INLAWCO advises international investors in regulatory requirements to operate in the renewable energy market. We also represent foreign groups in due diligences related to acquisition of energy licenses.
Our specialists assists clients with respect to the renewable energy investments under Turkish energy legislation, banks and/or finance institutions providing project financing to the licensee, counseling and drafting suitable loan agreements with banks and/or financial institutions.
Turkey enacted its first specific renewable energy law in 2005, namely Law No. 5346 Concerning the Use of Renewable Energy Resources for the Generation of Electrical Energy but there are also provisions regarding renewable energy in the Electricity Market Law No. 4628 which authorizes Energy Market Regulatory Authority to take measures to promote renewable energy use.
The Electricity Market Licensing Regulation also sets forth several provisions with respect to the utilization of renewable energy resources. Moreover, renewable energy is also regulated by the secondary legislation including, but not limited to regulations and communiqués issued by EMRA and ministerial announcements by the Ministry of Energy and Natural Resources.
Under Turkish laws, all legal entities subject to private law and applying for a license in order to operate in the market, are required to have been established as joint stock or limited liability companies in accordance with the provisions of the Turkish Commercial Code. Our law office advised an important number of project in such restructurings.
We advise also in applications to regulatory institutions, licensing, setting up SPVs, matchmaking between applicants and investors / strategic partners.