Invest News Detail
Dunya - The long-awaited law governing the generation of energy from renewable resources has passed through the Turkish Grand National Assembly (TBMM). The Renewable Energy Law aims to encourage energy production from renewables by providing incentives for the generation of energy from sources such as wind, solar power, biomass, hydropower and geothermals.
The legislative framework adjusts the prices for the sale of electricity to the state according to their generation method. According to the law, renewable energy plants will be subject to prices of between ¢7.3 and ¢13.3 per kW/h. A hydroelectric power plant will be able to sell electricity at a cost of ¢7.3, the same as the amount for a wind farm, while geothermal energy suppliers can sell at a higher price of ¢10.5. Companies that use biomass and solar power are subsidized the most at a rate of ¢13.3 per kW/h.
The law also features additional support for companies with facilities that use locally produced equipment/components.