Through its investments spanning from Türkiye to Uzbekistan, ODAŞ is redefining the energy transition not only through its generation capacity but also through engineering expertise, resource efficiency, and sustainable growth. With a multi-layered business model extending from energy security to circular economy initiatives, the company is creating new avenues for regional development.
As agility, resource efficiency, capital discipline, and sustainable growth become increasingly critical in the energy sector, ODAŞ continues to strengthen its regional footprint through investments across energy, mining, and tourism. As emphasized by Zehra Zeynep Dereli, ODAŞ CA General Manager, the company is pursuing a multidimensional growth strategy that integrates engineering, operations, and resource management, extending well beyond conventional power generation.
Since its establishment, ODAŞ has distinguished itself through its agile and opportunity-driven business model. Today, the Group operates through 21 subsidiaries—two of which are publicly listed—10 facilities, and a workforce of more than 1,000 employees. Over the past seven years, ODAŞ has invested approximately USD 500 million in Türkiye and international markets, focusing not only on energy generation but also on strategic metals, mining, and sustainability-oriented projects.
A Strategic Energy Presence in Uzbekistan
One of the most significant milestones in ODAŞ’s international growth journey has been its investment in Uzbekistan. The ODAŞ CA Natural Gas Combined Cycle Power Plant, with an installed capacity of 174 MWe in the Khorezm region, was completed in approximately six months and has emerged as one of the region’s most notable energy projects.
Providing electricity to approximately 500,000 households, the facility meets nearly 35% of the region’s electricity demand. It is also recognized as a critical infrastructure investment contributing to Uzbekistan’s long-term energy security.
A key differentiator of the project is its relocation model. The plant was established through the dismantling and transfer of an existing facility from Türkiye to Uzbekistan, enabling optimized investment costs and enhanced resource efficiency. Today, ODAŞ CA stands among Uzbekistan’s leading privately operated power plants, achieving an efficiency rate of 49%. Furthermore, its 25-year USD-denominated power purchase agreement provides strong long-term revenue visibility.
According to Zehra Zeynep Dereli, ODAŞ CA General Manager, the company views the energy transition not only through renewable energy investments but also through the broader lenses of energy security, cost management, and supply continuity. While aiming to reduce external dependency through the utilization of domestic resources, ODAŞ supports the transition process through natural gas and planned renewable energy investments. In this context, the company’s planned 50 MW solar power project in Uzbekistan represents another important step in its regional transformation strategy.
Creating New Value Through the Circular Economy
ODAŞ’s sustainability approach extends beyond environmental compliance and focuses equally on creating economic value. Fly ash and synthetic gypsum generated at the Çan2 Thermal Power Plant are processed and repurposed for use across various industries.
Since 2020, exports to markets including the United States, Canada, and Europe have generated more than USD 14 million in revenue. In addition, the company is developing a new pumice block and briquette production facility aimed at converting slag generated from coal combustion into construction materials. This investment is expected to establish a new value chain in waste management and the circular economy, further reinforcing ODAŞ’s contribution to sustainable industrial development.
