Turkey: The Ministry of Energy has announced 16 new YEKA auctions

Applications for PV systems will be accepted on November 4, 2025, and for wind power installations on November 18, 2025, in each case between 10:00 AM–12:00 PM (GMT+3) in Ankara. Application documents must be submitted in person. The location and date of the auctions will be announced at a later time on the Ministry’s website.

Eligible participants include corporations in the form of a joint-stock company or limited liability company under Turkish law, joint ventures, or corporations established abroad (for example, the German AG or GmbH).

The maximum price for all 16 auctions is €5.50/kWh, with the minimum price for PV systems at €3.25/kWh and for wind power installations at €3.50/kWh. If the minimum price is reached in the auctions, the starting price for increasing the contribution rate per MW is €10,000.00. The offered prices and the contribution rate are subject to VAT of 20%. Thus, the YEKA auctions are fundamentally descending auctions.

The currency of the auctions is the euro. Furthermore, the contracts provide for ICC arbitration clauses for cross-border transactions. This is intended to promote foreign investment.

From the date of contract signing, electricity generated in the PV system can be sold on the open market for 60 months, and electricity generated in the wind power installation for 72 months. This is followed by a 20-year power purchase period for both electricity generation installations. The fees paid to the grid operator during the power purchase period will be reimbursed to the auction winner under the YEKDEM mechanism.

The areas and grid connection capacities announced in the Official Gazette are as follows:

Furthermore, the auctions are subject to the following framework conditions:

For PV systems:

• Payment of a tender document fee of 75,000.00 TRY per auction,
• At the time of application submission, provision of an irrevocable bank guarantee of €15,000.00/MWe per auction, validity of the bank guarantee 1 year,
• Upon award, provision of an irrevocable bank guarantee of €75,000.00/MWe per auction, at the latest 1 day before contract signing, validity of the bank guarantee 10 years (in this case, the bank guarantee provided at the time of application will be refunded).

For wind power installations:

• Payment of a tender document fee of 75,000.00 TRY per auction,
• At the time of application submission, provision of an irrevocable bank guarantee of €20,000.00/MWe per auction, validity of the bank guarantee 1 year,
• Upon award, provision of an irrevocable bank guarantee of €100,000.00/MWe per auction, at the latest 1 day before contract signing, validity of the bank guarantee 10 years (in this case, the bank guarantee provided at the time of application will be refunded).

Additional tender conditions and draft contracts are published on the Ministry’s website.

Foreign corporations that participate in the auctions and receive an award are required to establish a Turkish corporation by the time of contract signing, in which they hold 100% of the shares. The articles of association of this corporation must contain special provisions. The corporate purpose must contain specific wording, and the amount of capital must be based on the investment value determined by the Energy Regulatory Authority (generally 5% of the investment value at the time of applying for the preliminary license, generally 20% of the investment value at the time of applying for the production license).

Interested parties should conduct feasibility studies in a timely manner and develop financing models that take into account CAPEX and OpEx, among other factors, as well as visit the project site. In this context, it should be noted that in addition to the tender conditions and draft contracts, the site coordinates and the grid connection assessments are also published by the Ministry in a transparent manner.

From the Newsletter “E|News: Renewable Energy”