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Turkish Renewable Energy Resources Support Mechanism (YEKDEM) will be will be replaced by a more competitive option, the Renewable Energy Resources Zone Areas (YEKA) by 2020, Turkey's Energy and Natural Resources Minister Berat Albayrak said on Wednesday.

Steps in the direction of national energy and mining policy are continuing and low-cost investment opportunities are attracting high interest from investors, Energy and Natural Resources Minister Berat Albayrak said. Speaking at the 6th Wind Energy Congress (TÜREK), Albayrak said that Turkey prioritized its own resources in the direction of "more domestic and more renewable" principle and those steps were taken in this direction. Turkey has revealed attractive models for international investors with its investment capacity, potential, investment incentives and attractive opportunities, Albayrak said, adding that the country has put forth a great success story thanks to the said models in the last 15 years.

Energy and Natural Resources Minister Berat Albayrak also said the Renewable Energy Resources Support Mechanism (YEKDEM) has made a great contribution to the sector during its implementation, announcing that the mechanism has filled its term and that the implementation will end in 2020.

Albayrak recalled that eight of the 10 largest energy companies in the world participated in the Renewable Energy Resource Areas (YEKA) bidding, indicating that it represented the potential of the foreseeability of the Turkish market.

Explaining that the YEKA model has been put forward in order to confront the market with a more rational model in the energy, Albayrak said: "This has become a successful model in many senses and a model that has made a tremendous impact in the world."

Albayrak, emphasizing that the YEKA model will continue to be implemented, said: "YEKA will continue, especially in the wind, with some surprising steps in 2018. We carried out the biggest contract in solar energy in the world and it was very successful indeed. We will continue with various surprising steps in wind as well as in solar energy next year."

Underscoring that they are working on new models in solar and wind energy, he said, "By using every source with maximum efficiency, we have to open up the way for the maximum competition. Important steps will continue to be taken in terms of technology transfer and domestic production."

He also emphasized the importance of renewable resources. "Turkey provides 55 percent of the new capacity commissioned in 2016, and 64 percent of the capacity in 2017, from renewable resources. It is an important success in the world, and it will increasingly continue. Our domestic and renewable support will continue in this context," he said.

Turkey's YEKA tender nabs lowest wind price in Europe - WindEurope hopeful for other rounds of YEKA tenders following Turkey's successful debut auction in August, WindEurope CEO.

Turkey has obtained the most competitive price for wind energy in Europe through its Renewable Energy Resources Zone Areas (YEKA) auction in August, WindEurope CEO Giles Dickson said on Wednesday in Ankara.

During the opening speech of the 6th Turkish Wind Energy Congress Dickson explained that Turkey installed over 500 megawatts of new capacity this year.

"Turkey had a very successful YEKDEM [Turkish Renewable Energy Resources Support Mechanism] auction in July and had a very successful first YEKA auction in August. We are looking forward and hope to have other rounds of YEKA auctions," Dickson said.

YEKDEM was launched in 2011 to use the country's vast clean energy resources efficiently and to support their development.

A Kalyon - Turkerler - Siemens Gamesa consortium won the first 1,000-megawatt wind tender offered by YEKA in August.

The offered price of $3.48 per kilowatt-hour of electricity production in the country's first 1,000-megawatt wind tender on Thursday, Aug. 3, broke a record in Turkey as the lowest cost of electricity per hour accepted from wind power generation, surpassing the previous record of $10.30 per kilowatt-hour.

According to Dickson, many of WindEurope members have already invested in the Turkish market while many more are also interested in investments. He asserted that the most effective way to bring further investments to Turkey is through transparency and promoting the auction system up until 2023.

He warned of the importance of keeping a close eye on the prices in the market as very low prices can have a negative effect on the numbers of players that can enter and sustain trade in the sector.

"It is excellent that Turkey have achieved such low prices in the YEKA auction. Just one observation from our early experience in Europe would be to resist the temptation to try to push those prices too low. Prices sound great when the cost of wind power is coming down, but how many companies can play in the market when prices are negative," he said.

What will that do to market competition if there are fewer players in the market," he added.

"As a member of the European wind industry, we are determined and committed to continue to work with you. We see you as part of a family. We are not WindEU, we are WindEurope, and we are delighted to count Turkey as one of our successful markets at the moment," he concluded.

On October 28, wind power sources from 28 countries in the European Union (EU) set a new record: they provided 24.6% of total electricity — enough to power 197 million European households.

Though the spike in power was likely due to the powerful storm that passed over Europe that weekend, with 153.7 Gigawatts (GW) of wind power capacity installed in the EU (including the largest offshore wind farm off the coast of Kent), the region is on its way to becoming a major force for renewable energy.

In 2009, the European Council adopted an energy and climate target to reduce the EU-wide emissions of greenhouse gases to 80 percent below 1990 levels by 2050. This target includes a directive to fulfill at least 20 percent of its energy needs with renewables by 2020.

As a result, offshore wind energy is now cheaper than nuclear energy in the UK, and countries across Europe receive significant portions of energy from wind. Denmark regularly gets more than 100 percent of its energy from wind (and hit 109% last weekend), while wind frequently provides Germany more than half of its electricity. Additionally, Scotland recently made news in opening the first floating wind farm, which should provide power to 10,000 homes.

Additionally, with new wind farms being constructed offshore, these high records are likely just the beginning of a new norm for European energy. Denmark’s Ørsted Energy is currently working on the world’s largest offshore wind farm for the UK, which will have the capacity of 1200 Megawatts (MW) when it opens in 2020—and they’re under contract to build what will become the next largest offshore wind farm, also in the UK, with a planned capacity of 1386 MW when it opens in 2022.

Kaynak: futurism.com 

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