Investors in photovoltaic projects were mostly willing to pay large sums at Turkey’s latest YEKA auction to secure a minimum guaranteed price for five years, followed by 20-year power purchase agreements. The government earned EUR 84.8 million overall from the secondary bidding for 650 MW, split into six areas. One zone is for a floating solar power plant.

According to Turkey’s Minister of Energy and Natural Resources Alparslan Bayraktar, domestic electricity demand is on a trajectory to triple to 1.05 PWh in the next 30 years. It follows an almost threefold jump of the last two decades, while natural gas is rising even faster, he pointed out.

The minister has urged investors to keep up the momentum, noting that the national goal for 2035 for solar and wind power is 120 GW in total.

One of the pillars of the government’s measures to incentivize such endeavors are renewable energy auctions. Notably, the obligatory domestic content rates are high, to boost manufacturing in the sector.

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