Galata Wind reports TRY 834.4 million in net profit and TRY 1,635.8 million in EBITDA

Continuing its steady growth, Galata Wind increased its wind power generation by 11.7% and solar power generation by 2.1% in 2024 year-on-year.

Galata Wind Enerji A.Ş. continued to grow both globally and domestically in the renewable energy sector, demonstrating a significant performance in 2024. The company's EBITDA for 2024 amounted to TRY 1,635.8 million. Thanks to equity-financed investments, the Net Debt to EBITDA ratio remained at 0.54, while net profit amounted to TRY 834.4 million as a result of inflation accounting practices.

As of year-end 2024, Galata Wind increased its wind power generation by 11.7% year-on-year to 757,907 MWh, while solar power generation increased by 2.1% to 52,220 MWh. Commenting on the year 2024, Galata Wind CEO Burak Kuyan underlined that the energy sector is a highly dynamic investment area that contains opportunities as well as risks, and said: “At a time when we are deeply feeling the effects of the climate crisis, renewable energy is at the heart of transformation and is the key to sustainable growth. The increasing number of natural disasters such as wildfires, droughts and floods all over the world dramatically demonstrates the need for environmentally friendly energy sources. As a company operating exclusively in renewable energy, we aim to increase our renewable energy capacity to over 1,000 MW by 2030, including our projects overseas.”

Galata Wind continued to invest in the Taşpınar Hybrid SPP project, which became operational with its first phase of 16.4 MW in early 2024, and plans to commission the second phase in early 2025. In 2024, 6 Vestas V162 6.2 MW turbines were added to Mersin WPP for a 39 MWe capacity increase. The commissioning of this capacity increase is planned for the first quarter of 2025.

Expectations for 2025

In 2025, Galata Wind will continue to step up its investments in line with its growth strategy and aims to closely monitor acquisition opportunities in Türkiye and abroad. The company has set its annual production target for 2025 in the range of 900,000 - 980,000 MWh, while the projects currently in development, and particularly those in Europe, are planned to move to the investment phase.

Maintaining its leadership in the renewable energy sector, Galata Wind keeps strengthening its commitment to sustainability and carbon reduction targets while continuing its investments.