Solar YEKA tenders expected to unleash $600 mln in investments

Solar YEKA tenders expected to unleash $600 mln in investments

ISTANBUL
Solar YEKA tenders expected to unleash $600 mln in investmentsSolar YEKA tenders expected to unleash $600 mln in investments

Tenders for a total of 800 megawatts of solar energy in the Renewable Energy Resource Zone (YEKA) are expected to attract investments of around $600 million, according to Hakan Erkan from the Turkish Solar Energy Industry Association (GENSED).

 

Erkan noted that tender rules were changed in a way that will have a positive impact on the industry.

 

Under the new rules, the right to sell electricity in the free market after the investor completes the project within the first five years will accelerate solar energy projects, he said.

 

The Energy Ministry collects solar YEKA applications for 40 megawatts in Antalya, 200 megawatts in Karaman, 75 megawatts in Malatya, 60 megawatts in Van, 40 megawatts in Kütahya and 385 megawatts in Konya's Karapınar district.

 

According to data from the ministry, Türkiye electricity demand is estimated to be at least 510 billion kilowatt-hours in 2035. Renewable energy will play a big role in meeting the demand.

 

To date, the ministry has announced YEKA tenders for a total of 5,850 megawatts in solar and wind energy. Some of the YEKA projects have been canceled, some have been completed, and others are still in the investment phase.

 

Türkiye aims to quadruple its wind and solar installed capacity to 120 thousand megawatts by 2035.

 

Last week, the ministry collected 100 applications from 40 companies for wind power plants with 1,200 megawatts capacity in five YEKAs in the provinces of Edirne, Kırklareli and Sivas.

 

The tenders for 1,200 megawatts of wind energy under YEKA are expected to pave the way for $1.2 billion in investments, said Alper Kalaycı, president of the Energy Industrialists and Business Association (ENSİA).