Recent Development The Capital Movements Circular was amended to change the total amount of FX loans Turkish residents can borrow for financing renewable energy projects with state guarantee and made under the framework of the Law No. 5346 on the Use of Renewable Energy Resources for the Purposes of Generating Electricity. What Does the Amendment Say? Prior to the amendment, the amount of the FX loans utilized could not exceed the product of the generation amount set out in the borrower’s license and subject price (including local support price) within the scope of YEK Support Mechanism (YEK Destekleme Mekanizması), calculated for eight years. Following the amendment, the FX loan to be utilized will not exceed 80% of the product of the generation amount set out in the borrower’s license and subject price (including local support price) within the scope of YEK Support Mechanism (YEK Destekleme Mekanizması), calculated based on the remaining period of the state guarantee. ConclusionThe ceiling of FX loans to be utilized for renewable energy projects is now updated. |
For further information,
please contact:
Legal Alerts
24/05/2018 09/06/2022
Turkey Amends FX Loan Amounts for Renewable Energy Projects
Legal Alerts
Banking & Finance
General
Recommended for you
- Doing Business in Türkiye 2025
- Additional corporate income tax deduction for R&D and design centers re-regulated and RUSF rate for foreign loans obtained by financial leasing companies set as zero
- CBRT Introduces New Exception on Utilization of FX Loans
- What does the last decision of the Constitutional Court mean for employment law-related disputes?
- Amendments to the Regulation on General Assembly Meetings of Joint Stock Companies
- COVID-19: Termination Prohibition and Unpaid Leave Extended to May 2021
- Amendments to the Turkish Commercial Code No. 6102
- New Omnibus Law Amending Tax Laws
- New Era For Sustainability Guidelines: New Reporting Format
- New Regulations on Recycling Contribution Share Declarations
- New Product Safety Rules