Margün Energy has announced plans to explore lithium and precious metals in geothermal water at its recently acquired 12 MW geothermal power plant in Seferihisar, western Turkey. The company also revealed intentions to integrate a 5.4 MW photovoltaic unit into the site, creating a hybrid renewable energy facility.
Turkey, ranked fourth globally in geothermal power capacity, is increasingly looking at the potential for lithium extraction from geothermal fluids—a process that could make clean energy projects more profitable. Margün, listed on the Istanbul Stock Exchange since 2021, will carry out the exploration across 3,125 hectares in İzmir province.
The $16 million geothermal facility was purchased from RSC Elektrik and is located in Kavakdere, Seferihisar. While the company confirmed exploration plans, it addressed concerns from locals by clarifying that it has not obtained any mining permits and does not intend to mine lithium. Instead, it is evaluating the viability of extracting lithium directly from geothermal brine.
“Mining lithium and extracting it from geothermal fluid are entirely different processes,” the company stressed, emphasizing its commitment to environmentally conscious development.
In addition to lithium, Margün Energy is investigating the presence of other valuable metals in the geothermal fluid. It also noted that commercial carbon dioxide capture is on the table, and that geothermal investments would support local job creation and greenhouse farming.
The proposed 5.4 MW solar plant, currently awaiting regulatory approval, is expected to produce 10 GWh of electricity per year and generate an additional $1.05 million in revenue. Once operational, Margün’s total installed capacity will reach 135.4 MW.
Margün owns a majority stake in Enda Energy Holding, which operates a diverse portfolio including hydropower, wind, solar, and geothermal projects totaling 200 MW. The company’s share price has surged by 109% since the beginning of the year, reflecting investor confidence in its renewable energy strategy.
