Ateş Turnaoğlu
Biography
Overview
Ateş is a partner of our Debt Finance practice in Istanbul. His practice focuses primarily on representing corporate borrowers, banks and other financial institutions, equity investors, export credit agencies and other lenders and lessors in relation to a wide range of project, structured and acquisition finance transactions and banking finance in the power and infrastructure industries.
His experience with energy assets includes conventional power projects and a broad range of renewables transactions. He also has a broad range of infrastructure experience, including the funding of hospitals, toll roads, highways, bridges, and airports (including the financing of healthcare public private partnerships and privatisation).
Ateş serves clients in many different sectors, including energy, infrastructure, transportation and logistics, mining and metals, oil and gas.
Faculty of Law
Experience
Representation of Enerjisa Enerji Üretim A.Ş. in connection with the US$102 million Export Credit Agency (ECA)-backed commercial green financing provided by HSBC Group for the development of 65 MW Erciyes wind power plant and solar hybrid power plants. The deal meets the requirements of the Green Loan Principles (established by the Loan Market Association, Asia Pacific Loan Market Association and the Loan Syndications and Trading Association) and consists of three unsecured tranches, one of which is backed by Euler Hermes and back-to-back funded by KfW IPEX-Bank.
Representation of Kampüs Kentsel Proje Yatırımları İnşaat Taahhüt A.Ş. and the consortium of sponsors & shareholders including SU Investments S. à r. L., Netka Global Investment B.V., Southern Wind S. à r.L., Kalyon İnşaat Sanayi ve Ticaret A.Ş., JM Investment S.P.A., Fingen Capital 3 S.R.L., Gaw Capital Partners, Vital Prime Pte. Ltd. and BGM Holding S.R.L. in the SACE-backed financing for up to EUR100,000,000 arranged by JPMorgan Chase Bank, N.A., London Branch, relating to the development of a new premium designed outlet with retail areas in the Istanbul Airport development area.
Representation of the joint bookrunners Citigroup Global Markets and Morgan Stanley on the Rule 144A/Reg S US$400 million debut Eurobond issuance by GDZ Elektrik Dağıtım A.Ş., Türkiye's fourth largest distribution network, and representation of Morgan Stanley on the US$119 million tap issuance which followed.
Representation of Limak Yenilenebilir Enerji A.Ş. as Issuer on the offering of US$450,000,000 9.625% Senior Green Amortizing Notes due 2030, followed by a US$75,000,000 tap issuance to be consolidated into a single series. The Notes are classified as green bonds.
Representation of a consortium of lenders consisting of İş Bankası, EBRD, Garanti BBVA, and TSKB in connection with a US$70 million cash facility extended by EBRD and the EUR14,870,000 letter of guarantee facility extended by İş Bankası to Polat Enerji Yatırımları A.Ş., jointly owned by Polat Holding A.Ş and İş Enerji Yatırımları A.Ş., for the purpose of financing the 30.8 MW wind capacity extension of Soma WPP, Geycek WPP, and Poyraz WPP in Türkiye, as well as the construction of a 46.6 MW hybrid solar power plant and a 10 MWh battery storage system co-located with the operating Geycek WPP.
Representation of Borusan EnBW Enerji Yatırımları ve Üretim A.Ş. on a US$120 million facility extended by Akbank, EBRD, İş Bank and TSKB to finance the construction of 80 MW Pelit Wind Power Plant in Sivas and the second capacity increase of 36.3 MW at the Balabanlı Wind Power Plant in Tekirdağ, Türkiye.
Representation of Kalyon Enerji Yatırımları A.Ş. in connection with the EUR249 million UK Export Finance (UKEF)-supported facility arranged by Standard Chartered Bank to finance the 390 MWp Anka Solar Power Plant Project, which spans the provinces of Bor-Niğde, Gaziantep, and Şanlıurfa-Viranşehir.
Representation of Garanti BBVA, İş Bank and Ziraat Bank, in connection with the financing of the acquisition of 100% shares in Doğuş Turizm Sağlık Yatırımları ve İşletmeciliği A.Ş. a joint venture between Qatar Investment Authority and Doğuş Holding, by Orjin İstinyepark İstanbul Gayrimenkul Yatırım A.Ş.
Representation of Fernas İnşaat A.Ş, as sponsor and Fernas Otoyol İşletmesi A.Ş., the project company, in the financings with an aggregate amount of EUR1,244,857,455 for the construction of Aydın-Denizli Motorway in accordance with the built-operate-transfer model, which became fully operational in October 2024.
Next Generation Partner in
-Bank, Finance and Capital Markets,
-Project Finance/Projects and
-Restructuring & Insolvency
Legal 500, 2025
"Ateş Turnaoğlu stands out for his strategic vision and leadership. His ability to see the bigger picture while staying attentive to every detail has been invaluable. Ateş is not only highly knowledgeable but also incredibly responsive. Whether it's a critical issue or a routine inquiry, he is always available to provide guidance, making us feel supported and confident. Ateş's ability to simplify even the most complicated issues and communicate them effectively has been crucial to our decision-making process. He's a partner in every sense of the word."
Legal 500, 2025
"His strong problem-solving abilities and unwavering availability add tremendous value to our banking and finance projects."
Chambers & Partners, 2025
"Ateş Turnaoğlu has been exceptional business partner. Ateş is very intelligent and resourceful. He helps with every complicated problem, offers solutions and leads the process whenever needed."
Legal 500, 2024
