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Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Recent Amendments to Environmental Impact Assessment Regulation

On 26 May 2017, the Environmental Impact Assessment Regulation has been amended to shorten the time frames for environmental impact assessment (“EIA”) process and to extend the scope of EIA requirement for solar and wind power projects.

Establishment of the Natural Gas Spot Market in Turkey

In line with the government’s objectives to make Turkey a regional hub for natural gas trading, a natural gas spot market has been established by the Natural Gas Organized Wholesale Market Regulation published in the Official Gazette on 31 March 2017.

Draft Amendments to the License-Exempt Electricity Generation Legislation

On 27 January 2017, the Turkish Energy Market Regulatory Authority (“EMRA”) published draft amendments to the license-exempt electricity generation legislation (“Draft Legislation”) on its website for opinions and comments of the public.

Privatization of Domestic Coal-Fired Power Plants in Turkey

The privatization tender of Çayırhan-2 coal reserve area and the construction of a coal-fired power plant project (“Çayırhan-2 Project”) was concluded on February 6, 2017, which has been the first of the new wave of privatization of coal reserves and construction of lignite coal-fired power plants in Turkey in line with the recent incentives regarding utilization of domestic coal reserves for electricity generation. This client alert outlines the main novelties in relation to this new wave of lignite-fired power plant tenders, which is expected to continue with several other privatizations in 2017 as explained below.

Important Changes to the Electricity Market Licensing Regulation

On February 24, 2017, the Energy Market Regulatory Authority (“EMRA”) published a Regulation (“Amending Regulation”) containing important changes to the Electricity Market Licensing Regulation (“Licensing Regulation”), including the removal of the share transfer restriction at the pre-license period for transfers to foreign companies and foreign-capital companies, and changes related to the Renewable Energy Resource Areas (“YEKA”). Highlights of major changes are as follows:

Turkish Health PPP Projects

The Turkish health sector has undergone major reforms over the past ten years as part of the health transformation program. The most important pillar of such program has been the development of public-private partnership (“PPP”) model health campus projects. More than twenty health campus projects with an investment amount of more than € 10 billion have been developed through PPP model in Turkey. They are currently at different stages ranging from tendering to operation, and more than ten health PPP projects are still in the pipeline.

Establishment of the Natural Gas Spot Market in Turkey

In line with the government’s objectives to make Turkey a regional hub for natural gas trading, a natural gas spot market has been established by the Natural Gas Organized Wholesale Market Regulation published in the Official Gazette on 31 March 2017.

Amendments Made in the Electricity Market Licensing Regulation

I.     Introduction

Electricity Market Licensing Regulation ("Regulation"), introduced by Energy Market Regulatory Authority ("EMRA"), regulates (i) pre-licensing and licensing procedures and (ii) rights and liabilities of pre-license and license holders in the Turkish electricity market. 

The Regulation has been recently amended by EMRA with the Regulation Amending the Electricity Market Licensing Regulation ("Amendment Regulation"). The Amendment Regulation has been published in the Turkish Official Gazette on December 23, 2015 and entered into force on its publication date.

Renewable Energy

Energy Market Preferred by Foreign Investors Also in 2015

Energy market has remained as one of the most preferred markets by foreign investors in Turkey also in this year. According to the data of 2015, energy, industry, agriculture and service sectors have been the areas mostly preferred by foreign direct investors in Turkey in the first half of 2015.

Turkish Treasury Is Giving Its Word - The Debt Assumption Model Has Been Adopted

Long awaited legislation on the debt assumption model will benefit PPP and BOT projects in the infrastructure, healthcare and education sectors.

The debt assumption model has been finally introduced recently into Turkish legislation. The new piece of regulation is paving the way for the Turkish Treasury to assume project debt borrowed by project companies in large-scale BOT model infrastructure investments and healthcare and educational campus PPP projects. The Debt Assumption Regulation was published in the Official Gazette on 19 April 2014.

Client Alert: THE NEW PETROLEUM LAW

The Turkish Petroleum Law numbered 6491 ("Law") has entered into force as of June 11, 2013.  The Law has repealed the old Petroleum Law numbered 6326 ("Repealed Law") which was in effect for almost sixty years.

  client_alert-petroleum_law

Conducting Mining Exploration Activities under Turkish Law

by Onur ALPER & Serenat BAYTAN

According to Turkish Law, underground resources are subject to the exclusive ownership and disposition of the State and are not deemed as part of the land in which they are located. Pursuant to Article 4 of the Mining Law (published in the Official Gazette dated June 15, 1985 and numbered 18785) (Law No. 3213) (the “Law”), property rights over the land exclude any existing minerals.  

THE PPP PROGRAMME AND CHANGING BOT REGULATIONS

The lack of harmonisation among the various laws addressing PPPs

The long authorisation process

The numerous legal challenges to the relevant tenders

The lack of unity of approach and lack of real “private law spirit” in the Implementation Contracts (“IC”)

CONDUCTING MINING EXPLORATION ACTIVITIES UNDER TURKISH LAW

According to Turkish Law, underground resources are subject to the exclusive ownership and disposition of the State and are not deemed as part of the land in which they are located. Pursuant to Article 4 of the Mining Law (published in the Official Gazette dated June 15, 1985 and numbered 18785) (Law No. 3213) (the “Law”), property rights over the land exclude any existing minerals.

THE NEW MINING REGULATION INTRODUCES IMPORTANT CHANGES

It has now become eminent that Turkish law-makers are trying to attract foreign and domestic investment by creating more flexible and efficient legal tools, especially for attractive markets such as mining, while creating more competitive yet fair entry-to-market conditions.

Energy Regulations in Bulgaria and Turkey; a Comparative Study

After Bulgaria became a member of the European Union at 2007, EU acquis became part of Bulgarian domestic law and although Turkey is not a member to EU, accession process as a candidate country covers legal compatibility therefore making both these jurisdictions closer to each other, however, still not fully compatible.

INTRODUCING THE UMBRELLA ENVIRONMENTAL PERMIT: “ENVIRONMENT PERMIT AND LICENSE”

The “Regulation on the Permits and Licenses required under the Environment Law” (Environment Permit and License Regulation), introduced in April 2009, sets forth the procedures under the Environment Law for obtaining the permits and licenses for activities listed in Annexes 1 and 2. Under this Regulation:

Reforming The Electricity Market:A Balancing Act

 

The first effects of private sector involvement in the electrical power sector were observed in 1986 with the enactment of Law No. 3996 regulating the build-operate-transfer model and welcoming the private sector - including foreign capital - into the electricity market.  Prior to that time, the electricity market was run by the state, following passage of the nationalization acts from 1938-44. Whereas the first attempts at liberalizing the electricity market had been observed long before, actual liberalization of the electricity market took place only with the enactment of Law No. 4628 on the Electricity Market in 2001.

Turkey’s New PPP Law Is On The Way

The draft of Turkey's long-awaited new law on Public-Private Partnerships ("PPP") is now ready for the parliamentary legislative process.  Although entitled the Law on Public-Private Cooperation Models, the key rationale behind the draft law - as evident from its provisions - is to balance distribution of project risk between public and private parties to contracts. The draft law declares one of its key goals to be allocating risk to the party which can best cope with it, whether public or private.

Privatization in Turkey: Full Steam Ahead

Over the last few years, economic and legislative reforms – as well as a newly established macroeconomic policy that includes a serious privatization program – have built up a strong private sector in Turkey.

 

RENEWABLE ENERGY MARKET OPPORTUNITIES AND LEGISLATION IN TURKEY

In this paper we focus on the renewable energy potential of Turkey. Currently electricity is mainly generated in Turkey using thermal power plants (which consume coal, lignite, natural gas and fuel oil), geothermal energy and hydro power plants. Turkey has no large oil and gas reserves. The main indigenous energy resources are lignite, hydro and biomass.  Accordingly, Turkey has to adopt new, long-term energy strategies to reduce the proportion of fossil fuels in primary energy consumption. Turkey has also taken another recent step which is consistent with its current long-term energy strategies by announcing that it will sign up to the Kyoto Protocol. By doing so, Turkey will commit to cut greenhouse gas emissions, demonstrating its commitment to "clean" technology. The development and use of renewable energy sources and technologies is increasingly becoming vital for the sustainable economic development of Turkey. The most significant developments in renewable production have been observed in wind, hydropower and geothermal energy production.

Nuclear Energy Investments In Turkey: “Nu” and “Clear” Legal Framework

The Nuclear Law [1], which provides general outlines for the commissioning, operation and decommissioning of nuclear power plants, was recently enacted after a long period of debates.  The Nuclear Law establishes the general principles and leaves the implementation thereof to ancillary legislation issued by the Turkish Atomic Energy Institution ("TAEK") or the Ministry of Energy and Natural Resources ("MENR").

[1]Law No. 5710 on the Commissioning and Operation of Nuclear Power Plants and on Energy Sales as adopted by the Turkish Parliament on 9 November 2007, and published in the Official Gazette dated 21 November 2007, No. 26707.

The Renewable Energy Sector: All Powered Up

Faced with the threat of a serious electricity deficit that may occur in the near future, the Government appears to be encouraging the private sector to invest in the energy industry. Recent developments explicitly demonstrate the private sector's interest and appetite for investing in energy generation, especially for the construction of power generation plants employing renewable energy sources.

Nuclear Energy Investments in Turkey: “Nu” and “Clear” Legal Framework

The Nuclear Law,[1]which provides general outlines for the commissioning, operation and decommissioning of nuclear power plants, was recently enacted after a long period of debates.  The Nuclear Law establishes the general principles and leaves the implementation thereof to ancillary legislation issued by the Turkish Atomic Energy Institution ("TAEK") or the Ministry of Energy and Natural Resources ("MENR").

[1]Law No. 5710 on the Commissioning and Operation of Nuclear Power Plants and on Energy Sales as adopted by the Turkish Parliament on 9 November 2007, and published in the Official Gazette dated 21 November 2007, No. 26707.

Turkey, the Energy Bridge

Located at a strategic junction between the world's economic centers and sources of energy, Turkey is poised to become a significant energy hub and energy bridge between major oil producing countries of the Middle East, the Caspian, Africa, and the strong demanding markets of Europe, helping the former to reach out to the markets and the latter to diversify its dependence on a limited number of source countries.

Report on the Energy Sector and Challenges it is Facing

The last quarter of 2006 and the first half of 2007 set the scene for a number of developments in the energy sector, including the initiation and then cancellation of the privatization process concerning the electricity distribution companies and electricity generation facilities. This time frame also encompassed legislative developments concerning renewable energy as well as new steps towards the establishment of the first nuclear power plant in Turkey.

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