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Okay, E., Okay, N. and Akman, U. (2012) Turkey Chapter. In: LangloIs, P. and Hansen, S.J., Eds., World ESCO Outlook, The FaIrmont Press, LIlburn, 396-403.

has been cited by the following article:

• TITLE: The Risks of Financing Energy in Turkey: Heading for a Rocky Road

  AUTHORS: Esin Okay

  KEYWORDS: Energy Projects; Energy Saving Industry; Energy Financing; Credit Risk; Country Risk; Turkey

  JOURNAL NAME: Open Journal of Energy Efficiency, Vol.3 No.1, March 10, 2014

  ABSTRACT: After the implementation of Energy Efficiency Law (EEL) in Turkey, Turkish engineering firms show considerable interest in energy savings projects. There is a growing sign of an energy effi- ciency implementation in Turkey. However, energy importation costs of Turkey still present a challenge leading to huge financial burdens. This paper explores the energy financing in Turkey and the likelihood of risks after the establishment of structural reforms. The so-called structural problems on the agenda of Turkey are emphasized during the crisis. Actually, global crisis affected the lending conditions herein counterparty risk and restricted the relations of enterprises and banks. In this study, it is argued that there are strong barriers for the future energy saving industry in Turkey made up of macro-economic, micro-economic and financial risks coming through both domestic and global means.