Sign in
Turkey set to amend regulations to boost renewable energy capacity: Turkey is working on renewable energy regulation amendments to boost private sector investments in a bid to quadruple wind and solar power to 120 GW by 2035, Reuters reports, citing comments made by Turkey’s Energy Minister Alparslan Bayraktar at an event.
(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)
The goal: The government is planning changes to its renewable energy resource area (YEKA) licensing program to amass applications for 34 GW of potential plants. The imminent changes will aim at reducing the processing time from four to two years, and they may also include more incentives, the minister said.
A lot of money is needed: The push would require USD 108 bn of public and private investment to fulfill its quadrupling goal, with USD 28 bn of that amount earmarked for improving transmission infrastructure. A tender for new 2 GW of wind and solar plants is scheduled for early next year and to include a new price floor scheme and long-term energy purchase guarantees to ease financing, the minister said.
What is YEKA? YEKA is a subsidy scheme – introduced by the government in 2016 – that provides renewable energy generation permits through competitive tenders. Major YEKA auctions for solar and wind were awarded in 2017, with additional auctions held between 2019 and 2022. We already knew that YEKA was set to resume next year with a reformed process and a new strategy, according to comments made by Bayraktar earlier this month.
