YEKDEM (Yenilenebilir Enerji Kaynakları Destekleme Mekanizması) – a FIT scheme introduced by the Turkish Government – will come to a close at the end of 2020. The details of what will follow have not yet been announced. The scheme is accepted as an additional guarantee by domestic financial institutions and facilitates the financing of solar projects. As it stands, after this year loan repayments will be under the sole guarantee of the borrower.
The FIT payments were initially made in U.S. Dollars (USD), which was good in terms of currency risk, since the majority of CAPEX costs are also in USD (panels and inverters etc.).
Unlicensed solar rooftop and facade projects operate on a self-consumption basis. In the case of self-consumption, savings are made on the Turkish Lira (TL), and investors will make repayments to a bank instead of a distribution company.