Western analysts are concerned the fallout from the failed military coup of July 15 will weigh heavily on Turkey’s shaky democracy and increase president Recep Tayyip Erdoğan’s authoritarianism, according to an article in PV Magazine’s portal, which notes investors gauge political stability of markets as turmoil lifts expenses.

In the short term, the photovoltaic sector won’t feel the impact, claims Ateş Uğurel, founder of Turkish Solar Energy Society Solarbaba. He told the specialized media outlet most of the big deals are already signed, with the financing cost fixed. The facilities in question will be online soon, he said and added the projects are in the so-called unlicensed segment of the market in photovoltaics.

The country has auctioned a further 600 MW of capacity. “These projects have not been built yet and market experts have expressed suspicions that some of them might not get built, at least not soon. The reason for this is that, although these projects will receive a high feed-in tariff of USD 0.133 per kWh for 10 years, developers also need to pay a one-time fee per installed MW, which is very high for a number of the licenses. Therefore, financing for these licenses was already going to be difficult,” said the report signed by Ilias Tsagas.