Turkish energy market regulator extends deadlines for energy projects
The Energy Market Regulatory Agency (“EMRA”), with its decision dated April 2, 2020, provided some relief to the energy market amid the Covid-19 pandemic. Through granting a three month extension on certain deadlines which went into effect on or after March 10, 2020, all projects, including renewables, licensed or unlicensed, will be able to benefit from the extended periods.
Extended deadlines will apply to, among others, the following:
- preconstruction and construction periods;
- actions to be taken under an amended license or pre-license;
- actions to be taken in relation to mergers or demergers;
- completion of any missing information or documentation in a license or pre-license application; and
- for unlicensed generators, connection agreements which expired or will expire on March 10, 2020, or at a later date.
Please see the most recent issue of the Project Finance NewsWire for an update on how regulators around the world have responded to the pandemic.