• YEO

• Energy news from Türkiye

YEO: "A contract worth USD 4,103,000 has been signed between our Company and Zey Yenilenebilir Elektrik Üretim ve Depolama A.Ş. for the sale of battery energy storage systems.

Under the scope of the contract, battery energy storage units with a 1C charge, discharge rate will be manufactured at our factory in Tuzla, Istanbul, owned by our wholly owned subsidiary, Reap Battery Technologies Inc., with a delivery period of 6 months."

YEO, bilgi paylaşımı yaptı...

- "Şirketimiz ile Zey Yenilenebilir Elektrik Üretim Ve Depolama A.Ş. arasında, bataryalı enerji depolama sistemlerinin satışına yönelik 4.103.000 ABD Doları tutarında sözleşme imzalanmıştır."

- "Söz konusu sözleşme kapsamında 1C şarj deşarj oranına sahip batarya enerji depolama üniteleri, şirketimizin 100% bağlı ortaklığı Reap Batarya Teknolojileri A.Ş.'ye ait İstanbul Tuzla'daki fabrikamızda üretilecek olup teslim süresi 6 aydır."

energy news from Türkiye - enerji ekonomisi 

SHURA ''SHURA AGENDA’s Issue 14 on “Geopolitical Tensions and Energy Security” highlights how rising geopolitical risks are reshaping energy security dynamics for Türkiye and underlines the need to accelerate the clean energy transition to enhance resilience, reduce import dependency, and support long-term economic stability.''

Link

• “Geopolitical Tensions and Energy Security”

energy news from türkiye - enerji ekonomisi

• PHOTOVOLTAIC POWER SYSTEMS PROGRAMME Country Updates 2025

TÜRKİYE PHOTOVOLTAIC SECTOR STATUS 2025

''PV POLICY PROGRAMME Türkiye’s 2025 PV policy framework has been shaped in alignment with the long-term energy transition targets set out in the National Energy Plan. The target of reaching a total installed capacity of 120 GW based on solar and wind energy by 2035 has continued to serve as the primary reference point for policy design. The policy approach has centered on maintaining the rate of capacity growth, ensuring the safe grid integration of increasing renewable generation, expanding generation models integrated with storage, and deepening the domestic manufacturing value chain. This approach points to a policy architecture that simultaneously pursues not only capacity growth but also system flexibility and industrial policy objectives.''

• Link
• TÜRKİYE PHOTOVOLTAIC SECTOR STATUS 2025

enerji ekonomisi

• How are gasoline and diesel prices determined in Türkiye?   'Energy news From Türkiye'

• Murat Lecompte
• Energy Analyst

Türkiye Fuels Pricing 
The motor fuel pricing method in Türkiye has been established by the Petroleum Market Law since 2005. Under this law and related regulations, prices are determined based on the formation of the nearest global free market price. 

The closest free-market pricing system is the Mediterranean fuels market in Genoa, Italy. Refineries use the prices determined in this market as benchmarks. Each day, the CIF MED price published by Platts is used as the basis for fuel pricing. CIF MED refers to the delivery price that includes Cost, Insurance, and Freight.

There is an important distinction here. Generally, many people assume that “gasoline or diesel prices will increase by 10% if the Brent crude price increases by 10%. " However, the basis is not the Brent crude price but rather the international market price of gasoline and diesel. Refineries in Türkiye do not set their prices based on the cost of crude oil. 

Therefore, it is not possible to predict the refinery price based solely on the Brent crude price. There is a connection, but it’s not a perfect one-to-one correlation. 

Refiners in Türkiye use Platts’ data to set prices. They consider the CIF MED (Genoa) USD/ton price and convert it into Turkish Lira (TL/ton) using the Central Bank exchange rate.
The TL/ton price is then converted into liters to establish the pump pricing.

Special Consumption Tax (SCT) and the EMRA (Energy Market Regulatory Authority) fee share are added to this. Again, there is a key difference here. SCT in motor fuels is not a ratio; it is a fixed amount. For example, SCT is not “35% of the pump price." It is a standard figure. Currently, it is 14.82 TL per liter of gasoline and 13.90 TL per liter of diesel. 

After the SCT, VAT (value-added tax) is added, which results in the refinery exit price. This is the price of 1 liter of product at the refinery gate. The fuel's final price includes the refinery exit price, along with the distribution company's margin and the dealer margin.

At the same time, additional delivery and storage costs are incurred, especially if the delivery point is far from the refinery. That’s why fuel prices are higher in some provinces of Türkiye compared to others.

To summarize: The price formula for motor fuels includes the refinery price, SCT, EMRA fee, distribution margin, dealer margin, delivery costs/storage, and VAT. The refinery price reflects an international market-based price.

These days, we hear a lot about the “sliding scale” system. This system involves the state lowering its share of tax revenue to protect consumers during rapid price jumps. When the sliding scale is used, the state forgoes part of its SCT tax, collecting less SCT, which leads to a more tolerable price increase at the pump. 

So, how does the rise in Brent crude prices affect pump prices? It’s not a one-to-one relationship. While petroleum products are priced based on changes in crude prices, each product’s price is usually set separately through a supply-and-demand market process. The key factor is the final product price established in the market, not the increase in Brent crude itself. 

energy news from Türkiye - enerji ekonomisi

• Energy news from Türkiye
• ENKA İnşaat

''The consortium formed by Entrade GmbH, a wholly owned subsidiary of ENKA, together with Técnicas Reunidas, FCC Industrial e Infraestructuras Energéticas and FCC Industrial Deutschland GmbH, has been continuing its activities within the scope of the Liquefied Natural Gas (LNG) Regasification Terminal Project located at the Stade Industrial Park in Lower Saxony, Germany, following the issuance of the Notice to Proceed (NTP) in March 2024.

Entrade GmbH will execute the project’s full electro-mechanical scope, including installation, piping prefabrication, and commissioning support. Pipe spools will be prefabricated at ENKA subsidiary Çimtaş facilities starting in June 2026.

By the end of 2025, project engineering is approximately 90% complete, procurement has reached around 93% completion, and manufacturing activities for major equipment are progressing, with overall progress at about 35%. Main construction works are underway, with LNG tank foundation works advancing.

This project represents a significant milestone in ENKA’s ongoing contribution to strengthening Europe’s energy infrastructure and security.''

energy news from türkiye - enerji ekonomisi

• TPAO ''The first issuance under the USD 4 billion sukuk programme, announced in November 2025 by H.E. Alparslan Bayraktar, Minister of Energy and Natural Resources of the Republic of Türkiye, and planned to be implemented by Türkiye Petrolleri Anonim Ortaklığı (TPAO), has been launched with a USD 1 billion issuance announced to international markets on 23 February 2026.

• TPAO Successfully Issues USD 1 Billion 5-Year Sukuk in International Markets
• Turkish Petroleum Corporation (TPAO)

TPAO ''The first issuance under the USD 4 billion sukuk programme, announced in November 2025 by H.E. Alparslan Bayraktar, Minister of Energy and Natural Resources of the Republic of Türkiye, and planned to be implemented by Türkiye Petrolleri Anonim Ortaklığı (TPAO), has been launched with a USD 1 billion issuance announced to international markets on 23 February 2026.

During the two-day roadshow process, investors from 55 countries across Europe, the Gulf, Asia and the United States were reached, and comprehensive presentations were delivered to investor institutions regarding TPAO's financial outlook, the Sakarya Gas Field and Gabar projects, as well as the structure of the sukuk issuance. Following the strong investor interest generated during the roadshow, the transaction was priced at 6.30%. Demand reached 7.3 times the initial issuance size of USD 750 million, and due to the substantial interest from investor institutions, the issuance size was increased to USD 1 billion, marking a significant achievement.

The sukuk issuance was carried out with Kuveyt Türk Yatırım acting as financial advisor, and KFH Capital, Emirates NBD Capital and Standard Chartered Bank serving as Global Coordinators. Abu Dhabi Commercial Bank, Bank ABC, Dubai Islamic Bank, First Abu Dhabi Bank, Mashreq, Sharjah Islamic Bank and Warba Bank participated in the transaction as Joint Lead Managers (JLM).

With a total size of USD 1 billion, this issuance has been recorded as the largest corporate sukuk transaction ever executed in Türkiye. In addition, TPAO has achieved a historic milestone by becoming the first public enterprise in Türkiye to complete such a transaction. The sukuk issuance represents a strategic success both in terms of reaching an order book size of USD 5.5 billion and ensuring demand depth by attracting 165 international investor institutions. The successful completion of this first sukuk issuance process is of critical importance in strengthening TPAO's position in international capital markets and serving as a benchmark for future financing transactions. The strong pricing outcome and high level of investor interest clearly demonstrate confidence in TPAO's financial outlook, institutional capacity, and Türkiye's strategic energy projects.

As TPAO, we will continue to add value to our country and advance our investments in line with the goal of energy independence for Türkiye, supported by the alternative financing structure strengthened through our international sukuk issuance.''

energy news from türkiye - enerji ekonomisi

• Energy news from Türkiye
• YEO Technology

- A strategic project funded by the World Bank, which will enable the central, digital, and secure management of Uzbekistan's national electricity grid, has been launched. As part of this project, We signed a contract with  the National Electric Grid of Uzbekistan (NEGU) with amount of 36.9 million US dollars.

- This project will enable approximately 200 transformer stations and power plants across Uzbekistan to be monitored and managed in real time through a centralized structure supported by high cybersecurity standards. Thus, the country's electricity generation and transmission infrastructure will be transformed from a decentralized and manual structure into a centralized, digital, and cyber-secure system.

- Thanks to the infrastructure to be established, energy supply in Uzbekistan, with a population of approximately 40 million, will become safer, more efficient, more predictable, and more resilient to cyber risks. The project represents a critical and strategic milestone in the digital transformation of the country's energy system.

- This project reinforces our company's strategy of positioning itself as an "Energy Infrastructure Platform" through its EPC, energy investment, and battery production activities, combined with digital technologies, cybersecurity, and advanced engineering capabilities. It also makes a significant contribution to our long-term international business portfolio, brand value, and sustainable growth vision.

enerji ekonomisi

 As Türkiye’s leading electricity distribution and retail company, Enerjisa Enerji delivered results fully in line with the financial targets for 2025, with particularly strong performance standing out in the distribution business.

 During the year, the company invested TL 23.5 billion and increased its operational earnings to TL 58.3 billion. Enerjisa Enerji completed the 4^th Implementation Period with solid operational delivery and continued financial discipline.

In 2025, Enerjisa Enerji sustained its strong performance driven by its resilient business model and investment discipline, and has now shared its year-end financial results. The Company’s Operational Earnings increased by 8% above inflation year-on-year to TL 58.3 billion, forming the foundation of its financial resilience and sustainable growth strategy.

• Modernization Investments Strengthening Security of Supply Across 14 Provinces
• In 2025, Enerjisa Enerji made total investments of TL 23.5 billion, prioritizing grid modernization, capacity expansion and infrastructure strengthening across the 14 provinces it serves through AYEDAŞ, Başkent EDAŞ and Toroslar EDAŞ. Through the expansion and reinforcement of the existing infrastructure, supported by smart grid applications, digitalization investments and projects enhancing security of supply, the Company contributed to building a more efficient, more resilient and more sustainable energy system. These investments accelerated Türkiye’s energy transition while also providing significant support to strengthening long-term security of supply.

Increased Installed Solar Power Capacity by 38% 

In addition to its electricity distribution business, Enerjisa Enerji continued its operations in the Retail and Customer Solutions segments, delivering a performance broadly in line with the financial expectations shared with investors at the beginning of 2025. In the Retail business, a stable performance was recorded compared to the previous year, reflecting the impact of regulatory changes to the Last Resort Supply Tariff limits introduced by EMRA (EPDK) as well as evolving market conditions. The Company continued to focus on creating sustainable value within the liberalized market by rapidly adapting to these new dynamics.

In the Customer Solutions business, installed capacity in solar power projects increased by 38% year-on-year, reaching 141.6 MWp as of year-end. Eşarj, while continuing its e-mobility operations under the Enerjisa umbrella, supported its growth with a transformation and development vision centered on customer expectations. As a result of service quality–focused investments aimed at making the charging experience easier, faster and more reliable, Eşarj achieved a significant performance improvement, increasing the power sold to 43.7 GWh.

• PINAR:
• “we are takıng an actıve and responsıble role ın the transformatıon of Türkiye’s energy ınfrastructure.”

Emphasizing that the energy sector is not only an economic but also a strategic domain, Enerjisa Enerji CEO Murat Pınar said, “Energy systems are transforming globally, security of supply and infrastructure resilience are becoming more critical than ever. As Enerjisa Enerji, we are taking an active and responsible role in the transformation of Türkiye’s energy infrastructure. Our TL 23.5 billion investment realized in 2025 is a clear demonstration of our long-term commitment to strengthening our energy infrastructure and building a more efficient and more resilient system. The investments we made in distribution infrastructure supported the continuity of energy supply and contributed to the transformation process. In line with our strong financial performance and sustainable dividend policy, we plan to submit to the General Assembly the proposal of a dividend of TL 5.08 per share, corresponding to 63% of Underlying Net Income. This payout ratio supports a balanced and predictable continuation of dividend growth, while also providing the necessary flexibility for long-term investment and financial strength.Our focus is clear: to meet Türkiye’s growing energy needs with a secure, sustainable and robust infrastructure. In line with our ‘a Better Future’ vision, we will continue to lead Türkiye’s energy transition,” he stated.

Ulbrıch:

“Financial resilience and value creation will be our priorities in 2026”

Stating that they prioritized financial discipline and balance sheet resilience througout2025, Enerjisa Enerji CFO Philipp Ulbrich said, “In a high inflation and interest rate environment, we focused on maintaining a strong financial resilience. Through disciplined debt management, predictable cash generation, and clear capital allocation towards only most profitable businesses, we preserved our balance sheet flexibility. The visibility provided by our regulated business model continues to be one of the key pillars underpinning our financial stability. We now have clear visibility on the parameters of the 5^th Regulatory Period, which lay the foundation for the continuity of our core business model of long-term investments into electricity distribution grid.  It is observed that the current regulations governing the retail segment do not offset the impact of inflation on profit margins. As a result, margin pressure across the sector continues. Based on this visibility, we are setting ambitious targets for 2026, aiming to profitably grow investments and earnings above inflation expectations while continuing to balance disciplined execution with value-accretive growth.”

Enerjisa guides for 2026, to reach Operational Earnings of TL 75–80 billion and an Underlying Net Income of TL 11–13 billion. Over the same period, the Company plans to invest TL 30–35 billion, and by this to increase the Regulated Asset Base to the range of TL 110–120 billion.

Philipp Ulbrich adds: “As Enerjisa Enerji, with a clear strategic roadmap, a resilient business model and a strong commitment to creating sustainable value for all our stakeholders, we are well prepared to enter 2026 and the 5^th Regulatory Period from a position of strength.”

About Enerjisa Enerji 

Enerjisa Enerji, which pioneers the energy transformation in Türkiye by using the multiplier effect of sustainability and technology in line with its vision of ‘a better future for all,’ provides service to 25 percent of Türkiye in electricity distribution and retail, which are the main fields of activity of the company. Enerjisa Enerji, the prominent player in the industry, reaches 10.9 million customers in 14 provinces and provides electricity distribution services to more than 22 million users. While Enerjisa Enerji offers renewable energy and efficiency solutions to its customers via its Energy of My Business brand, the company also operates the first charging station network in Türkiye with Eşarj, the company of which Enerjisa owns 100% of its shares. 20 percent of Enerjisa Enerji, whose main shareholders are Sabancı Holding and E.ON, is publicly traded in Borsa Istanbul.

energy news from türkiye - enerji ekonomisi

Energy news from Türkiye

• ''The financing of the 60 MWp Solar Power Plant and 20 MWh Energy Storage System project developed in Zambia by Call Energy, our wholly owned subsidiary, has been completed and construction has commenced.''
• ''Under the project, which has a total investment value of approximately USD 60 million, the electricity to be generated will be sold to ZESCO for a period of 20 years. The EPC works will be carried out by YEO Teknoloji, while the battery production will be undertaken by Reap Battery.''

energy news from tüekiye - enerji ekonomisi

• THE GUIDEBOOK ON RENTAL INCOMES FOR NON-RESIDENT TAXPAYERS
• (Citizens of Foreign Countries not Residing in Türkiye and Turkish Citizens Residing Abroad)

This Guide has been prepared in accordance with the legislation in force as of its publication date. You may access legislative information and current announcements through the following channels of our Presidency:

• The official website,

• The Tax Communication Center (VİMER) hotline at 189,

• The Digital Tax Assistant (GİBİ), • Verified and official social media accounts,

• The Taxpayer e-Mail Communication System (MEİS),

• The e-mail notification system.

INTRODUCTION

According to the Income Tax Law No.193, incomes of real persons are subject to the income tax. Income items subject to the income tax are commercial incomes, agricultural incomes, salaries / wages, incomes from independent personal services, incomes from immovable property and rights (rental incomes), incomes from capital investment and other income and gains. Non-resident taxpayers are real persons who are not settled in Türkiye in other words who do not have their residences in Türkiye and who do not reside in Türkiye for a continuous period of more than six months within one calendar year.

Non- resident taxpayers shall be taxed only on income and gains which they have obtained in Türkiye, they do not file a tax return in Türkiye for income and gains which they have obtained in foreign countries.

On the other hand, Turkish nationals who live abroad with a residence or work permit are also considered within the scope of the non-resident taxpayer. According to explanations made in the Communique Serial No. 210 of the Income Tax Law, Turkish nationals who live abroad for more than six months with a residence or work permit shall be taxed on the basis of limited liability in terms of income and gains which they have obtained in Türkiye, except for Turkish nationals residing in foreign countries due to their works affiliated with private enterprises whose headquarters are located in Türkiye or public institutions.

The guidebook has been prepared to present explanations and samples about the property and rights which are subject to the rental income, amount of exception for rental income from house, limit for declaration in workplace rental income, equivalent rental value implementation, expenses which shall be deducted from declared rental income, tax withholding in rental payments, taxation of rental income in terms of Double Tax Prevention Agreements, time and form of rental income declaration, tax schedule, calculation of income tax payable, payment ways in terms of the taxation of those who rent out their property and rights in calender year 2025.

In addition, explanations have made on how to file a tax return swiftly, easily and safely via the Pre-filled Tax Return System serving 24/7, where tax returns on rental incomes are prepared in advance and submitted for the approval of taxpayers.

• link...
• THE GUIDEBOOK ON RENTAL INCOMES FOR NON-RESIDENT TAXPAYERS

news from türkiye - enerji ekonomisi 

• "Congratulations to ExxonMobil, Chevron, and Minister of Energy Bayraktar on their recently signed memorandums of understanding to deepen their cooperation on energy. This is a great step toward ensuring that the United States maintains the world’s most robust, productive, and innovative energy sector.”

energy news from Türkiye - enerji ekonomisi