Ketenci&Ketenci's renowned Energy team is at the forefront of this sector, providing clients with advice on issues relating to oil & gas, renewable energy issues as well as Turkish energy law related regulatory matters.
With a rapidly growing economy, Turkey has become one of the fastest growing energy markets in the world. Turkey has been experiencing rapid demand growth in all segments of the energy sector for decades. Over the last decade, Turkey has been the second country, after China, in terms of natural gas and electricity demand increase. Turkey is expected to become one of the most dynamic energy economies of the world in terms of increase in energy demand.
As regards the energy sector, Turkey aims to increase its installed power capacity to 125,000 MW by 2023 up from 57,059 MW in 2012. The aforementioned targets in the energy sector require significant infrastructure investments in Turkey and offer ample opportunities for investors.
New plans and targets also continue for urban renewal projects. Since the enactment of the Urban Transformation Law No. 6306, the Turkish government has decided to retrofit and renovate buildings that are prone to destruction during natural disasters, which includes 6.5 million residences, with a budget of USD 400 billion.
Having a substantial potential for the renewable energy resources, Turkey ranks seventh in the world and first in Europe in terms of geothermal energy. Turkey also aims at further increasing its use of hydro, wind and solar energy resources. Turkey envisages producing 30% of its electricity need from the renewables by 2023.
Turkey has also recently liberalized its energy market. In line with its aspiration to become an EU member, Turkey is in the process of harmonizing its energy legislation with that of the EU acquis.
Ketenci&Ketenci provides pioneering advice on the entire lifecycle of these assets, from the consenting and planning process, through to the construction, financing, operation, maintenance and ultimately their refinancing or sale. We advise sellers and acquirers (on M&A transactions), project sponsors, corporates, financial/passive investors, suppliers, manufacturers, governments and debt funders (including banks, bond arrangers, ECAs, DFIs and multilaterals) on energy transactions globally. These transactions are supported by our specialists in areas such as environmental, regulatory, antitrust, tax, employment and planning law.
The energy market is global, with many deals crossing borders.
Ketenci&Ketenci is one of the few Turkish law firms that can leverage a truly global network and deliver an absolutely seamless service across Turkey, Europe, CIS, the Middle East, Afric and the United States. Our global reach and experience is highly valued by our clients.
We also regularly advise global funds, Private Equities, hedge funds and family offices with respect to their investments on Energy projects in Turkey and Europe. We also act as a dealsourcer and assist our clients to introduce their existing projects to instituional investors on a global scale.