Additional funding needed to support reserve projects
As a result of the currency depreciation, current funding commitments will not enable GET FiT to fully achieve several of its key output indicators including MW, GWh and emission reductions. In order to fully achieve the overarching targets additional funding will be needed.
The figure below illustrates the allocation of the current GET FiT premium budget. It also estimates the additional funding needed to support all reserve list projects, assuming full utilization of the current budget. These estimates are highly uncertain due to the risk of projects not materializing. Notably, should one or more projects within the existing allocation drop out, the reserve list project may be supported (at least partially) within the existing budget.
Figure 11 - While some funds are expected to be available for reserves list projects, additional funding is needed
to provide full support. Provided that these and the current portfolio fully materializes, it is possible to achieve
original GET FiT targets.
The currently available funding would allow the program to achieve support for up to approximately 157 MW of installed capacity and 769 GWh of renewable energy production per year. Combined with timely implementation of the portfolio, this amount of installed capacity is expected to allow for full utilization of the funding commitments by 2023. Moreover, if additional funds are provided for reserve list projects, the program could potentially approach the original 170 MW capacity target, and annual production of more than 800 GWh. However, this also depends on the successful implementation of projects already being supported.