13 May 2010 / YANNICK BRUSSELMANS , İSTANBUL
More Turkish energy companies should turn to the stock market to finance their activities, Energy Market Regulatory Agency (EPDK) President Hasan Köktaş said at the 16th International Energy and Environment Fair and Conference (ICCI 2010), which opened in İstanbul on Wednesday.
Köktaş emphasized the importance of the energy sector in attracting foreign direct investment (FDI) to Turkey, stating that a total of $5 billion worth of investments flowed to the sector in 2009. He pointed out that the Turkish energy industry is growing and coming out of the economic crisis at a much faster pace than all other sectors. In order to finance this steady growth, Köktaş said, Turkish energy companies should have better and easier access to the stock market, as the industry is currently underrepresented in the İstanbul Stock Exchange (İMKB). Özkan Ağış, president of the Turkish Cogeneration and Clean Energy Technologies Association, reiterated the importance of passing an updated bill regulating electricity production from renewable energy sources, which he deems crucial for the financing of wind and solar energy projects. Last June, a bill on the subject was withdrawn before Parliament was able to vote on it, a move which Ağış said “shocked and scared away both domestic and foreign investors.” The ICCI 2010, which combines an exhibition and conference, presents a general outlook on the energy sector worldwide and in Turkey, focusing on such issues as the liberalization and restructuring of the energy sector, renewable energy and climate change. Altogether, 7,000 sector representatives are expected to participate in the fair, which will run until May 14.
