Turkey's government has published the new fixed tariffs of the renewables incentive scheme for large scale renewables, the Yenilenebilir Enerji Kaynakları Destekleme Mekanizması, or YEKDEM.
The scheme grants a fixed price for a period of ten years and applies to clean energy projects selected in tenders, such as the 600 MW procurement exercise held in 2013 and the ongoing 1 GW tender recently launched by the Turkish Ministry of Energy.
Winning wind and solar projects will be eligible for a fixed tariff of TRL0.32/kWh ($0.044) while hydropower and geothermal projects will be granted tariffs of TRL0.40/kWh and TRL0.54/kWh, respectively.
Prices will be updated quarterly according to the consumer price index (CPI) and the producer price index (PPI), as well as any rise in the dollar-euro exchange rate. If the dollar and euro rate decreases, the updated price will not exceed TRL0.51/kWh for PV and wind, TRL0.o64 for hydropower, and TRL0.086 for geothermal energy.
The prices will be applied for 10 years for the licensed power plants that will come into operation from July 1, 2021 to December 31, 2025.
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