F-cdm-pdd: Project design document form for cdm project activities version

b) Continuation of the current situation, i.e. Mut WPP is not built.
Sub-step 1b. Consistency with mandatory laws and regulations
Both alternatives are (building or not building the project activity) in compliance with the following identified applicable mandatory laws and regulations:
(1) Electricity Market Law²⁴

(2) Law on Utilization of Renewable Energy Resources for the Purpose of Generating Electricity Energy²⁵

(3) Environment Law²⁶
Table : Project Implementation Schedule

Date (DD/MM/YYYY)	Activity
02/01/2013	Board Decision Date
05/02/2013	“EIA is not Required” decision for 50 MW  (16*3mw+1*2mw)
27/03/2013	Issuance of the License
29/07/2013	Agreement with Carbon consultant (Lifenerji)
23/08/2013	Local Stakeholder Meeting
25/10/2013	Approval letter of “EIA is not required decision” by Provincial Directorate of Environment and Urbanism for 52.8 MWm/50 MWe (16*3,3MW) capacity.
28/03/2014	Loan Proposal Date
17/04/2014	Assessment of the Energy production of the Proposed Mut wind farm
29/05/2014	Notice to Proceed of the Agreement with Equipment provider (project start date)
01/06/2014	Date for start of construction
01/07/2015	Planned start date of operation

According to Turkish regulations, to get necessary permits for further project implementation, license issued by EMRA is required. Hence, issuance of license cannot be considered as ‘Project Start Date’ but a prerequisite to proceed for further project development activities. Notice to proceed date of electromechanical equipment contract is set to be project starting 29.05.2014. From above Implementation Schedule it can be seen that Mut after having license started to analysis of VER and decided to get consultancy for VER development, much before planned construction starting date.

Aforementioned project implementation schedule shows us that Mut started to consideration of VER from the beginning of the project implementation and VER Revenue has decisive impact on decision of proceeding to the project.
In the following, the investment analysis is applied to clearly demonstrate that the project activity is unlikely to be financially/economically attractive without the revenue from the sale of VERs.