The Turkish Presidency published a decree (Decree No. 3453) (the "Decree") on 30 January 2021 on the new renewable energy resources support mechanism (Yenilenebilir Enerji Kaynakları Destekleme Mekanizması, commonly referred to as "YEKDEM") which introduces the highly-anticipated feed-in tariff scheme that will apply to renewable energy power plants becoming operational between 1 July 2021 and 21 December 2025 (inclusive). The new YEKDEM scheme shifts the currency of previously US Dollar (USD)-denominated feed-in tariff and domestic components incentive premia payments to Turkish Lira (TRY), whilst still capping the price based on USD.
