RES project investors are calling for an upward revision of fixed tariffs secured at previous auctions as a result of higher costs impacting their business plans.

Costlier prices for equipment and building materials, such as steel, as well as higher lending rates, have exceeded initial budget estimates of investors, making development of their projects extremely difficult, and, in some cases, impossible.

The call by investors for higher RES tariffs has yet to be officially expressed by any RES association.

According to sources, the energy ministry is well aware of the issue and considers the call by investors for higher tariffs a fair request. Officials at the ministry are believed to be working on a formula that would resolve the problem.

RES tariffs were recently increased in France and Portugal after officials determined their respective national green energy targets were in danger under the current market conditions.