Renewable energy producers in Turkey get EUR 5.8 billion in incentives in 2019

Turkey February 4, 2020 | Comments: 0Author: Balkan Green Energy News

Photo: Istanbul (Pixabay)

Renewable energy producers in Turkey received TRY 38.04 billion (EUR 5.8 billion) in incentives in 2019 under the Renewable Energy Support Scheme (YEKDEM), according to data provided by Energy Exchange Istanbul (EXIST).

Under the YEKDEM program, renewable energy plants get feed-in tariffs. The stimulus is available for for wind, hydro, geothermal, biomass and solar.

A total of 777 facilities with an installed capacity of 20.92 GW received financial backing under YEKDEM and produced 76.67 TWh of electricity, the Daily Sabah reported.

Feed-in tariffs range from USD 0.073 per kWh to USD 0.133 per kWh

The scheme launched in 2011 envisages support of USD 0.073 per kWh for wind parks and hydropower plants, USD 0.105 per kWh for geothermal facilities and USD 0.133 per kWh for solar power and biomass-fueled plants.

In 2020, Turkey aims to generate 82.5 billion kWh of electricity with the help of YEKDEM, from 818 plants with a total installed capacity of 21,877 MW, according to the portal.

The YEKDEM scheme is ending this year

The YEKDEM scheme is ending this year and the authorities are working on a new model.

Turkey has another incentives mechanism, called YEKA or Renewable Energy Resource Zones. It was launched in 2016.

The International Energy Agency (IEA) forecasted in November that Turkey would become the 5th biggest in Europe by renewable energy capacity by 2024, and the 11th in the world.