Energy represents the largest segment of the global industrial economy. Energy, along with utilities and renewables, are commonly seen as among the most promising and attractive fields of investment in the Turkish economy. This is especially supported by the liberalization and privatization activities which have taken place in all segments of the Turkish market during recent decades. Currently, Turkey relies heavily on imported energy because local energy consumption far overshadows domestic production.
The Turkish government is exploring a number of initiatives to reduce the country’s reliance on imported energy and increase domestic energy security. Among other things, this includes incentives for renewable energy generation and research, as well as a plan to build 23 nuclear power plants by 2023.
Our firm understands both the traditional principles and evolving trends in these industries, allowing our clients to keep pace with market and regulatory developments. We provide a wide range of clients with innovative advice and strategic guidance in the local as well as international arenas. We advise clients in all aspects of energy, utilities and renewables, from research and exploration through to generation, distribution and eventual retail to consumers.
Our firm is at the forefront of energy developments in Turkey and assists our clients in navigating the legal and incentive hurdles to investing in renewable energy in particular. Turkey has a significant potential for renewable energy and the government is actively encouraging growth of the country’s renewable energy portfolio, including sources such as solar, hydroelectric, wind, tidal, geo-thermal and bio-fuel. Since Turkey has increased its focus on creating and securing domestic energy sources, the large availability of local renewable sources and continued global push for energy efficiency indicate that Turkey’s renewable market will continue to expand.
Our experience includes advising clients on industrial issues, license applications, cross-border energy distribution, and stock financing related to energy commodities. We often support clients with negotiating, drafting and implementing agreements related to engineering, procurement and construction (EPC), operation and maintenance (O&M), as well as power purchase agreements (PPA). We also regularly counsel clients on asset financing and investment incentive legislation related to energy production.
Turkey’s increasing domestic demand and production capabilities, along with its strategic position as an energy transport hub between Europe and the Middle East, make it an attractive investment option. Moroğlu Arseven is qualified and experienced to provide clients in all areas of these markets with the associated legal and strategic support they require, tailored to each client’s specific needs and sub-sector characteristics.