TEASER FOR 1 GW SOLAR RE-ZONE (YEKA) TENDER PACKAGE

1. RE-ZONE (YEKA) MODEL

The Ministry of Energy and Natural Resources (the MENR) issued the Regulation on Renewable Energy Resources Zones on October ,2016, in the Official Gazette. The new regulation has introduced a new investment model to support renewable energy investments and incentivize local manufacturing of renewable generation assets. The main purposes of the Regulation are to use renewable energy resources much more efficiently and effectively by identifying renewable energy zones on public, treasury, or private-owned territories; to realize the renewable energy investments much more rapidly; to manufacture renewable energy equipment in Turkey; to use locally-manufactured equipment/components; and to contribute to research and development activities through technology transfer. A renewable energy resource zone (YEKA) and its electrical connection capacity utilization rights can be offered to an eligible entity under the “Allocation on the Condition of Local Manufacturing” or “Allocation on the Condition of Using Locally-Manufactured Equipment” mechanisms.

In the first mechanism, the legal entity being offered the YEKA and its connection capacity utilization rights must establish an equipment manufacturing factory in Turkey according to the standards and the relevant terms of references (ToR) of tenders. A research and development (R&D) center must be established by the legal entity as well. In the R&D Center, R&D activities must be implemented at a certain period of time and in line with the pre-determined obligatory conditions such as budget, number of employees, and staff qualifications. In this mechanism, locally-manufactured equipment and the other local components that are defined in the ToR must be used in the YEKA.

In the second mechanism, the YEKA and its electrical connection capacity utilization rights are given to a legal entity who wins the competition and commits to procure locally-manufactured equipment and other related local components (balance of the plant) for the power plant from available Turkish factories. The equipment and components have certain levels of local content ratios as defined in ToR’s and must be compatible with the national or international standards.

In 2017, Turkey finalized the largest-ever solar and wind power reverse-auctions based on the first mechanism. On March 20, 2017 a consortium of Turkey’s Kalyon Enerji and South Korea’s Hanwha Q CELLS won the tender for the construction of a 1-GW solar power plant in the Karapınar district of the Central Anatolian province of Konya. The winning bid was a price of USD 6.99 cent/kWh. The tender – held in a reverse auction where the ceiling price per kWh was USD 8 cent/kWh – will see 1 GW of installed capacity along with a manufacturing factory for photovoltaic (PV) equipment coming online over the next two years. Under the terms of the tender, the power purchase agreement (PPA) will be valid for 15 years, and the solar equipment used must be domestically procured.
On the other hand, Turkey held one of the largest wind tenders calling for 1 GW power installation and establishment of a local wind turbine factory. A consortium of German giant Siemens and Turkey’s Türkerler and Kalyon Enerji Holdings won the billion-dollar wind energy tender on Aug. 3 2017, offering the lowest power purchasing price to the state with $3.48 cent/kWh. The consortium will benefit from the PPA for 15 years. The turbine assembly plant will in the first stage be supplying locally-manufactured components to the 1 GW capacity YEKA Wind Power Plants. (WPPs).

2. SOLAR TENDER FOR 1 GW CAPACITY ALLOCATION

The MENR announced in the Official Gazette dated October 7, 2018, the new YEKA tender for 1 GW capacity broken into three different Connection Regions (Şanlıurfa, Niğde, Hatay). The new YEKA tender will be based on the model of “Allocation of the Capacity on the Condition of Using Locally-Manufactured Equipment.” The Ministry has set January 31, 2019, as the deadline for submission of the financial offers. Three separate tenders will take place and the investors may apply to any or all of the tenders.
The tender calls for a reverse-auction from the ceiling price of USD 6.5 cents/kWh and set-up of solar power plants with 60% localization. The power plants will be licensed for at least a 30-year period and will not be benefiting from any additional premium or support from the Government. The electricity generated from the power plants shall be purchased by the Government at the price identified through reverse-auction; and the PPA term begins with the signing of the Contract on the Allocation of the YEKA Utilization Rights between the Ministry and the Winner.

3. TERMS OF REFERENCE (ToR)

Qualifications:
− One legal entity, joint ventures or consortiums may offer bids to the tender and no previous experience is expected from the bidders. Acquisition of the ToR by at least a member of joint ventures or consortiums is required in order to participate in tender.
− Legal entities and joint ventures or consortiums must satisfy either of following financial criteria. The shares of different shareholders are taken into account in calculation:

For Şanlıurfa (500 MWe):
a. Total sales revenues or turnover for 2015, 2016 and 2017 ≥ 300,000,000 TL (or its equivalent in foreign currency)
b. Total assets’ value as of the end of 2017 ≥ 90,000,000 TL (or its equivalent in foreign currency)

For Niğde (300 MWe):
a. Total sales revenues or turnover for 2015, 2016 and 2017 ≥ 180,000,000 TL (or its equivalent in foreign currency)
b. Total assets’ value as of the end of 2017 ≥ 54,000,000 TL (or its equivalent in foreign currency)

For Hatay (200 MWe):
a. Total sales revenues or turnover for 2015, 2016 and 2017 ≥ 120,000,000 TL (or its equivalent in foreign currency)
b. Total assets’ value as of the end of 2017 ≥ 36,000,000 TL (or its equivalent in foreign currency)

− Applicant shall submit to the Ministry a 1-year letter of guarantee which is exact, convertible to cash partially or wholly, and which is arranged by banks established in Turkey according to Law of Banking No: 5411, or by foreign banks who are allowed to operate in Turkey according to their legislation, or by Banks who operate in Turkey under counter-guarantee of banks or credit institutions active outside Turkey. The guarantee letters shall be submitted separately for each of the tenders if the applicant is to participate in all. The letters of guarantee for the projects are as follows: Şanlıurfa 3,000,000 USD; Niğde 2,000,000 USD, Hatay 1,500,000 USD.

Localization and Efficiency

− The solar components shall have the localization ratios in the following table.
− The winner shall procure the required locally-manufactured components from local manufacturers operating within Turkey (except for Free Trade Zones).
Localization Table
COMPONENTS – LOCALIZATION RATIOS
Solar Module ≥60%
Cable ≥51%
Cable Conduit ≥51%
Carrier (Support) Construction ≥51%
Inverter* ≥51%
*In the absence of localized inverter in the market, no localization is required.

− In calculation of the localization ratio, the local product regulation of the Ministry of Industry (http://mevzuat.basbakanlik.gov.tr/Metin.Aspx?MevzuatKod=9.5.20049&MevzuatIliski=0&sourceXmlSearch=YERL%C4%B0%20MALI) is taken into account and the relevant Regulation sets the following formula in calculation of localization:

Cost of Final Product (TL) – Cost of Import Input in Total Final Product Cost (TL)
Localization Ratio = ——————————————————————————————————— x 100
Cost of Final Product (TL)

− Pursuant to the Regulation, “direct and indirect input costs, direct and indirect labor costs and other general costs related to the product” are considered as cost items.
− The minimum efficiency strandards are as follows:
Solar cell efficiency ≥ 21%
Solar module efficiency ≥18%

Compensation:
− Any losses in electricity flow resulting from the market operation orders of the TEIAS (transmission system operator) that exceeds 2% of the total electricity generated in a certain billing period is compensated in the next billing period as income loss. Following formula shall apply to calculation of income loss.

Amount of Payment (kWh) = (electricity amount not granted to the system – (2 x total generated electricity/100)
Income loss[TL] = Amount of Payment (kWh) x (PPA Price – Market Clearing Price)

Procurement of Tender Documents and Submission of Financial Offers:

Companies shall procure tender documents from the Directorate General for Energy Affairs (DGEA) under the Ministry of Energy and Natural Resources for which the contact details are given below:

Name : T.C. Enerji ve Tabii Kaynaklar Bakanlığı
Address : Enerji İşleri Genel Müdürlüğü, Eskişehir Yolu 7. Km, No: 166, 06520 Çankaya/ANKARA
Phone : +90 312 295 51 10
Fax : +90 312 295 50 05
E-mail : yeka@enerji.gov.tr

The companies shall in the first stage pay 5,000 TL to the following bank account as tender document fee and shall apply to DGEA for procurement of tender with the payment receipt. Separate tender document payments shall be made for each of the tender.

Bank Account Name : T.C. Enerji ve Tabii Kaynaklar Bakanlığı Merkez Saymanlık Müdürlüğü
Branch name :T.C. Merkez Bankası Ankara Şubesi
Account Number (IBAN) : TR 5700 0010 0100 0003 5015 4015

The interested entities shall submit their financial offers to the DGEA with the required documents in the ToR no later than 12.00 on January 31, 2019.

4. COMPETITION PROCESS AND IDENTIFICATION OF PPA PRICE
The legal entities who will participate in the tender must submit all application forms defined in the ToR. The Commission shall open the sealed envelope including all application forms according to the document registration order in the presence of the applicants at a place on a date/time specified in the competition announcement and will check all the documents within the scope of the contents stated in the ToR. If any one of the application letter, receipt of received ToR, Letter of Guarantee, financial offer envelope, or signed ToR is missing and / or if one of these is found to be incorrect, the application shall not be taken into consideration.
The financial offer envelopes of the applicants who are entitled to participate in the competition shall be opened by the Commission at a specified place on a specified date/time in the presence of all eligible applicant authorities. Offers in the financial offer envelopes are ranked and a competition based on a reverse-auction method is carried out among a maximum five designated participants with the lowest financial offers. If there is an equality in the financial offers while determining the least five financial offers, all the applicants with equal offers shall be included in the competition.

The Competition shall continue until the lowest price offer is reached through the reverse-auction process. Applicants who submit their final price offer and who do not give a new offer, sign the Official Reverse-Auction Report and cannot offer again in the competition. The applicant who has the lowest price offer at the end of the competition shall have YEKA utilization rights. The whole and final price offers of the applicants are registered in the Official Reverse-Auction Report issued by the Commission, and it shall be signed by the all eligible applicants.

The Commission’s Report shall be submitted to the approval of the Minister. The competition shall be finalized with the approval of the Minister, and the approved applicant with the lowest price offer shall be invited to sign the Contract on the Allocation of YEKA Utilization Rights. The Ministry may cancel the competition at any stage until the Signing of the Contract.

For further information, please contact Yasemen Korukçu, korukcu.yasemen@invest.gov.tr –
C/Principe de Vergara 55, 6B 28006 Madrid
Tel: +34 91 010 76 45

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