Aksa Enerji Secures $300 Million Loan
Aksa Enerji is continuing to expand its business in Africa—and is stepping up its financing efforts. The Istanbul Stock Exchange-listed energy company is receiving a $300 million loan from the Africa Finance Corporation with a six-year term. Aksa plans to use the fresh capital to advance its power plant investments on the African continent.
This marks the company’s second major financing round from the AFC. Back in 2025, Aksa had already received a seven-year loan of $150 million, at that time to finance investments in African natural gas power plants. With the new agreement, the total outstanding loan volume from the institution thus rises to $450 million.
Aksa has been pursuing a consistent expansion strategy in Africa for years. The company currently operates three plants there: a 370-megawatt gas- and liquid-fuel-fired power plant in Ghana, as well as two additional plants in Mali and Madagascar with capacities of 60 and 66 megawatts, respectively, which run on liquid fuels.
Africa remains the focus of growth
The next expansion phase is already planned. In 2026, Aksa plans to commission new natural gas power plants with a total capacity of 724 megawatts. Projects are planned in Ghana, Gabon, Senegal, and Kazakhstan. In Ghana alone, a 145-megawatt plant is to be built.
In addition, there are further projects in Burkina Faso and the Congo, where the company is developing power plant projects with a capacity of 119 and 50 megawatts, respectively. This underscores that Africa is not merely a supplementary market for the group, but a key growth area.
At the same time, the renewable energy business is growing
While Aksa focuses primarily on conventional and gas-based power generation in Africa, the company is simultaneously driving the expansion of renewable energy in Turkey. Last year, Aksa received an 80-million-dollar loan with an 11-year term from the Turkish Industrial Development Bank (TSKB). The funds are earmarked for investments in two solar power plants in Kirsehir Alic and Gaziantep Pamuk, each supplemented by storage capacities of equal size. The loan includes a one-year grace period.
Aksa now operates 13 solar and wind power projects with storage solutions across ten provinces in Turkey. Together, they have a capacity of 891 megawatts. In addition, the company has an independent storage project with a capacity of 50 megawatts. Once the current projects are completed, Aksa aims to reach the one-gigawatt mark for renewable generation capacity in Turkey.
A diversified energy group
Aksa Enerji was founded in 1997 and is part of Kazanci Holding, owned by entrepreneur Ali Metin Kazanci. The group is not only active in electricity production but also operates gas networks in Turkey through Aksa Dogalgaz and electricity grids through Aksa Elektrik. Through its subsidiaries, the company also has a presence abroad—for example, with an electricity grid in the Samarkand region of Uzbekistan.
By the end of 2025, Aksa had a total installed capacity of 3 gigawatts across seven countries. The group has a particularly strong presence in Uzbekistan, where it operates three gas-fired power plants with a combined capacity of 1.2 gigawatts. In addition, there is a 900-megawatt gas-fired power plant in Antalya, a 270-megawatt lignite-fired power plant in Bolu, and a 188-megawatt fuel oil-fired power plant in Northern Cyprus.
Furthermore, Aksa exports electricity to Iraq and Georgia. The company is thus gradually building a regionally diversified energy portfolio—with Africa as a growing focus and renewable energy as a second strategic pillar.
