TL-based YEKDEM FITs start on July 1

(Enerji IQ – July 2021) Turkey’s TL-based new renewable energy supporting mechanism (YEKDEM) feed-in tariffs (FIT) became effective on July 1, 2021. Some investors had been urging the Ministry of Energy to extend the USD-based FITs until the end of this year, citing delays due to the Covid-19 pandemic.

The renewable power plants, having a renewable resource certificate, will be able to benefit from FITs for a 10-year period. The new YEKDEM scheme covers powers power plants that will be commissioned between July 1, 2021, and December 31, 2025.

The TL-based prices will be updated quarterly. In the escalation of prices, the share of PPI and CPI will be 52%, while the shares of Dollar and Euro exchange rates will be 48%. Ceiling prices, varying between 5.10-8.60 $c/kWh, will be applied to escalating prices.