Saudi Arabia and the Republic of Türkiye have entered into an intergovernmental agreement covering renewable energy projects. The agreement was executed by the Ministry of Energy of Saudi Arabia and the Ministry of Energy and Natural Resources of Türkiye. It focuses on expanding bilateral cooperation in renewable energy and green technologies, while supporting the development of projects aligned with both countries’ energy transition priorities and strategies.
The agreement provides for the development of solar projects in Türkiye with a total installed capacity of up to 5,000 MW, to be implemented in two phases. Phase one will involve 2,000 MW through two solar projects located in Sivas and Karaman. Phase two will add a further 3,000 MW to be developed under frameworks jointly agreed by both the countries.
Furthermore, the first phase projects are reported to offer the most competitive electricity sales prices among renewable energy plants developed in Türkiye. They represent an investment of around $2 billion and are expected to supply electricity to more than two million households. The generated power will be procured by a Turkish state-owned company under a 30-year arrangement. Additionally, the projects will prioritise the use of local equipment and service providers during implementation.
