities with the aim of growth in the renewable energy sector and increased its consolidated revenues by 24% to TL 1,072 million in 9M2023 compared to the same period last year. The company's profit before tax increased by 20% to TL 845.8 million in the same period due to the increase in operating profit and net financial income. The EBITDA margin announced for 2023 was maintained at 76%. The net cash (debt) / EBITDA ratio, one of Galata Wind's key performance indicators, was realized at (0.03). With a focus on clean energy generation for a sustainable future, Galata Wind's electricity generation from renewable sources in the last quarter was in line with the same period last year. In the first nine months of 2023, WPP generation amounted to 505,518 MWh, while SPP generation amounted to 41,936 MWh in the same period.

Commenting on the company's financial results, Galata Wind CEO Burak Kuyan said: "As Galata Wind, we have already announced that our investments will gain momentum in 2023-2024 in line with our growth strategy and 2025 targets. With the completion of the first phase of our Taşpınar Hybrid SPP plant, which took slightly longer than expected to be commissioned, and the capacity expansion works at Taşpınar WPP, where we have added two new turbines, we aim to increase our current installed capacity of 269 MW to 299 MW by the end of 2023. In 2024, we plan to increase our installed capacity to over 350 MW through the additional capacity expansion at Mersin WPP with six new turbines and the commissioning of Phase 2 of Taşpınar Hybrid Power Plant. In addition, we are continuing our efforts to reach our 2025 growth target of 550 MW with the European investments we have started with our company Galata Wind Energy Global established abroad."

Galata Wind takes its sustainability goals a big step further

Galata Wind, which invests in sustainable energy sources for a clean future and is committed to generating only renewable energy, has published its first Sustainability Report 2023, which also includes its social, environmental and governance targets outside the strategic management approach. Galata Wind, which has published a report with the SASB sectoral index in the energy sector for the first time in Turkey, has also included the United Nations Global Compact Communication on Progress and the United Nations Sustainable Development Goals Alignment Index in the report.

The company, which is rated by independent international organizations for its sustainability practices, underwent a comprehensive sustainability rating by S&P (Standard & Poor's) Global Ratings in July 2023, and the Environmental, Social and Governance (ESG) score was given as 67 (1-100). According to the results of the analysis conducted by Sustainalytics, Galata Wind's Environmental, Social and Governance (ESG) Risk Rating Score improved from 19.9 to 14.9 this year.