Firms To Watch: Project finance/projects

Gedik & Eraksoy’s projects group sits within the overarching banking and finance department and benefits from the firm’s longstanding association with global finance heavyweight A&O Shearman.
The growing projects practice at Orak Attorneys at Law utilises its strength in energy and mining law to focus on projects relating to those spheres.
Due to practice lead Özgün Özok's specialism in banking and finance, Özok Law Firm's projects work focuses on financial matters, advising clients in sectors including energy, transport and healthcare on project finance structuring.
Pekin Bayar Mizrahi's 2021 alliance with Norton Rose Fulbright allows the firm to take on international projects work, with the firm advising on energy and infrastructure matters.
TOCC Attorney Partnership acted for the lenders on several windfarm projects over the past year. The group also counts energy, infrastructure and construction companies among its clients.

Firms in the Spotlight Project finance/projects

Gedik & Eraksoy

Gedik & Eraksoy logo

Project finance/projects Our partners Hakki Gedik and Gökhan Eraksoy established Gedik & Eraksoy in November 2012. For almost a decade, Hakki and Gökhan had been equity partners at a leading local law firm, where they had set up and led a distinct practice group.

View Profile...

Project finance/projects in Turkey

Bezen & Partners

Among the standout financing firms’, Bezen & Partners is a popular choice for multilateral development banks, with the EBRD and Asian Infrastructure and Investment Bank among its representative clients. The group also acts for project owners and borrowers, with strong recent experience in the energy and natural resources, infrastructure and real estate spheres. UK-qualified founding partner Yeşim Bezen is recognised for her expertise in banking, structured finance and project finance transactions and co-heads the department alongside fellow transactional specialist Banu Bölükemini. Aykut Bakırcı spearheads the regulatory side of the practice.

Practice head(s):

Yeşim Bezen; Banu Bölükemini

Other key lawyers:

Aykut Bakırcı; Elvin Erbilgin


‘One of a handful of excellent domestic Turkish firms and among the standout financing firms, while remaining competitively priced.’

‘The team is responsive, capable and understands the importance of value for money.’

‘Banu Bölükemini and associate Elvin Erbilgin are very competent.’

Key clients

European Bank for Reconstruction and Development

Akfen Holding


Rönesans Holding

Hitachi Zosen Inova

PNE Wind, and its subsidiaries

Absa Bank Tanzania

Asian Infrastructure Investment Bank

Akfen Gayrimenkul Yatırım Ortaklığı

Eren Holding

Modern Karton Sanayi ve Ticaret

Medcem Madencilik Yapı Malzemeleri Sanayi ve Ticaret

PNC Bank

Pronet Güvenlik Hizmetleri

Work highlights

  • Advised Modern Karton on a Hermes- and Sinosure-covered €350m financing from ING and DZ Bank for the supply of goods and services from China and Germany regarding a paper mill construction project in Turkey.
  • Advised Akfen Holding on various financings executed by various affiliates for hotel investments in Turkey, Northern Cyprus and the CIS.
  • Advised the EBRD on a project financing for Turkish food company Yayla Agro.

Çakmak Attorney Partnership

Highlighted for its ‘exceptional expertise and experience in projects’, Çakmak Attorney Partnership is widely revered as a force in the market. Equally adept at representing lenders and sponsors, the group packs a punch across the full projects life cycle, from development and construction, through to financing and dispute resolution. Mesut Çakmak is a go-to expert for large-scale projects and co-heads the group together with energy and infrastructure specialists Mustafa Durakoğlu and Zeynep Çakmak. The deep bench also draws on Gökhan Okan, who joined in February 2023 from Verdi Hukuk Bürosu, next-generation partner Ayşe Eda Biçer Özen, and associate Nazli Başak Ayık.

Practice head(s):

Mesut Çakmak; Zeynep Çakmak; Mustafa Durakoğlu

Other key lawyers:

Gökhan Okan; Ayşe Eda Biçer Özen; Nazlı Başak Ayık


‘Exceptional expertise and experience in projects and project finance work, particularly PPP/BOT projects. It advises on the full project cycle, including development, financing, construction, operation and disputes. Lawyers are commercial, punctual, detail-oriented and easy to work with.’

‘Mustafa Durakoğlu is very experienced in complex projects, including negotiations with governmental entities, and has substantial experience in development, financing, construction and operation matters. He is responsive, punctual and provides sound legal advice. We find it easy to work with him.’

‘Associate Selin Erten Yaşar is easy to reach and helpful whenever needed.’

‘For Çakmak, I can easily say that teamwork is the joint action of people working toward the same end goal; it is more than just completing a task for them and they work together effectively. The strength of the team comes from supporting each other, communicating well, and doing their share.’

‘Although the Çakmak members have varying areas of expertise, they still share similar goals, resources, and leadership and with their diverse set of specialised skills, they are able to solve problems as a group. They also have a designated authority figure who resolves their differences and makes decisions.’

‘I would like to say that Mesut Çakmak, who is the senior partner, and Mustafa Durakoğlu, as the young leader, are collaborative leaders, who can span the scope of our business with their in-house trained legal advisers and get them to work as a team with a common goal.’

‘The team is very experienced and collaborative. Gökhan Okan is very friendly, and experienced.’

Key clients

ERG Group

Ceska Exportni Banka

Rönesans Holding

Rönesans and Sonatrach Joint Venture

Garanti BBVA and Bayerische Landesbank (BayernLB)

Çelikler Holding

Gama Holding and Türkerler

Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Siemens Bank and Banca IMI

International Finance Corporation

Landesbank Baden-Württemberg and KfW IPEX-Bank

Work highlights

  • Advising Gama Holding and Türkerler, as the sponsors, on the restructuring of the existing loan facilities extended for the construction and operation of the 2,060-bed İzmir Bayraklı and 1,180-bed Kocaeli Integrated Health Campus projects, tendered out by the Ministry of Health on a PPP basis.
  • Advising a joint venture of Rönesans and Sonatrach on a petrochemical project in Adana, Turkey.
  • Advising ERG, a Turkish conglomerate, on the financing, construction, operation and maintenance of the Ankara-Niğde Motorway Project.

CIFTCI Attorney Partnership in association with Clifford Chance

CIFTCI Attorney Partnership in association with Clifford Chance houses a dominant projects group, which routinely advises on sophisticated, often cross-border, projects in the infrastructure, healthcare, and energy and natural resources spheres. Particularly acclaimed for its finance prowess, the group additionally represents an impressive roster of government bodies, sponsors, investors and others on project development, secondary market transactions, and energy trading matters. Next-generation partner Sait Eryılmaz ‘effectively finds solutions’ and heads a group that also includes talented counsel Gökçe Uzun. Also providing support are associates Başar Kırka, Ali Can Altıparmak and Pelinsu Demircan.

Practice head(s):

Sait Eryılmaz

Other key lawyers:

Gökçe Uzun; Başar Kırka; Ali Can Altıparmak; Pelinsu Demircan; Sida Özler


‘We worked with the team on structured facilities as sponsor/borrower counsel. The team has been very helpful in getting the workstreams moving, with rapid response times, and thorough support on side-matters arising from the market. Billing and cost-management was transparent and reasonable.’

‘The team led by Sait Eryılmaz, which included Başar Kırka and associate Pelinsu Demircan, provided hands-on advice, always within reach for any ad-hoc support needed. Team expertise in benchmark examples and knowledge of LMA standards supported the successful closing.’

‘The team is very professional, dedicated, client-oriented, open to communication and accessible at any time.’

‘The whole team is very involved in the project. It is easy to reach out to lawyers, which is very important for me when the deal involves strict deadlines and a stressful environment. The team is well-experienced in project finance; documentation phase goes smoothly and interaction with banks is easier.’

‘Sait Eryılmaz is reachable and effectively finds solutions. Başar Kırka and Pelinsu Demircan are very experienced in project finance deals, they were very responsive and offered valuable guidance in a stressful environment – their level of expertise is very good in project finance.’

‘I endorse the team’s practice as a leading force in the legal field. Its dedication to excellence, innovative spirit, and client-focused approach makes it a good choice for anyone seeking top-tier legal counsel in the project finance area in Turkey.’

‘A very talented team, which Sait Eryılmaz leads with remarkable effectiveness in his role as a partner. Lawyers demonstrate a commendable ability to meet tight deadlines without compromising on quality.’

‘Başar Kırka stands out as a remarkably talented adviser, known for his responsiveness and adept client management skills. Sida Özler is a promising young lawyer: highly responsive and an attentive listener, which enables her to grasp every aspect of a problem and provide the right feedback consistently.’

Key clients


TAV Havalimanları Holding

Rönesans Holding


Credit Suisse

Standard Chartered Bank

Leading Turkish banks: Ziraat Bank, Akbank, Yapı Kredi, İşbank, Garanti BBVA, Türkiye Sınai Kalkınma Bankası, Denizbank, QNB Finansbank, Türkiye Kalkınma ve Yatırım Bankası


TAV Tunisie




Invest International


TurkExim Bank (Türkiye’s official export credit agency)



Emirates NBD

Export Development Canada (EDC)


Fraport AG Frankfurt Airport Services


China Development Bank (CDB)

Türkiye Wealth Fund


Uludag Energy

Work highlights

  • Advising JP Morgan and the lenders on the ECA-backed financing of the Mersin-Adana-Osmaniye-Gaziantep high-speed rail project.
  • Advising the joint venture of airport operators TAV Havalimanları Holding and Fraport Frankfurt Airport Services Worldwide on project development, structuring, EPC and O&M aspects, and a €1.2bn bridge financing, regarding the renewal of operational rights for Antalya Airport in Turkey.
  • Advising Ziraat Bank, Akbank, Yapı Kredi and İşbank on the secured syndicated financing of the Aydın-Denizli Motorway Project.

Hergüner Bilgen Üçer Attorney Partnership

Noted for its illustrious record in large-scale projects, Hergüner Bilgen Üçer Attorney Partnership has a hand in many of the country’s most high-profile matters. Most notably, firm co-founder Ümit Hergüner is leading the projects advice to South Stream Transport on the region-shaping TurkStream pipeline, which will connect Russian natural gas reserves to Turkey and to Europe. Other key names include managing partner Senem Denktaş, who specialises in PPPs; transactional banking and finance head Piraye Kuranel Başol; and projects and infrastructure partner Aslı Budak. Finance-focused senior associate Sertaç Coşgun recently joined from Güner Law Office.

Practice head(s):

Ümit Hergüner; Senem Denktaş; Piraye Kuranel Başol; Aslı Budak

Other key lawyers:

Sertaç Coşgun


‘The team is highly capable and dedicated to the projects.’

‘Individuals are expert in their fields and most of the time their dedication creates effective results.’

Key clients

Istanbul Metropolitan Municipality

South Stream Transport


Dubai Port World

Fraport TAV Antalya Terminal İşletmeciliği Anonim Şirketi

Export Development Canada

U.S. International Development Finance Corporation







İş Bankası

Work highlights

  • Representing South Stream Transport in the TurkStream pipeline project, which is a major regional energy infrastructure project that connects Russian natural gas reserves to Turkey and to Europe.
  • Representing EBRD, IFC, BSTDB, DEG and a group of commercial banks, as the project lenders, on the Ankara Etlik project, involving the construction and operation of an integrated health campus in the Etlik region of Ankara.
  • Advising DP World Yarımca, as the owner, on every phase of the construction of a new container port in Yarımca.

ASC Law Office

Swift, responsive and easily accessible’, ASC Law Office’s project finance and infrastructure investments group specialises in representing debtors, sponsors and lenders across all core energy and infrastructure sectors. The team’s robust position in the area was recently evidenced by its takeover of Istanbul Grand Airport’s entire legal portfolio. Co-founding partner Okan Beygo steers the practice with strong support from increasingly prominent banking and finance specialist Levent Yetkil and finance partner Fulya Sert Topçu.

Practice head(s):

Okan Beygo; Levent Yetkil

Other key lawyers:

Fulya Sert Topçu; Merve Mert


‘ASC stands out for its prompt, responsive, and accessible services, providing tailored solutions aligned with clients’ commercial interests. Our experience with ASC’s services has been extraordinarily satisfactory in banking finance, project finance, energy, and more in Turkey.’

‘ASC’s core competencies are backed with its team’s specialisation in banking and finance with a best-in-class offering of unique insights and solutions. ASC handles complex legal challenges quite successfully as they are adaptive to changing legal landscapes.’

‘Our collaboration with ASC has been with Levent Yetkil and Fulya Sert Topçu. They both stand out for their robust experience, quick feedback, and strong negotiation and legal drafting skills. ASC is exceptionally dedicated to providing advice with a problem-solving mindset at any time of the project.’

‘ASC is renowned for its swift, responsive and easily accessible services, offering customised solutions that align perfectly with the commercial interests of clients. Our first-hand experience reaffirms ASC’s unparalleled expertise in areas such as banking, finance, project finance and energy in Turkey.’

‘Working alongside ASC has been a distinct privilege, especially in collaboration with Levent Yetkil and Fulya Sert Topçu, who stand out for their remarkable expertise, responsiveness, outstanding negotiation and drafting abilities, and commitment to delivering efficient and business-oriented advice.’

‘Levent Yetkil is easily accessible and up-to-date about the recent developments both in law and industry practices. He seemed to be well supported by qualified associates.’

‘The team is very experienced and collaborative. Fulya Sert Topçu and Levent Yetkil are very experienced and friendly.’

‘We value the group for its collaboration, expertise and can-do attitude. Lawyers stand out for their impeccable follow up, availability and effective work.’

Key clients

T.C. Ziraat Bankası

Türkiye Sınai Kalkınma Bankası

İGA Havalimanı İşletmesi

Work highlights

  • Advising İGA Havalimanı İşletmesi on various matters, including issues related to the airport’s €5.6bn facility agreement.
  • Advising a Turkish bank on securing an additional €33.5m financing for an airport project in Mersin, which follows a build-operate-transfer model with a complex concession agreement.
  • Advising a prominent German bank on an ECA finance facility transaction in the wind power industry, valued at approximately €17m, for the construction of a wind power plant in Turkey.

Ergün Avukatlik Bürosu

Founded in 2016, Ergün Avukatlik Bürosu has quickly established itself as a key player in the field on the back of its ‘extensive knowledge of the project finance market in Turkey’. Distinguished by its close relationships with a broad range of lenders, government entities, project companies and investors, the group contributes particularly strong experience in the energy, transportation and healthcare spheres. Çağdaş Evrim Ergün is widely regarded as a leader for projects and PPP work and co-heads the practice alongside managing partner Burcu Baltacıoğlu.

Practice head(s):

Çağdaş Evrim Ergün; Burcu Baltacıoğlu

Other key lawyers:

Tuğba Aksoy Bozkurt


‘The firm and its lawyers are super responsive. Its advice is always spot on and lawyers have a clear knowledge of the Turkish market. The team always comes up with pragmatic and deal-oriented advice that helps solve any potential issue.’

‘The team is exceptional. Çağdaş Evrim Ergün knows the market very well. Partner Burcu Baltacıoğlu and senior associate Tuğba Aksoy Bozkurt are also key players within the team.’

‘Çağdaş Evrim Ergün is head and shoulders ahead of other advisers in the project field. He is calm, clear in his advice, and a joy to work with. I would rate him as the best adviser on PPP projects and related documentation in Türkiye.’

‘Ergün Avukatlik Bürosu has extensive knowledge of the project finance market in Turkey, knowing the contractual framework established in every single precedent deal as well as any sensitive discussions with public counterparties to conclude the contractual arrangements.’

‘The team always delivers on the clock and with extensive availability to respond to requests. Overall, the firm has a strong project finance/projects practice with strong value-add for us.’

‘Çağdaş Evrim Ergün is very competent and responsive to client requests in a comprehensive manner. He is the one always interfacing with the clients and managing his team in the background. Çağdaş also has strong communication skills, explaining complex issues in a simple and structured manner.’

‘A great law firm and extremely knowledgeable on Turkish law. Great firm to work with as responses are extremely detailed and provided in a timely fashion.’

‘The team is extremely experienced despite its young age, hands-on, always available day/night, a great solution and alternatives generator. While in other deals we would have to chase the legal team and control its work, with Ergün it is the opposite.’

Key clients



JPMorgan Chase Bank

UBS Switzerland


Türkiye İş Bankası

Türkiye Sınai Kalkınma Bankası

Türkiye Kalkınma ve Yatırım Bankası

ISS Tesis Yönetim Hizmetleri

Dumlupınar Sağlık Hizmetleri

Güriş Holding

Güriş İnşaat ve Mühendislik

ADN PPP Sağlık Yatırım

BRS Sağlık Yatırım

Elz Sağlık Yatırım

YZG Sağlık Yatırım

Gaziantep Hastane Sağlık Hizmetleri İşletme Yatırım

QNB Finansbank

T.C. Ziraat Bankası

Türkiye Halk Bankası

Türkiye Vakıflar Bankası TAO

Meridiam Eurasia

GZT Healthcare Investment (which is a subsidiary of Rönesans Sağlık Yatırım)

Fernas Otoyol İşletmesi

Fernas İnşaat

Nakkaş Otoyol ve Yatırım İşletme

RNS PPP Altyapı Ticaret


Japan Bank for International Cooperation

Sumitomo Mitsui Banking Corporation


Standard Chartered Bank

The Dai-ichi Life Insurance Company

Iyo Bank

Shinkin Central Bank

Ministry of Environment, Urbanisation Climate Change

Turkish Environment Agency

The Economic Cooperation Organization Trade and Development Bank

Credit Suisse

Work highlights

  • Advised the project company (Gaziantep Hastane Sağlık Hizmetleri İşletme Yatırım) and the sponsors (Meridiam Eurasia and GZT Healthcare Investment) on the successful financial restructuring of the Gaziantep Health Campus public-private partnership (PPP) project.
  • Acted as Turkish law counsel to the lenders (Bankinter, CaixaBank, JPMorgan Chase Bank and UBS Switzerland) on financing the construction of a petrochemical plant for the production of purified terephthalic acid in Adana, Turkey.
  • Advised the sponsors (Güriş Holding and Güriş İnşaat ve Mühendislik) and the borrower (Dumlupınar Sağlık Hizmetleri) on the financing of the Kütahya City Hospital PPP.

Esin Attorney Partnership, a Member Firm of Baker McKenzie International, a Swiss Verein

As evidenced by its multinational client list, Esin Attorney Partnership, a Member Firm of Baker McKenzie International, a Swiss Verein’s team forms a key part of the wider firm’s global projects offering. The group acts for an array of domestic and international lenders and energy, mining and infrastructure companies on the full scope of related work, including project development, financing and operational matters. Newly promoted partner Nigar Gökmen heads the projects practice, while Muhsin Keskin spearheads the overarching banking and finance department. Finance specialist Simon Morgan recently relocated from Baker McKenzie‘s Moscow office.

Practice head(s):

Nigar Gökmen; Muhsin Keskin; Simon Morgan


‘Each member of the Esin team has a strong educational background and is specialised in their field, with up-to-date experience. Yet, lawyers proactively engage other team members with different specialisations that they feel will contribute to the service provided.’

‘Esin’s international reach is highly extensive and involves competent external lawyers and consultants whenever required. Esin’s team displays strong interpersonal skills and their overall leadership in any undertaking is exemplary.’

‘Nigar Gökmen has a very strong background in construction and infrastructure deals as well as disputes which helps her to understand our needs and guide us accordingly based on her extensive experience in any suggested course of action.’

‘Muhsin Keskin and Nigar Gökmen are two outstanding partners in project finance and projects in Turkey.’

‘In this field, having a team of experts in many subjects creates the most useful situation for you. Esin Attorney Partnership is almost the only firm that can provide this combination at this level. It is a pleasure to work with the team in every aspect; lawyers provide peace of mind and the feeling of being in safe hands.’

‘Muhsin Keskin is already a genius for us and for this industry. Not only with his experience but also with all his competencies and skills.’

‘Nigar Gökmen is a name that we are sure will dominate the EMI sector in a few years.’

‘A perfect team with an extensive number of lawyers. Muhsin Keskin is the only contact point in Turkey for project finance.’

Key clients

SACE (Italian Export Credit Agency)

Euler Hermes

UK Export Finance

Enerjisa Enerji Üretim

Ferrovial Aeropuertos España

OYAK (Turkish Military Pension Fund)

Erdemir Madencilik

Ataer Holding


Standard Chartered Bank

ING Bank

Intesa Sanpaolo

Yapı ve Kredi Bankası

Türkiye Sinai Kalkınma Bankası

Türkiye İş Bankası

Agence Française de Développement (AFD)


Socar Türkiye

RWE & Turcas Guney Elektrik Üretim

Alacer Gold

IC Ictas Insaat Sanayi ve Ticaret

Çalık Enerji

YDA Havalimanı Yatırım ve İşletme Anonim Şirketi

Work highlights

  • Advised three Turkish construction companies on their projected investment in Africa as the EPC contractor of the Kampala-Jinja Expressway tendered out by the Uganda National Roads Authority.
  • Advised YDA Havalimanı Yatırım ve İşletme Anonim Şirketi on the construction and operation of licence-exempt energy generation facilities, including EPC contracts, and operation and maintenance contracts.
  • Advised Türkiye Petrolleri on a $368.8m Eksportfinansiering Norge/ECA-backed term loan facility provided by Citibank to finance the development of Phase I of the Sakarya Gas Field Development project.

GKC Partners (in professional association with White & Case)

GKC Partners (in professional association with White & Case)’s projects group impresses sources with its ability to provide ‘great commercial contributions’. Striking a balance between lender and sponsor-side mandates, the team’s recent experience spans the transportation, healthcare, and energy and natural resources sectors. Managing partner Güniz Gökçe anchors the practice and is noted for her particular expertise in cross-border financings. The group also includes up-and-coming projects specialist Ateş Turnaoğlu, banking and finance partner Gökçe Uluç and senior associate Baran Abur.

Practice head(s):

Güniz Gökçe; Ateş Turnaoğlu

Other key lawyers:

Gökçe Uluç; Baran Abur; Aybike İplikçi; Kaan Alkan


‘The team is comprised of very experienced and dedicated individuals. Lawyers are easy to reach and very very punctual, even for complex issues. With its experience in many other transactions, the team not only provides legal assistance to the projects but also makes great commercial contributions.’

‘All of the members of the team are excellent. Very experienced, easy to communicate with, dedicated and oriented towards problem-solving.’

‘GKC Partners can cover both international and local counsel roles in a single project, which makes the process smooth and efficient for clients and shortens delivery time in most cases. It has the capability to address the needs of many clients in a single deal and prepares exceptional-quality work.’

‘I have had the opportunity to work with Güniz Gökçe and Gökçe Uluç and they are all very competent lawyers, who drive the project development and financing process with exceptional stakeholder management tact and skills.’

‘The team is well experienced, highly responsive and service-focused. It has impressive legal expertise and the ability to assess complex issues and translate them into practical solutions, as well as an open-minded spirit, a problem-solving attitude and loyalty.’

‘As individuals, their ability to understand and address the issues helps significantly throughout the processes. It is always easy to reach out and communicate our messages.’

‘GKC Partners’ ability to run deals, its thorough approach in leading clients and ability to problem solve in a timely manner deserve respect. The team consists of highly capable individuals who are well-educated and competent in their areas. I personally have never had an unanswered question in my liaisons with GKC.’

‘Ateş Turnaoğlu and Kaan Alkan have been exceptional business partners. Ateş is very intelligent and resourceful. He helps with every complicated problem, offers solutions and leads the process whenever needed. Kaan is very disciplined and well educated.’

Key clients

SASA Polyester Sanayi

Güriş İnşaat

Enerjisa Enerji Üretim

Deutsche Bank

Akbank TAŞ

T.C. Ziraat Bankası




Borusan EnBW Enerji Yatırımları ve Üretim

Türkiye Sınai Kalkınma Bankası (TSKB)

Work highlights

  • Represented Enerjisa Üretim on the $102m Export Credit Agency-backed commercial green financing provided by HSBC Group for the development of the Erciyes wind power plant and solar hybrid power plants.
  • Advised SASA Polyester on a €583m CESCE-supported facility provided by a consortium of lenders, led by JP Morgan, for the financing of a petrochemical plant in Adana, Turkey.
  • Represented Güriş İnşaat on the development of the Kütahya Hospital PPP, where financing was provided by ICBC, IŞ Bank, TSKB and Ziraat Bank.


KILINÇ LAW & CONSULTING houses a broad projects and infrastructure practice that covers a wide mix of energy law, project finance, capital markets and M&A-related matters. The three-partner group is particularly noted for its close relationship with Arz Venture Capital Investment Fund, for which it has undertaken several projects over the past year. Key contacts include founding partner Levent Lezgin Kılınç; M&A and projects head Seray Özsoy Yavuz; maritime specialist Duygu Doğan Şahiner; and senior associate Gülenay Çapkınoğlu Kavcar.

Practice head(s):

Levent Lezgin Kılınç; Seray Özsoy Yavuz; Duygu Doğan Şahiner; Gülenay Çapkınoğlu Kavcar


‘The team is unique, well-experienced, very responsive and dynamic. Lawyers have deep understanding of the local legal system and international best practices and are up-to-date on emerging matters and new techniques in legal practice, which provides for comprehensive and effective legal solutions.’

‘The team’s dynamic approach enables it to adapt quickly to evolving legal landscapes, delivering innovative strategies that meet the unique needs of each client.’

‘The firm has a very distinguished partner, Levent Lezgin Kılınç, which whom I collaborated on multiple international projects that required profound legal experience in navigating long-term financing models, oil and gas regulations, and the adoption of worldwide best practices for PPPs, which he possessed.’

‘This firm’s project finance department is truly exceptional and distinguishes itself in several remarkable ways, making it a standout choice for potential clients seeking specialised financial legal services.’

‘What sets this practice apart is its unwavering commitment to delivering comprehensive and innovative solutions. One of its key strengths lies in its team of seasoned experts who possess a deep understanding of the complex world of project finance.’

‘One of the unique aspects of this practice is its dedication to fostering collaboration both internally and externally. The team operates in a highly collaborative manner, pooling their collective knowledge and experience to provide clients with the most effective and tailored financial solutions.’

‘The individuals we have the privilege of working with truly stand out in the legal landscape. Specifically, Levent Lezgin Kılınç, Seray Özsoy Yavuz, and Duygu Doğan Şahiner have consistently demonstrated exceptional qualities and expertise in the realm of PF, making them invaluable assets to our team.’

‘The team comprises business-minded associates who know and understand the intricacies of project finance, especially for a state-owned company group. Lawyers are financially capable, which is not the case for many law firms, and due to working with our company continuously, they know what we want.’

Key clients

SOCAR Group Companies (SOCAR Turkey Enerji & SOCAR Turkey Petrol Ticaret & SCR Müşavirlik ve İnşaat Anonim Şirketi)

PETKİM Petrokimya Holding

TANAP (Trans Anatolian Natural Gas Pipeline)

STAR Rafineri

Arz Venture Capital Investment Fund

Kızılay Holding and its Venture Capital Investment Fund

RMA Group

Mersin International Port (MIP)

PSA International/Global PSA

Doka Kalıp-İskele Sanayi ve Ticaret

Pasha Holding LLC



The increasingly prominent team at ÖzmenYalçin has made significant inroads into the market since its establishment in March 2022. Acting for a mix of financial institutions and borrowers on project finance matters, the group has notched up a particularly strong run of involvement in energy projects. The team is led jointly by Ömer Gökhan Özmen, who specialises in banking, finance and corporate work, and Güneş Yalçın, who has an emphasis on banking, finance and capital markets law. Next-generation partner Damla Keskin Şerbetcioğlu is also recommended.

Practice head(s):

Ömer Gökhan Özmen; Güneş Yalçın

Other key lawyers:

Damla Keskin Şerbetcioğlu; Utku Aydın


‘ÖzmenYalçın is remarkably good at being client-oriented. From a glimpse of a situation, lawyers can easily detect what a client needs to do. Whenever our company needed the team, it was accessible. The team always maintains a good attitude, and this reflects on its approach to negotiations.’ 

‘The team’s billing policy is super-transparent and very easy to understand, there has not been an issue about any expense or billed time. We have not faced anything we have not expected. The diversity among the team is very deep and luckily, it helps you to communicate with the team.’

‘We worked with Güneş Yalçın and Utku Aydın. They offer unique expertise in each area. We did not face any problem in terms of legal knowledge. Also, we were satisfied with their soft skills which play a key role during projects. Güneş Yalçın did an amazing job when negotiations stuck between parties.’

‘The team is very experienced and collaborative.’

‘Damla Keskin Şerbetcioğlu is very experienced and friendly.’ 

‘The firm was collaborative and, compared to other firms, its billing was quite fair.’

‘Damla Keskin Şerbetcioğlu and Utku Aydın were active during the entire process. They communicated rapidly and on-time. When necessary, they were able to explain the articles one by one to the company. They were quite reachable and collaborative from the very beginning of the process.’

Key clients

Adnan Polat Enerji Yatırımı

Türkiye Sınai Kalkınma Bankası

Yapı ve Kredi Bankası

T. Halk Bankası

T. İş Bankası


T. Garanti Bankası

T. Vakıflar Bankası TAO

T.C. Ziraat Bankası


Biotrend Çevre ve Enerji Yatırımları

Kıvanç Tekstil

Bali Rüzgar

Knot Enerji Elektrik Üretim

Galatasaray Spor Kulübü

Bay Temiz Enerji Elektrik Üretim

Karayel Elektrik Üretim

Simay Elektrik Üretim

Yıldırım Holding

Work highlights

  • Advising Adnan Polat Enerji Yatırımı as borrower on a refinancing by a syndication of banks of project financings of four SPVs of Polat Enerji.
  • Advising Biotrend Çevre ve Enerji Yatırımları on project agreements with UOP, including a process licence agreement, and a major equipment supply agreement for its planned waste plastics recycling facility, among other issues.
  • Advising Türkiye Sınai Kalkınma Bankası on a €50m project financing provided to support the capacity increase of Kartal WPP.


Lawyers at Paksoy strike the right note with their ‘excellent industry knowledge’. The team is well-equipped to handle energy and natural resources work, while it also advises on infrastructure-related matters, including airports, roads and healthcare projects. Sera Somay brings to bear extensive expertise in banking and finance, projects, and energy and natural resources – she notably heads all three practices. Counsel Zekican Samlı, who specialises in energy, infrastructure, PPPs and construction, provides support.

Practice head(s):

Sera Somay

Other key lawyers:

Zekican Samlı; Bülent Öztürk


‘Paksoy’s easy-to-contact way of working and close advisory manner helped, and keeps helping, us in various challenges.’

‘Associates Zekican Samlı and Bülent Öztürk, along with partner Sera Somay, have continuously been available to various internal stakeholders of our company. The team provided us with useful insights due to their expertise of the local regulations, while also advising us as to international lawyers.’

‘Capable team including lawyers who are highly knowledgeable about project finance.’

‘We worked directly with Sera Somay and she was always reachable and responsive.’

‘I work with the Paksoy team on many export and project finance transactions, in particular in the area of renewable energies. This team always delivers the highest quality and never misses any deadline. It combines an excellent knowledge of the relevant laws with excellent industry knowledge.’

‘I regularly work with Sera Somay as partner. It is a wonderful, efficient and highly qualified team.’

Key clients

Alcazar Energy

Borusan Machinery and Power Systems

China Export & Credit Insurance Corporation (Sinosure)

European Bank for Reconstruction and Development (EBRD)


ING Bank

Lidya Madencilik

Balcioglu Selçuk Ardiyok Keki

Balcioglu Selçuk Ardiyok Keki‘s projects practice leverages the wider firm’s top-tier banking and finance offering to specialise in representing lenders in project finance matters – though it also acts for borrowers. A trio of lawyers jointly steer the practice: Barlas Balcioğlu, who anchors the real estate, energy, and banking and finance teams; Günhan Yalçın, who specialises in debt finance; and Burcu Boso, who handles project finance, acquisition finance and ship finance, among other areas. Counsel Ceyda Aydın and senior associate Ceren Akkur Bayram provide support.

Practice head(s):

Barlas Balcıoğlu; Günhan Yalçın; Burcu Boso

Other key lawyers:

Ceyda Aydın; Ceren Akkur Bayram.


‘The team is very knowledgeable, hard-working and hands-on. In particular, Burcu Boso and Doğan Eymirlioğlu are very knowledgeable, accessible, hard-working and hands-on.’

Key clients

Marport Liman İşletmeleri Sanayi ve Ticaret

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO)

Sunrise Foods International Inc.

Tiryaki Agro Gıda ve Sanayi Ticaret

Tiryaki Holding


Bank of America Europe

Mizuho Bank

Emirates NBD Capital


Yapı ve Kredi Bankası

Oesterreichische Entwicklungsbank

Aareal Bank


Black Sea Trade and Development Bank

Zürcher Kantonalbank (ZKB)

Göltaş Enerji Elektrik Üretim

HSBC Bank Middle East


Bank of China Turkey

ING Bank

Hedef Araç Kiralama ve Servis

Akfen Holding

Akfen Yenilenebilir Enerji

Test Taşıt Muayene İstasyonları Yapım ve İşletim

Boden Law

An energy powerhouse, Boden Law is noted for its track record in projects within the power, oil and gas, and mining and minerals spheres. The group predominantly acts for energy and construction companies, with significant experience in cross-border projects. The practice is co-led by energy and arbitration specialist Değer Boden; technology and arbitration partner Sinem Mermer; and İnanç Akalın, who focuses on real estate.

Practice head(s):

Değer Boden; Sinem Mermer; İnanç Akalın


‘The team is very capable and experienced in energy EPC projects. ’

‘Partners are always hands-on in projects which differs them from other law firms. They always attend meetings and share fruitful opinions. They insist on the right legal approach and have good negotiating skills with the opposite party.’

Key clients

Aksa Doğalgaz (Aksa Naturelgas)

Talesun Solar Switzerland


Gildemeister Energy Solutions



Aksa Enerji




Aalborg CSP

Hitachi Energy Turkey Elektrik Sanayi Anonim Şirketi (Hitachi Energy)

Work highlights

  • Advised a European energy trader on fuel purchase financing transactions, and security packages on floating fuel to be stored in two different storage facilities in Turkey, worth $225m and $80m respectively.
  • Advised a China-based solar panel manufacturer on its exit from a solar power investment in Turkey, including all transaction agreements, with an investment value of $64m.
  • Advised a Turkish client on its EPC contract and financing regarding a natural gas fired power plant in Uzbekistan.


Drawing on its banking, real estate and corporate teams, DURUKAN+PARTNERS’ projects group demonstrates a recent focus on hotel development. It also contributes experience in energy and infrastructure-related matters. Corporate and finance partner Begüm Durukan Özaydin co-heads the department together with Hikmet Fadillioğlu, whose broad practice encompasses corporate transactions and real estate law.

Practice head(s):

Begüm Durukan Özaydın; Hikmet Fadıllıoğlu

Key clients

China Development Bank

Emaar Libadiye, Emaar Properties

Ansaldo Energia


Work highlights

  • Advised Ansaldo Energia as shareholder in connection with the default under the financing documents of Yeni Elektrik, the operator of the 865MW gas-fired combined cycle power plant in Gebze.
  • Advised Emaar in connection with the project financing and refinancings of the Emaar Square Project in Istanbul.
  • Advised Sovcombank on a $600m financing to Akkuyu Nuclear Power Project and its proposed partial assignment to another bank; the assignment was suspended upon the Russia-Ukraine conflict.

Erdem & Erdem Law Office

Erdem & Erdem Law Office’s projects team enjoys a close relationship with glass producer Türkiye Şişe ve Cam Fabrikaları, but also brings experience in representing credit providers, joint venture partners and contractors on projects-related matters. Firm founder Ercüment Erdem jointly steers the practice alongside corporate and finance partner Ozgur Kocabasoglu. Managing associate Didem Adlığ provides support.

Practice head(s):

Ercüment Erdem; Özgür Kocabaşoğlu

Key clients

Türkiye Şişe ve Cam Fabrikaları

Yılport Holding

Gen Temizer

At Gen Temizer, department co-head Edmund Emre Özer is held up by sources as ‘a key asset for international projects’. A UK-qualified lawyer, Özer brings to bear significant cross-border expertise gained during stints at UK and US firms. Ömer Erdoğan co-heads the practice and is noted for his broad projects and finance experience, which spans matters in the energy, mining and infrastructure sectors.

Practice head(s):

Edmund Emre Özer; Ömer Erdoğan

Other key lawyers:

Baran Gen


‘Gen Temizer Özer has an excellent cross-border practice with strong capability to oversee complex project finance projects and other projects for our group.’

‘Edmund Emre Özer has acted as our trusted counsel over many years. He is an excellent counsel with a UK background. He has top-tier drafting and negotiation skills which is a key asset for international projects.’

‘Our key contact, managing partner Edmund Emre Özer, is well versed in both English and Turkish law. Together with his knowledge regarding the industry sector, he and his firm is our go-to firm regarding complex situations.’

‘Edmund Emre Özer is an exceptional individual. We also had the pleasure of working with Ömer Erdoğan, his insight regarding our trade financing project was very valuable. He was able to use his experience extremely well for helping us structure our hybrid-financing project.’

‘Ömer Erdogan has extensive knowledge regarding project finance, to which he can transfer to trade finance projects.’

‘The team has a good knowledge of this area. Lawyers are capable of making comments and finding alternative solutions to blocked issues.’

‘Baran Gen stands out for his ability to quickly respond to the legal queries of our company. He presents complex legal issues in an easy and understandable manner.’

Key clients


Egis Tunnel Management

Erciyas Celik Boru Sanayi

Herbert Smith Freehills

Partners for Growth

RMA Automotive and RMA Group

SK Innovations

Veolia Environement

Work highlights

  • Represented Commerzbank in two financings for wind turbines, provided to Esyel Global Energy and Atakaleres Electrics respectively.
  • Advised SK Innovations on its investment in a greenfield joint venture with Ford Europe and Koc Holding for the development and operation of a significant electric car battery plant in Turkey.
  • Acted as Turkish law counsel to Egis regarding the operation and maintenance of the Eurasia Bosphorus Tunnel Crossing Project, as well as advising on the impact of amendments made to the O&M agreement over the existing financing conditions of the project.

Goksu Safi Isik Attorney Partnership

Goksu Safi Isik Attorney Partnership is primarily active in representing sponsors and project companies on projects-related work, including bond offerings and finance transactions. Fatma Gozde Kardes is well versed across a range of project development, project financing, banking and capital markets matters. Kardes co-heads the group together with commercial, corporate and structured finance partner Ali Sefa Turkmen, who has a focus on energy and emerging markets.

Practice head(s):

Fatma Gozde Kardes; Ali Sefa Türkmen


‘The firm is amazing and covers all types of business. Lawyers are all amazing.’

Key clients



SASA Polyster


Erdemoğlu Holding



Pak Yatırım

Astay Gayrımenkul

MNG Airlines

Work highlights

  • Advised SASA Polyster Sanayi on its petrochemical investment and plant in Yumurtalık.
  • Advised Radiks on gold trading and investment services.

Kolcuoglu Demirkan Koçakli

Construction-related matters feature among Kolcuoglu Demirkan Koçakli’s recent work, with the team also offering experience in advising energy and infrastructure companies on public procurement, project finance and administrative law issues. Okan Demirkan co-heads the energy and infrastructure group, as well as leading the dispute resolution team, and has a significant regulatory dimension to his practice. The department also draws on energy and infrastructure co-head Melis Öget Koç, real estate partner Serhan Koçaklı and managing partner Umut Kolcuoğlu.

Practice head(s):

Umut Kolcuoğlu; Okan Demirkan

Other key lawyers:

Melis Öget Koç; Serhan Koçaklı

Key clients


TDC Parsons Peebles

TPI Composites

Boston Consulting Group

Bozzetto Group

Alsim Alarko


Samsung C&T

Ema Kimya

Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG)

DM İnşaat

IHI Corporation

Mitsubishi Heavy Industries

Yu Group


Work highlights

  • Advised QTerminals on the extension of Port Akdeniz’s privatisation agreement’s term for an additional 19 years.
  • Advised TPI Composites on its renewable energy investments, composed of two wind energy facilities with an investment value of approximately €15m.
  • Advised Boston Consulting Group on the drafting of a FIDIC Green Book short form of contract for the construction works in its headquarters, with an investment value of $1.2m.

Lexist Law Firm

Regulatory stalwart Lexist Law Firm specialises in advising on projects involving highly regulated industries, including energy, transport and healthcare. The group is also active in privatisation transactions, where it is currently advising the Turkish Privatisation Administration on the privatisation of three port assets. Murat Erbilen spearheads a group that includes co-founding partner Eyüp Kul, as well as Mesut Kaya, who focuses on energy, PPPs and privatisation work.

Practice head(s):

Murat Erbilen

Other key lawyers:

Eyüp Kul; Mesut Kaya; Duygu Öztürk Dinçer


‘The Lexist team is very professional and handles all our legal work. I like its flexibility and wide range of experience and knowledge. We are working with the team on many high-profile projects in Turkey and in Europe.’

‘Eyüp Kul is our main lawyer. He is always available for us and he is a natural negotiator. Partner Murat Erbilen is very good too and extremely patient.’

‘One of the best teams we have worked with: it sees the bigger picture, understands the commercial pressures, and is mindful of our budget. We work with it on a complex project involving multiple parties entering/exiting the deals, sector-specific regulatory hurdles and extensive project restructuring.’

‘The team manages all negotiations quickly and efficiently. We trust Lexist with all our projects, corporate and disputes work in highly regulated sectors such as construction and healthcare. Lexist is different because with this team the work and client relationship always comes first.’

‘Lexist always delivers. They avoid disputes. We can rely on them for any kind of work.’

‘Partner Mesut Kaya is commercially aware of the bigger picture.’

‘The Lexist team is unique for us because it has young lawyers who have worked in companies as lawyers. This means that it is better at understanding our side of the problem and can explain legal matters to our board members in a way that they can understand.’

‘Murat Erbilen and Mesut Kaya are the partners leading our projects. They are both accomplished projects lawyers and are very patient.’

Key clients

Directorate of privatisation Administration

TVF İFM Gayrimenkul İnşaat ve Yönetim A.Ş. (a subsidiary of the Turkish Wealth Fund)

Work highlights

  • Advising TVF İFM Gayrimenkul İnşaat ve Yönetim Anonim Şirketi on the development of the Istanbul Financial Centre, a project to create a financial hub for the region.
  • Advising the Turkish Privatisation Administration on the privatisation of three port assets.

Tunc Firat Dereli Attorney Partnership

Over the past year, Tunc Firat Dereli Attorney Partnership advised a range of mining and energy companies, contractors and lenders on project financing transactions. Alongside its activity in traditional energy and infrastructure financings, the group also stands out for its experience in Islamic financing structures. Zeynel Tunç focuses on energy, infrastructure, mining and construction-related work and co-heads the department alongside energy and finance partner Nazlı Dereli Oba. Bengü Coşkun is also noted.

Practice head(s):

Zeynel Tunç; Nazlı Dereli Oba

Other key lawyers:

Bengü Coşkun

Key clients

Karadeniz Holding

Akfen Holding

Akfen Renewables

Acacia Mining

T.C. Vakıflar Bank

Alba Mühendislik Müşavirlik İnşaat

Albioma Geothermal

Gümüşköy Geothermal

Albioma S.A.

TWL Holding

Çalık Energy

Tekfen Construction

Power Europe

Work highlights

  • Advising BAK Enerji Üretimi on its additional $30.4m project financing, provided by Garanti Bank, to support its wind power capacity extension and conversion into a hybrid (solar-wind) power plant.
  • Advising Acacia Mining Operations on the restructuring of a $120m senior facility provided by a syndication of banks.
  • Advising the Polish subsidiary of Gülermak Heavy Industries on Turkish law matters in relation to a loan extended by a syndicate of banks (including Bank Polska Kasa Opieki, EIB and EBRD) for the construction of the Krakow Tramway Line Phase IV in Poland.

Yazici Attorney Partnership

Yazici Attorney Partnership had a hand in several major projects during 2022/23, including advising on complex nuclear and mining matters. Equally equipped to represent lenders and borrowers, the group is additionally distinguished by its international expertise. The department is led jointly by Ankara-based energy and natural resources specialist Kerem Arıç, who is dual-qualified in Turkey and Switzerland, and Istanbul-based Ayşe Yazıcı Adanır, who is dual-qualified in Turkey and New York. Ankara-based construction partner Ceren Ak Güngör is also recommended.

Practice head(s):

Kerem Arıç; Ayşe Yazıcı Adanır

Other key lawyers:

Ceren Ak Güngör; Murat Yazıcı


‘Services provided by Yazıcı Attorney Partnership were good and fit for the purpose. Its way of structuring legal opinions is reader-friendly.’

‘Partner Kerem Arıç understands the needs of our company and does his best to reach the most favourable outcome with a result-oriented approach.’

Key clients

Aldridge Mineral Madencilik Anonim Şirketi

Akkuyu Nükleer Anonim Şirketi

BNP Paribas SA and ING European Financial Services

Ermas Marble- Coante Quartz Surfaces

Work highlights

  • Advising Akkuyu Nükleer Anonim Şirketi on financing and corporate governance matters, especially in the context of loan agreements, currency control and capital movement legislation.
  • Advising SOCAR-AQS Sondaj Mühendislik Sanayi ve Ticaret on a subcontract for a major industrial construction project.