Turkey's green power certification market launches
Each megawatt-hour of renewable energy supplied to network by licensed plants in system will be recorded and documented
The Renewable Energy Guarantee of Origin (YEK-G) System and the Organized YEK-G Market to enable electricity producers to prove the source of renewables under Turkey's Energy Exchange Istanbul (EXIST) launched for contracts.
Turkey's Energy and Natural Resources Minister, Fatih Donmez, lauded the new certification system for helping support and increase the country’s clean energy power during the market’s opening ceremony on Monday.
Turkey's renewable capacity grew steadily, particularly over the last few years, to currently account for about 45% of the country's total electricity generation.
Each 1 megawatt-hour of renewable energy supplied to the network by the licensed generation facilities in the system will be recorded and documented.
According to EXIST, participation in the YEK-G System will be on a voluntary basis.
Through the YEK-G renewable energy accreditation, in the form of an identity card, the energy of final consumers will show any renewable energy used.
The system will ensure that supply and distribution companies will be able to verify renewable energy in their portfolio within the scope of their obligations.
Consumers, likewise, will be able to obtain information about the energy sources they purchase with the option to choose renewables to contribute to environmental protection.
Donmez confirmed that 100 participants signed up to the system by June 21.
"These participants registered 127 renewable energy power plants in the system. Fifty-three participants have an electricity generation license while the rest have an electricity supply license," he said, adding that certification for 5.2 terawatt-hours of renewable electricity had been set up by June 21.
EXIST's General Manager Ahmet Turkoglu said that renewable energy certificates became accessible to both corporate organizations and individual consumers with the YEK-G System developed by EXIST using blockchain technology.
"Our goal with the YEK-G System is to expand the use of renewable energy sources in electricity produced and consumed, create a new source for our industry and contribute to the protection of the environment," Turkoglu added.