ICD finances Sampa’s solar project: The Islamic Corporation for the Development of the Private Sector (ICD) is providing Turkish car parts maker Sampa Otomotiv Sanayi (Sampa) with EUR 15 mn financing to establish a 21 MW solar plant for its facilities, according to a statement. The project was approved under the Renewable Energy Support Scheme (YEKDEM).

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About YEKDEM: The scheme aims to boost the development of renewable energy projects by providing financial support through feed-in tariffs, the statement notes. The government sets the tariffs and provides a guaranteed price for the electricity produced from the projects for a specific time period. The initiative is part of a general policy push to support the renewables sector that also includes the Renewable Energy Resources Area (YEKA) program.

Turkey has big renewables plans: Turkey is working on renewable energy regulation amendments to boost private sector investments in a bid to quadruple wind and solar power to 120 GW by 2035. The government is planning changes to its YEKA licensing program to amass applications for 34 GW of potential plants.

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