The energy sector in Turkey is one of the most prolific industries in the economy. This is because the country’s geographical position allows companies operating in this industry to invest in renewable energy and steer away from the traditional gas and fuel-based sources. In order to encourage players on the market, the government has enabled the new Electricity Market Law with the purpose of liberalizing the market and welcoming private companies seeking to start business in the renewable energy industry.
Our law firm in Turkey can offer information on the energy industry in the country.
The current laws providing for the energy industry in Turkey are:
Based on the laws above, Turkish companies can establish the services they want to provide.
The first step to open a company in the energy industry in Turkey must register a business entity with the Trade Register. Only private limited liability and joint stock companies are allowed to operate in the energy sector in Turkey. Special attention must be paid to the share capital requirements when setting up a company in the energy industry. A lawyer in Turkey can offer information on the capital required to open a company in this economic sector.
Once the company is registered, it must apply for one of the licenses covered by the Energy Market Law which are issued by the Energy Market Regulatory Authority in Turkey. These licenses are:
The energy supply license allows Turkish companies in the energy industry to carry out wholesale and retail energy services. These companies are also subject to a yearly license fee established by the authority.
For full information on the special licenses required to establish a company in the energy sector, please contact our Turkish lawyers.