Summaries Eclitorial -------------------------------------------------------2 Will The Global Financial Crisis 3ffecr lnvesanencs in Energy Sector? The global financial crisis, which has emerged in the Unired Stares, already spread itself to Europe like a hurricane and becaıne an urgenc issue. Although the European Governınents were ar first slow to take the necessary ıneasures in preventing the crisis, forrunately ehey have coınprehended dıe depth of the crisis and started impleınenting the necessary ıııeasmes. Now we are in the recovery period, hence ehe 2.5 trillion S governmencal aid to financial instinıtions. There is no way that Turkey will survive the hurricane widıout any daınage, since the larger share of the investınent credits and capitals are foreign. We are going to analyze dıe affects of dıe global crisis on the energy invesmıents in Turkey. After dıe increase in ehe natura! gas prices in 2004, I have insisted that the electricity prices should be sticked to that of the natura! gas, since I had foreseen the negative iınpacts of this impleınenration. J-lowever our esteemed lı1inister of Energy would argue that by not raising ehe prices the country would be berter off. 1n ebat period ali Tw·key needed was a reliable and thrust giving eavironment attracting foreign investmenc. Thaıık God, starting froın august 1 sr, 2006, the new Scabilization and Fiscal Reconciliation Regulation were put inro operation. Operacors could offer arrractive prices to the Market and they started to make money. Thus, 20.000 MW new appLications were regisrered by EMRA to obtain licenses. The ones who were quick to act were able to ger credits and started their constructions; however the iare coıners had to face the hurricane. I t seems that dıe global crisis affects ehe furure plans of the investors raeher dıan the projects under conscruction, since dıe developing projecrs have already taken advanrages of low interested credits. Nowadays dıere is a decrease in deınand in eleca·iciey, compared eo dıat of the summer season, hence the air conditioning Therefore ehe electıicity prices are sLighdy lower now. According to our investigations, dıe average eleccricity pı:ice is stili atttactive for the Investors. As presenred in the original articie, it is possible to make profits with dıese prices, with at least a 55 % efficient natura! gas firing plant. Cogeneration plants will keep their superiority in competiı:ion, dıanks to dıeir higher efficiency. Widı regard co the financial crjsis, the global actors would stil] emphasize dıe importance of exporting dıeir technology to ehe emerging councries. Although the linancing insı:irutions can finance 65 percent of the projeces, Lıvestors will look for financial support for ehe rest. I n riciı countries ehe govemmenc aid to the financial seccor and banks in order ro prevent a major crisis in the secror would help ehe invesror. Therefore the milieu will stil] be aruactive for power investments. In ehis period, the share of the gas engine sector in Turkey will increase. Gas engines, even in simple eyde, continue to have coınpetitive advanrage in rerıns of their production costs due to tlıeir higher efficiencies. Moreover in Germany and Spain, we can also see an increase in ehe sales of gas engines, parallel to tlıe increase in the nwııber of wind power plancs. Gas engines compensare ehe shorted electricity production, at times of inadequare wind. As the numbcr of wind power planrs increase in Turkey, we expect a raise in gas engine sales. The financial crisis is not dıe end of the world; maybe it will open the window fora berter sysrem and for ehe new opporrunity. Wi dı ki nd regards. Actual Czech Energy Giant became the partner of Akenerji------------- 22 The owners of tlıe shares of Akenerji, which are not listed ar the srock exclıange, signed a scraregic parrnership agreemem ebat foresees an 64 ENERJi DÜNYASI EKiM 2008 equal partnership in ehe Turkish cnergy secror, widı CEZ, ehe mosr profirable and 7th largesr fully imegrared cnergy company of Europe. The agreeınent will be finalized with the share transfer procedure which will take place after tlıe official applications are made and relared official correspondences are sene to related authorities byborh companies in eheir respective countries. The highest bid for Meram camc from Alsim Alarko ------------- 26 The highesr bid for ehe tender related to dıe privatization of Meram Elektrik Dağıam Anonim Şirketi tlıar covers Kırşehir, evşehir, ı iğde, Aksaray, Konya and Karaman, was given by Alsim ı\larko Sanayi Tesisleri ve Ticaret AŞ. while dıe highest bid for Aras Elektrik Dağıam Anonim Şirketi thar covers Erı:urum, Ağrı, Ardahan, Bayburt, Erzincan, Iğdır and Kars was given by Kiler Alışveriş Hizmetleri. After tlıe tender resulrs are presented ro dıe Coınpetition Board and EPDK (Energy Markets Regulatory Board), ehe transfer procedure will commence. Widı dıe tendcrs of Meram and Aras, a total of 568 ınillion dollars of sale was realized in one day. Only one proposal for the Nuclear Power Planı----------- 28 The only proposal was given by Atomstroyexport-Jnter Rao-Park Teknik (Ciner Holding) parmership, at tlıe tender organized for ehe consı:rucı.ion and operation of dıe lirse Nuclear Power Plant of Turkey planned to be founded ar Mersin-Akkuyu. A total of six companies sem eııvelopes ro dıe tender and five of ehem wcre ehanks letters. The lasr proposals were taken on 24 September 2008 by Türkiye Elektrik Ticaret Anonim Şirketi(fETAŞ). The tender comrnission evaluared the firsr envelope given by the group and confirıned dıar dıe appLication lerrer, the letter of guaranree and other necessary documents submitted by dıe parmership was complere. File The Goal of Vestas Turkey is to grow along with ehe market --- 36 We talked with Vestas Turkey General Manager lı[urat Onuk, about Vesras and the energy sector. Onuk said "Our country has dıe largcst potential in rerıns of wind energy in tlıe region. Looking at tlıe past tlıree years, we can say rhat, with irs graduaUy increasing wind turbine power capacity, Turkey has dıe fastest growth rare in rhis area." Turkcy might turn into the energy giant of the world -- -------- -- 42 Altpecer Joachim, one of ehe founders of Green Energy- a TurkishGerman joim vennıre, answered our questions. ı\ltpeterJoachiın indicared thar, in case Turkey becomes aware of its renewable energy sources, it can rurıı into dıe energy giant of dıe world and continued as follows "As Green Energy, we wam to help Turkey discover dıis power. It is our rnission to help Turkey discover ehis power and usc it effectively". Loca! firms should be given incentives for Energy Technology Design and Production----------------------------------------- 46 We talked widı Ahmet Fayez, tlıe Chairnıan of Enpro, abour Enpro and dıe energy secror. Payez said "Enpro is one of ehe rare and special compaııies char have been a pare of mımerous successful projects in the energy secror, and rhar the company continues its sustainable growtlı and success." The first Wind Tribune Manufacturing Facility to Be Established in Adapazarı ---------------------------------------------------- 50 A family company, Nett Enerji Elektrik Ü recim AŞ started a projecr to establish the first wind tribune manufacruring facility of Turkey in Adapazarı. İlkem Şahin, tlıe Board Member of ı ett Enerji, who gave a briefing to Enerji Dünyası about the issue, saicl, "Our prioriry, as Wind'fürk, is to produce wind tribwıes witlı capacities of 225 k\X.: 500 kW and 600 kW and ehen to manufacrure wind cribunes wieh larger capacities and to install them in dıe projecrs of loca! ancl foreign investors."
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