Newsletter-21

312 NEWSLETTER 2016 Market Regulatory Authority in order to obtain a license. Pursuant to Article 13 of the Regulation, the license term for RERAs within the context of ACUDs and ACDPs, is 30 years, and at the end of this term, general procedures will be applied in accordance with general terms of the related institutions in which the right of use is obtained. The construction period of electricity generation facilities and facility capacity to be commissioned is stated in the work plan that is presented and accepted by the General Directorate. The construction period of the electricity generation facility will be stated in the Tender Specification, provided that such period does not exceed 36 months. Sale of Electrical Energy Article 14 of the Regulation contains regulations as to the sale of electrical energy generated in RERAs. The generated electricity in RERAs will be subject to and sold under the Regulation on Cer- tification and Support of Renewable Energy Resources (“YEKDEM Regulation”) for the period determined in the Specifications, and at the prices determined in the RERA Rights of Use Agreements. The purchase period defined in the Tender Specifications starts from the execution of the Right of Use Agreement. Additional domestic prod- uct incentives under Law No. 5346 is not applicable to the electricity generation facilities constructed under the Right of Use Agreements. No term extension may be applied except for force majeure events. Price increases cannot be applied for any reason. Research and Development (“R&D”) Operations Additionally, in the Regulation, R&D and Certification regula- tions, with regard to the legal entities producing domestic equipment to be used in the electricity generation facility based on renewable en- ergy resources, and/or to the legal entities applying within the context of a RERA Right of Use Agreement are included. Force Majeure Within the context of a RERA Right of Use Agreement, force majeure events are limited within Article 17 of the Regulation, and in