Turkey announces new renewable energy subsidies as targets raised

Turkey has announced a series of new subsidies to support renewable energy equipment production, as it raises its renewable energy targets.

Renewable energy turbine and generator manufacturing, as well as wind energy production, will be considered “priority investment area” by the Turkish government in order to provide state subsidies, the government stated in the Official Gazette on Nov. 19.

Economy Minister Nihat Zeybekci said state incentives for renewable energy equipment manufacturing would also be supported through VAT exemptions, other tax exemptions, and non-rate subsidies.

 

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