New Presidential Decision on YEKDEM Feed-in Rates
Posted in Energy
Renewable energy legislation amended in December 2020 gives the President the authority to announce new Turkish Lira denominated renewable energy support mechanism (“YEKDEM”) feed-in rates for facilities becoming operational after June 30, 2021. A Presidential Decision dated January 30, 2021 announced the applicable rates.
Electricity generation facilities holding a renewable energy resource certification that will become operational between July 1, 2021 and December 31, 2025 will benefit from the following feed-in tariff rates for a period of ten years and a period of five years for the additional domestic component incentive:
Rates specified in the table above will be updated on a quarterly basis with the first update to be announced on April 1, 2021.
The Decision also caps, in US Dollars, the feed-in rates for each power source category as follows:
Electricity generation facilities which will be operational before July 1, 2021 are able to benefit from the current feed-in rates, denominated in US dollars, which are higher than both the recently announced Turkish Lira rates and also the capped rates shown above.
Feed-in rates effective until July 1, 2021:
There are also additional incentives for the use of domestically-manufactured components.
Click here to access our energy round-up for a detailed review of changes made to the renewable energy legislation in 2020.