RES projects will be entitled to extensions for tariff reference prices obtained either administratively or through auctions, but, in exchange, investors behind these projects will need to accept lower tariffs, according to a legislative revision submitted to Parliament.

RES projects for which investors have secured tariff reference prices through auctions will be entitled to extensions of up to 12 months.

In order to secure this additional time, investors will need to have submitted procurement agreements concerning equipment for their projects to RAAEY, the Regulatory Authority for Waste, Energy and Water, one month before project launch deadlines.

Investors behind RES projects that have obtained tariff reference prices administratively will be given three additional months to submit declarations of readiness or activation requests to the operator.

An August 31, 2024 deadline included in a previous draft of the now-finalized terms has been extended to November 31, 2024.