Turkey extends feed-in-tariff scheme for geothermal to mid-2021
Energy Disrupter
The Turkish government has extended the term of the feed-in-tariffs for renewable energy, including geothermal by six months. To run out on December 31, 2020, it has now been extended to June 30, 2020.
Earlier this week, we shared news on a possible extension fo the Renewable Energy Support Mechanism (YEKDEM) in Turkey.
As now announced, the extension has been approved by Turkey’s President. The renewable energy sector had stated the negative effects of the delays in the supply chain due to the covid-19 pandemic on the projects, demanding that the situation be considered force majeure and the mechanism to be extended.
According to the decision, the commissioning condition was postponed to 30 June 2021 from 31 December 2020 in order to benefit from the mechanism.
The kilowatt-hour of electricity generated by the power plants utilizing YEKDEM was guaranteed USD 0.073 for wind and hydroelectric, USD 0.105 dollars for geothermal, USD 0.133 for biomass and solar. The mechanism that reached its goal and caused the installed power based on renewable energy resources to rise thanks to this incentive ended on December 31, 2020. For geothermal this means an a feed-in-tariff of USD 0.105/ kWh and a bonus payment of USD 0.027/ kWh for equipment made in Turkey.
Below an overview on the feed-in-tariffs of 2016, which has now been extended until June 30, 2021.
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