CEO Message
Elif YENER
Energy Group Sector President (CEO)
Dear Stakeholders, The year 2024 was marked by significant developments in the energy sector, shaped by both global and local dynamics. As a vital component of all aspects of life, the transformation of the energy sector continued at full speed. Whi...
Read MoreElif YENER
Energy Group Sector President (CEO)
Dear Stakeholders,
The year 2024 was marked by significant developments in the energy sector, shaped by both global and local dynamics. As a vital component of all aspects of life, the transformation of the energy sector continued at full speed. While global clean energy goals gained even greater emphasis amid geopolitical, environmental, and political instability, the drive toward a sustainable energy future remained a top priority worldwide.
Turkey has sustained its transformation in energy production, particularly through increased investments in renewable energy, with a strong focus on solar energy. In 2024, new records were set in natural gas and oil exploration and production, and a balanced transition strategy was implemented in line with the country's 2053 Net Zero Emissions Target.
Looking at global growth figures, the International Monetary Fund (IMF) forecasted in its World Economic Outlook Update published in January 2025 that the world economy is expected to grow by 3.3% in both 2025 and 2026. While this forecast is consistent with the October 2024 report, it remains below the growth rates observed between 2000 and 2020. Despite the moderate growth expectations, we closely monitor regional differences and potential risks and continue to progress steadily toward our goals.
We Maintained Our Focus and Commitment to Sustainability
At Zorlu Enerji, 2024 was a year in which we maintained our firm commitment to sustainable success, guided by global trends. We continued to deepen our portfolio with a focus on renewable energy and took the lead in the energy transition. In line with our 100% renewable energy goal, we progressed in phasing out natural gas operations from our portfolio. Alongside our financial performance, we also meaningfully improved our ESG (Environmental, Social, and Governance) score, a critical indicator of non-financial success, through our investments in social and environmental initiatives. Our accomplishments in this area were recognized with nine national and international awards, reinforcing our commitment to creating lasting value.
We Delivered a Strong Financial Performance
We delivered a robust financial performance in 2024, achieving a consolidated revenue of TRY 29.658 billion. During the same period, EBITDA reached TRY 12.1 billion, and our Net Financial Debt/EBITDA ratio was maintained at 3.6.
With the successful issuance of a USD 1.1 billion Eurobond, we aimed to strengthen our financial strategies and secure funding for new investments. This issuance enhanced our financial flexibility and attracted strong interest from international investors, enabling us to further contribute to the sector’s growth and transformation.
Our Brands Achieved Global Success in Electrification
Our brands Zes and electrip, operating under Electrip Global Ltd.—a joint venture between Zorlu Enerji and Wren House—continued their growth trajectory. We signed a strategic agreement with Hubject, the world’s largest e-roaming charging network provider, integrating our stations into the European charging network. Through this partnership, approximately 4,000 Zes EV stations in Turkey, along with electrip EV stations in Italy, France, Bulgaria, Greece, Croatia, Montenegro, and Poland, became interoperable with hundreds of e-mobility service providers across Europe. These global partnerships have accelerated the growth journey of our brands, which are committed to advancing low-carbon transportation infrastructure.
SBTi Validation for Our Net Zero Targets
Our net zero carbon targets for 2030 and 2040 were officially validated by the Science Based Targets initiative (SBTi). This recognition affirms the credibility and effectiveness of our climate action strategies at the international level.
Aligned with our net zero roadmap, we took significant steps in decarbonization this year. As we began divesting from natural gas power plants in our international portfolio, we also extended our renewable energy investment vision abroad, further strengthening our commitment to a sustainable energy future.
We remain steadfast in our goal to achieve net zero carbon emissions across all operations and our entire value chain by 2040.
We Delivered a Strong ESG Performance
In 2024, we significantly enhanced our achievements in Environmental, Social, and Governance (ESG) performance, reinforcing the progress we have made on our sustainability journey. We scored 88 points in the ESG assessment conducted by the London Stock Exchange Group (LSEG), improving our previous year’s score of 77. This accomplishment positioned us among the top performers in the industry, reaffirming our leadership with an “A” rating.
In S&P Global’s 2024 Corporate Sustainability Assessment, we increased our score from 49 to 74, reflecting the tangible impact of our integrated sustainability efforts. Strong collaboration with our suppliers also played a vital role in this success. In the 2023 Supplier Engagement Rating (SER) by the Carbon Disclosure Project (CDP), we received an “A” grade and were recognized among the global SER leaders.
We continue to reinforce our achievements in this field by embedding sustainability into every aspect of our business. Through projects that promote social benefit—supporting education, local development, and women’s employment—we remain committed to fulfilling our social responsibilities without compromise.
We Continue to Work for a Greener World
With our investments in renewable energy, commitment to net-zero carbon goals, international accolades, and innovation initiatives, we continued to shape the future of the energy sector in 2024. On our sustainability-focused journey, we are resolute in our efforts to build a more equitable, cleaner, and greener world in cooperation with our stakeholders in Turkey and around the globe.
At Zorlu Enerji, we move forward with confidence to further our industry leadership and sustainability commitments. Through our renewable energy investments, technological innovations, and environmental and social contributions, we will continue to lead Turkey’s energy transformation.
With unwavering confidence in our country’s future, we will carry forward our value-creating efforts in 2025—efforts that support, strengthen, and pave the way for our nation, our industry, and our Company. As we continue this journey, I extend my heartfelt gratitude to our shareholders, business partners, executives, and colleagues for their steadfast support. I sincerely wish that 2025 brings peace and prosperity to our country and the world.
Sincerely,
Elif Yener
President of the Sector
Board of Directors
Ahmet Nazif ZORLU
Chairperson
(1944 – Denizli) Ahmet Nazif Zorlu began his professional career at the family-owned textile business in Babadağ, Denizli. He opened his first textile store in Trabzon. In 1970, Zorlu moved the Company’s headquarters to Istanbul where he laid the foundations of Zorlu Holding with his brother, Zeki Zorlu. Ahmet Zorlu set up his first company, Korteks, in 1976 and consolidated all the group companies under the umbrella of Zorlu Holding in 1990. After acquiring Vestel in 1994, Ahmet Zorlu opened the door to new lines of business for Zorlu Holding. Zorlu’s entrepreneurialism, which began with the textile sector, later manifested in more companies operating in a wide range of industries such as household appliances, consumer electronics, energy, real-estate development, metallurgy, and defense. In addition to his role as a Board Member at Zorlu Enerji, Ahmet Zorlu currently serves as Chairman and Vice Chairman at numerous Zorlu Group companies operating in different industries, primarily Vestel Elektronik Sanayi ve Ticaret AŞ and Vestel Beyaz Eşya Sanayi ve Ticaret AŞ. With a keen interest in NGOs, Ahmet Zorlu sits on the Board of the Foreign Economic Relations Board (DEİK), the Turkish Industry and Business Association (TÜSİAD), Education and Culture Foundation of the People of Denizli (DENSİR), Babadağ Industry and Business Association (BASİAD), and Turkish Home Textile Industrialists’ Association (TETSİAD).
Betül Ebru EDİN
Vice Chairperson
After graduating from Boğaziçi University, Department of Civil Engineering, in 1993, Betül Ebru Edin completed her Master's Degree in Business Administration at Işık University. Edin, who started her business life in banking in 1993, continued her career in the Corporate Banking department at T. Garanti Bankası A.Ş. (Garanti BBVA) in 1997 and served as Deputy General Manager responsible for Project and Acquisition Finance in 2009. Edin, who has been responsible for Corporate, Investment Banking and Sustainability since 2017, worked at Garanti BBVA until 2022. Until 2022, she also served as Deputy Chairman of the Board of Directors at Garanti Yatırım ve Menkul Kıymetler A.Ş. and as a Member of the Board of Directors at Garanti Bank S.A. (Romania). Edin continues her work on the civil society side as the Chairman of the Board of Directors of the Sustainable Development Association (SKD), the Board Member of the Istanbul Foundation for Culture and Arts (İKSV) and the Board Member of the 30 Percent Club. As of 2024, she serves as a board member at Zorlu Enerji Elektrik Üretim A.Ş.
Following the General Assembly held on May 26, 2025, Betül Ebru Edin was elected as Vice Chairperson of the Board of Directors.
Selen Zorlu MELİK
Board Member
(1975 – Trabzon) Selen Zorlu Melik graduated from the Department of Business Administration of the Faculty of Economics and Administrative Sciences at Uludağ University. She began her professional career at Denizbank in 1998. Following her internship at the Bursa branch of Denizbank, she joined Denizbank’s Management Trainee Program in 1999. After working in a number of positions at Denizbank’s head office, Melik attended a Marketing Certificate Program at the University of California, Berkeley in 2001. She began working at the Korteks Yarn Factory in 2002 and became a Board Member of the same company in 2004. Selen Zorlu Melik has been serving as a Board Member of Zorlu Enerji since 2001.
Bekir Cem KÖKSAL
Board Member
(1967 - Ankara) Cem Köksal graduated from the Department of Mechanical Engineering at Boğaziçi University in 1988 and completed his master’s degree at Bilkent University in 1990. Between 1990 and 2001, he worked in the banking sector. Köksal joined Denizbank in 1997 as Executive Vice President and became Head of Finance at Vestel in 2002. Since 2012, he has been serving as a Member of the Board of Directors at Zorlu Enerji. Köksal also serves as a Board Member of the UN Global Compact Türkiye.
Mümin Cengiz ULTAV
Board Member
(1950 - Eskişehir) He possesses undergraduate and graduate degrees from Ankara Science High School and METU Electrical Engineering, Computer and Control Option, as well as a diploma from the Philips International Institute in the Netherlands. After taking technical and management positions at Bimsa and İnfo companies in Turkey and Dornier System GmbH abroad, he worked as Deputy General Manager at NCR and General Manager at Sun Mikrosistemler A.Ş. He served as Chairman of the Board of Directors of the Turkish Technology Development Foundation between 2012-2022 and as an Independent Board Member of Logo Yazılım between 2016-2022. He has been involved in the management team of Vestel Elektronik A.Ş. since 1995 and currently serves as a member of the Board of Directors of Vestel Ventures. Ultav has also served as a Board Member at Zorlu Enerji Elektrik Üretim A.Ş. as of 2024.
Cem MENGİ
Board Member
(1965 – İzmir) Cem Mengi completed his “A Levels” in Mathematics and Physics in the UK in 1984 and graduated from the Department of Management Information Systems of the Faculty of Management and Administration at the International University in 1988. Same year he began his professional banking career at Finansbank and later he served in different private banks namely İnterbank, Körfezbank, Rabobank International NV and ING Bank as Executive Vice President and Deputy General Manager. Lastly, he served at Akbank as the Chairman of the Credit Committee and Executive Board Member in Charge of Loans and Placement. Cem Mengi was a member of the Turkish Industry and Business Association (TÜSİAD), the Foreign Economic Relations Board (DEİK), the International Investors Association (YASED) and the Young Executives and Business People Association (GYİAD). He currently serves as the Founding Chairman at CM Capital Management.
Yusuf GÜNAY
Board Member
He was born in Sinop in 1965. He graduated from Ankara University, Faculty of Political Sciences. He studied Modern Public Administration Techniques and European Community Law at the Royal Institute of Public Administration in England in 1990-91. He became a European Community Law Expert at Ankara University ATAUM. Starting in 1997, he served as the Prime Ministry General Director of Laws and Decisions for 5 years. Since 1999, as a government representative, he served as a member of the General Assembly and Board of Directors of the Press Advertisement Agency and as Deputy Chairman. He served as the founding chairman of the Energy Market Regulatory Authority. He has been elected at the general assembly held in May 2004 for the ERRA (Energy Regulators Regional Organization) Board of Directors, of which the Energy Market Regulatory Authority is a full member since 25 April 2002, which also has 23 autonomous institutions from Central and Eastern European countries and Central Asian Republics as full members, while 4 of them are observer members. Yusuf Günay has also been the Vice President of MEDREG, the Mediterranean Region Energy Regulators Community, since May 2006. At the 6th ERRA (Energy Regulators Regional Organization) meeting held in Istanbul in May 2007, he was elected ERRA president for 2 years. His term as Chairman of the Energy Market Regulatory Authority ended in November 2007. Günay has served as a Member of the Board of Directors at Zorlu Enerji Elektrik Üretim AŞ as of 2024.
Senior Management
Elif YENER
CEO of Zorlu Energy Group
Elif Yener graduated from the Department of Industrial Engineering at Boğaziçi University in 2004. Between 2004 and 2010, she worked in project finance at Denizbank. Subsequently, she pursued an MBA at Columbia University in the United States, graduating in 2011.
In the same year, Yener joined Zorlu Holding and, starting from 2012, served as Strategy and Business Development Manager. In 2014, she transitioned to Zorlu Energy Group, where she held progressively senior roles, including Group Financial Affairs Manager and Director of Financial Affairs. Between 2019 and 2024, she served as General Manager of Financial Affairs.
Elif Yener is a member of the Integrated Reporting Network of Turkey (ERTA) and a signatory of the CFO Principles for Integrated SDG Investments and Finance published by the CFO Coalition under the UN Global Compact.
As of January 1, 2025, Elif Yener has assumed the role of Chief Executive Officer (CEO).
Fuat CELEPCİ
General Manager Responsible for Electricity and Gas Distribution Operations
(1959 - Kayseri) Fuat Celepci graduated from the Civil Engineering Department of the Middle East Technical University in 1982 and received his master’s degree from the Faculty of Law at Bilkent University in 2011. He began his career as a civil engineer at the Turkish Electricity Corporation (TEK) in 1982. In 1984, Celepci joined BOTAŞ, where he served as the Deputy General Manager and a Board Member from 1999 to 2005. After retiring from his role as an advisor to the BOTAŞ General Manager in 2012, Celepci joined Zorlu Energy Group in 2012 and served as the General Manager of GAZDAŞ Gaziantep Doğal Gaz Dağıtım AŞ and Trakya Bölgesi Doğal Gaz Dağıtım AŞ, two Zorlu Energy Group companies, from 2012 to 2016. Since January 1, 2017, Celepci has been serving as the General Manager responsible for Electricity and Gas Distribution Operations at Zorlu Energy Group. Fuat Celepci serves as a Board Member at the Natural Gas Distribution Companies Association of Turkey (GAZBİR)
Murat ŞİMŞEK
CFO, General Manager of Financial Affairs
Murat Şimşek completed his studies at Istanbul University's Department of Econometrics in 2006. Following his undergraduate studies, he received his master's degree in English Business Administration from Istanbul University in 2008. Şimşek, who began his career at Garanti Bank in 2006, worked in various departments in the Corporate and Commercial Banking field at the General Directorate until 2017. He started working at Turcas Petrol in 2017 and held the positions of Corporate Finance Manager and Finance Manager. Şimşek joined Zorlu Holding in 2020 and served as Finance Manager, Finance Director, and Financial Affairs General Manager, respectively. Şimşek assumed the role of Zorlu Energy Financial Affairs General Manager as of January 1, 2025.
Nihat TÜRKSEVER
Deputy General Manager of Business Development
After graduating from Uludağ University with a degree in Industrial Engineering, Nihat Türksever began his professional career. Over the course of 28 years, he has gained extensive management experience on international projects.
In the early stages of his career, he held managerial roles at Enka İnşaat, where he worked on large-scale energy and industrial facility projects in the Netherlands, the United States, Russia, and Turkey. During this time, he specialized in project management, cost analysis and control, contract management, and subcontractor coordination.
He later took on senior executive roles within Zorlu Energy Group, providing strategic leadership in business development, procurement, and contract management. In addition to his responsibilities at the head office, he has also successfully served as the General Manager of Rosmiks LLC, Zorlu Group's subsidiary in Russia, for the past 10 years.
Ayhan AKIN
Deputy General Manager of Projects and Applications
Born in 1979 in Ankara, Ayhan Akın graduated from the Department of Aerospace Engineering at Middle East Technical University in 2003 and completed his master's degree in Mechanical Engineering at the same university in 2006.
He began his professional career at Zorlu Enerji in 2004, where he served in various roles including Project Engineer, Mechanical Group Chief, Construction Manager, and Project Manager in the company’s power plant construction projects. Between 2014 and 2017, he worked on various projects under Çalık Enerji.
In March 2017, he rejoined Zorlu Enerji Group and, since June 1, 2020, has been serving as Vice President of Projects and Applications, responsible for the engineering, procurement, construction, and commissioning (EPC) of both domestic and international projects.
Ersen ÖZYILMAZ
Director of Purchasing and Logistics
Born in 1975 in Istanbul, Ersen Özyılmaz graduated from the Department of Electronic Control Systems at Zonguldak Karaelmas University in 1997. Özyılmaz started his career as a Purchasing Officer in the Technical Purchasing department at Gönpa AŞ and joined Zorlu Energy Group in 2000. He has worked as Purchasing Specialist, Purchasing Supervisor and Purchasing Manager within Zorlu Energy Group for more than 20 years. Özyılmaz has contributed to Zorlu Enerji's purchasing and logistics operations, most recently as Deputy Director of Purchasing and Logistics. He was appointed as Zorlu Enerji's Purchasing and Logistics Director on September 1, 2020.
Ramazan HARBİLİ
Human Resources Director
Ramazan Harbili graduated from the Business Administration Department at Celal Bayar University in 2004. He completed his master’s degree in Management and Organization at the same university in 2006.
He joined the Zorlu Group in 2005 and served as a Human Resources Specialist at Vestel’s Human Resources Department between 2005 and 2009. From 2010 to 2016, he worked as a Human Resources Manager at the Zorlu Holding Human Resources Group Presidency. After joining Zorlu Real Estate in 2016, he held the positions of Human Resources Manager and then Group Manager of Human Resources. Since 2021, he served as the Human Resources Director at Zorlu Real Estate. As of July 1, 2024, Ramazan Harbili has been appointed as the Human Resources Director at Zorlu Enerji.
Fulya Bıçak MUŞTU
Director of Information Technologies and Business Development
(1974-İzmir) Fulya Bıçak Muştu graduated from the Department of Industrial Engineering at Middle East Technical University and completed her MBA at Yeditepe University. Muştu worked as a senior Information Technology Manager at Bimsa, Danonesa, British American Tobacco, Çelebi Holding, Evyap Holding, Balparmak and HD Holding. Having 21 years of management experience, Muştu has served as a Senior Executive responsible for IT in the companies for the last 18 years. She has served as a Member of the Executive Board in various companies. As a result of her professional efforts, she received the USA IDG Global CIO100 Award in 2013; the Dünya Daily Newspaper CIO Award in 2012, 2014, 2017 and 2022; IDC CIO Award in 2016; IDC WIT “Best Business Leader #1” and “Best Transformation Leader #2” awards in 2018. In addition to IT Management, she has also been involved in the structuring of different functions of the management discipline such as Strategy Management, Corporate Process Management, PMO Management in different companies.
Muştu, who has been working as the Director of Information Technologies and Business Development at Zorlu Energy Group since 2020, was included in the 2021 Fortune "Technology Leaders Shaping the Future" list. In 2023, she continues her successful work as one of the "50 Most Influential Technology Leaders" by BMI Business School in cooperation with DataExpert. In addition to her professional management role, she is involved in various volunteering activities such as Kalder EFQM Award Evaluator, ITSMF Turkey Board Member, IDC Advisory Board Member and social responsibility activities for some young people in need.
Tamer AKASLAN
Director of Osmangazi Electricity Retail Sales Inc.
Tamer Akaslan graduated from Istanbul Technical University, Department of Geomatics Engineering in 1993.
He started his career in 1991 as a Survey Engineer at Sae International, where he later served as Project Coordinator from 1995 to 1998. Between 1998 and 2007, he held various positions at İzgaz, including Chief Survey Engineer, Survey and Design Manager, and Project Study Manager. In 2007, he served as Regional Manager at Aksa Natural Gas – Black Sea Region, and in 2008 as Deputy General Manager at Uzfederal Gaz.
Akaslan joined Zorlu Enerji in 2008 and held roles such as Regional Manager of GAZDAŞ Trakya and Director of Natural Gas Distribution for the Trakya Region. Since August 1, 2024, he has been serving as Director of Osmangazi Electricity Retail Sales Inc. within Zorlu Enerji.
Neslihan SEÇEN
Manager of Corporate Communications and Marketing
Neslihan Seçen graduated from Hacettepe University, Department of Translation and Interpreting in 2007. She completed her MBA at Sabancı University in 2019.
Her professional career began in 2007 as a Translator at Gantek Technology. Between 2009 and 2021, she worked at SEDAŞ in various roles including Translator, Executive Office Coordinator, and Corporate Communications Manager.
She joined Zorlu Enerji in 2022 as Corporate Communications Manager. As of July 1, 2024, she served as Corporate Communications Manager at Electrip Global, and as of March 1, 2025, she continues her role within Zorlu Enerji as Manager of Corporate Communications and Marketing.
Halil ÖZ
Group Manager of Electricity Trading and Vehicle Leasing
Halil Öz graduated from Boğaziçi University with a degree in Mechanical Engineering in 2012 and completed his master’s degree in Financial Engineering at the same university in 2017.
He began his career at Ford Otosan in 2012 and joined Zorlu Enerji in 2013 as an Associate Specialist in the Electricity Trading Department. Over the years, he assumed various roles within the same department, including managerial and director-level responsibilities.
In the field of electricity trading, he has been involved in managing generation and consumption portfolios, bilateral agreements, trading strategies, and electricity price forecasting.
As of March 1, 2025, he serves as Group Manager responsible for the Electricity Trading, CEO Office, and Vehicle Leasing departments.
Tamer SOYLU
Group Manager, Sustainability, Quality, and OHS-E
Tamer Soylu graduated from Istanbul University, Faculty of Forestry, with a degree in Forest Engineering in 1998.
He started his career in 2000 as a Project Manager at the TEMA Foundation. Between 2013 and 2014, he worked as Operations Manager at Enat A.Ş.
He joined Zorlu Enerji in 2014, where he served as Environmental and Corporate Responsibility Manager and later as Sustainability Manager.
Since June 1, 2020, he has been serving as Group Manager of Sustainability, Quality, and Occupational Health, Safety & Environment (OHS-E) at Zorlu Enerji.