The Electricity Market Licensing Regulation was amended with the
Regulation on Amending the Electricity Market Licensing Regulation
published in the Official Gazette dated 24 February 2017
("Amendment Regulation"). Among others, the Amendment
Regulation introduces changes with regards to renewable energy
resource areas "RERA", details for which are provided in
the Regulation on Renewable Energy Resource Areas ("RERA
Regulation"). As per the RERA Regulation, RERA will be
developed by the Renewable Energy General Directorate or through a
competition process. Such competition will concern connection
capacity allocation. Applicants will provide bids for the
connection area and connection capacity announced by the energy and
Natural Resources Ministry.
For example, the Amendment Regulation (i) indicates that the
duration of pre-licenses and generation licenses granted for RERA
may not exceed 36 months and 30 years respectively; (ii) separates
pre-license applications made by RERA from those made by other
entities aiming to generate electricity; (iii) provides the
procedures to be followed for RERA applications concerning
pre-licenses; and (iv) details the mechanism for changes with
regards to pre-licenses granted to RERA and their
The Amendment Regulation also broadens the exceptions for share
transfers of pre-license holding entities. Accordingly, the share
transfer restriction in the Electricity Market Licensing Regulation
will not apply in the following cases:
Direct and indirect shareholding changes among existing
shareholders provided that there is no change of control in the
shareholding structure of the relevant pre-license holder
In pre-license holding entities, where majority of the
shareholding is directly or indirectly owned by public authorities,
direct/indirect shareholding changes due to a share capital
increase or a change in shareholders, provided that there is no new
shareholder aside from public authorities/corporations
Direct and indirect shareholding changes arising from the
pre-license holder's and its direct/indirect shareholders'
buy back of their own shares within the scope of the Turkish
Direct and indirect shareholding acquisitions within the
pre-license holding entity, which arise from foreign sources (by
foreign legal entities or legal entities incorporated under the
Turkish Commercial Code and controlled by such foreign legal
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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In general terms, a "corporate" power purchase agreement refers to a contractual arrangement whereby independent generators (typically renewable) and corporates that are large energy consumers, contract for the sale of power to that consumer.
This short note is to introduce two detailed papers that discuss the justification for the development of an Asian LNG reference price that is not benchmarked against the current ‘Japanese Crude Cocktail' and suggests an approach to how that might be achieved. A short summary of the two papers is provided below.
Hydrocarbon resources are typically owned by the state.
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