Türkiye's leading participation finance institution, Kuveyt Türk continues to provide financing support to investments in solar power plants in the field of renewable energy resources. 523 megawatts of installed solar power plants, of which 7,385 megawatts are installed in Türkiye, are covered by 174 projects financed by Kuveyt Türk.
The completion of the YEKA SPP-3 competitions, developed by the Ministry of Energy and Natural Resources within the scope of the Renewable Energy Resource Areas (YEKA) model, despite the epidemic conditions, was welcomed in the participation finance sector. As part of YEKA SPP-3, 74 mini YEKA competitions with capacities of 10, 15 and 20 megawatts were held in 36 provinces to allocate a total connection capacity of 1,000 megawatts. Also as part of of YEKA SPP-4, where applications will be made on March 30, 2022, 15 competitions with a total capacity of 1,000 megawatts will be held. Capacities will be allocated in 50 and 100 megawatt sizes. As part of YEKA GES-5, where applications will be made on January 12, 2022, 76 solar energy-based competitions will be held in 23 connection regions with 1,500 megawatts. With YEKA SPP, it is aimed to create new opportunities in the fields of solar and wind energy in Türkiye, such as the development of the domestic industry and related sub-industry, the training of qualified personnel and the strengthening of the supply chain.
“We attach importance to providing fund support to those who invest in the SPP field”
Emphasizing that it is very important to use renewable energy sources in order to meet the energy needs of future generations, to reduce the damage to the environment and to contribute to sustainability, Ufuk Uyan said, "The distribution of the tenders within the scope of YEKA SPP-3 among various provinces of Türkiye and the contribution they will provide to employment further increases the importance of these investments. It is a pleasing development that YEKA GES-4 and YEKA GES-5 competitions will be held in the first months of 2022 in our world where energy is gaining importance. In addition to the positive impact of such projects on the environment, we find it valuable to contribute to the reduction of foreign dependency in energy and the current account deficit. In addition, we attach great importance to providing funding support to those who will invest in the SPP field, as it is an area where the funds to be collected may be channeled into our Global Sustainable Tier 2 Subordinated Sukuk Issuance, a first in the world and in Türkiye.
“We are also a pioneer in participation finance with the support we give to SPP projects”
Noting that Kuveyt Türk stands by all legal companies that produce environmentally friendly renewable energy with the financing of YEKA SPP, Ufuk Uyan said, " According to the October 2021 data of the Turkish Electricity Transmission Corporation (TEİAŞ), the capacity of solar power plants installed in Türkiye is 7 thousand 385 megawatts. As an institution, our share here corresponds to 7 percent with an installed power of 523.46 megawatts. In this context, we lead the participation finance sector by providing financial support to 174 projects in total. While renewable energy sources play an important role in energy continuity and meeting the need, on the other hand, by making energy diversity possible, it both eliminates environmental risks and contributes to environmental sustainability. As Kuveyt Türk, we will continue to support all businesses that want to invest in solar energy, which is one of the most prominent renewable energy sources.”