Turkey: İçtaş Enerji YEKA Erzin-II Hatay 100MW Solar PV Project

approved

The Project comprises the development, construction, and operation of a solar photovoltaic (PV) plant with 100 MW of installed capacity (135.6MWp) in the municipality of Erzin, in the province of Hatay. The Sponsor of the Project is IC Içtas Group (the Group), a Turkish conglomerate founded in 1969. The Group owns and operates 1,450 MW of installed capacity, mainly thermal and hydropower plants, and distributes approx. 6.57 billion kWh per annum of electricity. The Project was awarded to IC İçtaş Enerji in June 2022 through the YEKA GES-4 reverse auction under a license period of 30 years. The auction allocated 700 MW of capacity across 12 solar PV projects under a ceiling price of up to TRYkr 95/kWh. The Project secured an inflation and foreign exchange (FX)-linked tariff of TRYkr 58.4/kWh (the Tariff) whereas tariff bids ranged between TRYkr 49-59.7 /kWh. The Project is entitled to sell up to 23 GWh per MW of capacity installed at the Tariff. The Project agreements were signed between IC İçtaş Enerji and the Ministry of Energy and Natural Resources (MENR) in August 2022.