Company
Our Story
Founded in 2013 as a small project development Office, Citus Power today is a leading developer and EPC of renewable energy projects active in 8 countries.
2013
Citus Power was founded in 2013 as a small project development Office based in Istanbul, with the purpose of developing and investing in wind projects in Turkey’s flourishing renewable energy sector.
4 wind projects amounting to 230MW were developed. Work scope included site selection, wind mast erection, wind measurements, wind energy yield assessments, micrositing studies, construction project pre-studies and license application to the energy regulatory board.
2014
Citus Power entered the solar PV industry by starting to develop a 9MW project in Kayseri, Turkey.
2015
The 4 wind projects were acquired by Acwa Power, one of the leading energy companies globally.
Our 9MW solar PV project was brought to ready-to-build stage. Shareholders of Citus Power decided to invest in and build the project. An EPC team was built and construction started.
2016
In August 2016, construction of the 9MW Yahyali solar PV project, which was the 6th largest in Turkey at the time, was complete and commercial operation started. Having successfully completed the EPC of the project, Citus Power team also took over the operation of the project on an asset management basis on behalf of its investors.
Citus Power took its first steps into the energy storage industry by educating its team about various storage technologies, applications and business models.
2016-2019
Having developed, built and operated one of the largest solar PV plants in Turkey, our team started to provide technical and financial advisory services to local and foreign investors looking to acquire solar PV plants as investments. Our team identified, audited (technically, financially and legally), financially modelled and valued solar PV plants on behalf of their acquirers and also provided operation and maintenance services on behalf of them.
Various advisory services provided to Turkey’s local electricity distribution companies.
2020
Yahyali Solar PV plant, which was developed, built and operated for 4 years by Citus Power, was exited to another investor.
Citus Power grew its EPC team to service the rapidly growing self-consumption-oriented commercial/industrial rooftop solar PV market in Turkey, as well as the solar + generator microgrid markets in Africa and Asia.
Asa Energy Group, a subsidiary of Citus Power, was founded to develop solar PV and wind projects in Europe. Applications were filed to start develop a 60MW and 65MW solar PV project.
2021
Citus Power started developing a new 50MW solar PV project. An early-stage wind power project under development was acquired.
Various EPC contracts were won in Turkey and Africa to build commercial-scale rooftop and carport solar PV systems.
Culture
Citus Power develops, invests in, and operates its own renewable energy projects as financial assets. Our founders come from a technical backgrounds with financial industry careers.
We look at any renewable energy project as a long term investment, and not just a one-time EPC project. Because we usually operate projects we develop and build, we understand by experience the importance of design, equipment selection, construction quality, and maintenance details. Only with this perspective, solar PV or wind projects can become long term financial assets easy to manage and with minimal headache.
This perspective and experience are at the core of our company culture. Whether we build our own or our clients projects, we treat them the same, as long-term financial assets which need to be designed, built, and operated with the best standards.
Group Companies
Geopol Investments is our investment vehicle through which we conduct our project development and investment activities.
Asa is a joint-venture of Citus Power through which renewable energy projects in Europe are developed and invested in.
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