Turkey Updates Electricity License Application Rules

Turkey has amended the application processes for pre-licenses and licenses within the electricity licensing regime. Accordingly, joint-stock companies which apply for such licenses can no longer issue bearer shares (except stock exchange bearer shares). The restriction must now be included in the related company's articles of association. Further, from the end of 2018 preliminary project approval will no longer be valid grounds for beginning construction of an electricity generation facility. Rather, a project approval or definite project approval will be required to begin construction.

The Regulation Regarding the Amendments in the Electricity Market License Regulation ("Amendment Regulation") was published in Official Gazette number 30473 on 9 July 2018, entering into effect on the same date.