The foundation of Karadeniz Holding was laid in 1948 when the late Rauf Osman Karadeniz entered the trade of heavy industrial machinery and products.

For the last 76 years Karadeniz Holding has been one of the most innovative companies leading the energy sector not only in Turkey but in the world, as well as having operations in the finance, real estate, and shipbuilding industries.

The company became a pioneer shortly after entering the energy sector in 1996, where broke new ground with many awards and firsts in Turkey. It received the first wholesale electricity sales license, was the first company to export cross-border electricity and was the first private company to import electricity from Europe. Today, with 250 MW installed capacity in Turkey, Karadeniz Holding continues its investments in thermal, geothermal and solar projects.

In 2007, the company began the production of the first floating power plant "Powership“ fleet with the vision of illuminating the world and becoming the pioneers of the global energy market. For the past 15 years, with its global brand “Karpowership”, Karadeniz Holding has been vesting Turkey's strength and technology to other countries. As of 2022 Karpowership owns and operates world’s largest floating power plant fleet of 40 Powerships with an installed capacity exceeding 6,000 MW. We have a pipeline of with more than 6,000 MW in the works at our shipyards. Karadeniz Holding, which manages the Powership fleet under its international brand Karpowership, produces electricity from Africa to Asia at 15 different locations today. Karpowership covers 10 to 100 percent of electricity production in countries such as Ivory Coast, Ghana, Mozambique, Gambia, Sierra Leone, Guinea, Guinea Bissau, Senegal.

Today, Karadeniz Holding, with operations in 15 countries, continues its investments with 2,600 employees.