Saudi ACWA Power to Invest in 2,000 Megawatt Solar Energy Projects in Turkey

Giant Solar Hubs in Sivas and Karaman A strategic agreement signed between the Turkish Ministry of Energy and Natural Resources (ETKB) and the Saudi Arabian state-owned energy company ACWA Power is set to provide a massive boost to Turkey's renewable energy capacity.
Under the agreement, ACWA Power will construct two separate solar power plants, each with a capacity of 1,000 megawatts (MW), in the provinces of Sivas and Karaman, totaling 2,000 MW.
This major investment is projected to fully meet the annual electricity needs of approximately 2.1 million households using solar energy.
Low-Cost Electricity and 25-Year Purchase Guarantee According to the framework approved by the Energy Market Regulatory Authority (EPDK), a 25-year purchase guarantee has been provided for the electricity produced by these plants.
The contract, described as one of Turkey's lowest-cost electricity supply agreements to date, covers a total projection of 30 years.
The determined price tariff has been specifically structured to apply for the first five years of the project.
50 Percent Local Content Requirement and Investment Timeline In line with Turkey's strategy to localize energy technologies, a requirement has been set for at least 50 percent local production components in the solar panels and technical equipment used in the plants.
According to the project schedule, groundbreaking for the plants in both provinces is planned for 2026.
The facilities are aimed to reach full capacity and begin supplying electricity to the national grid by the beginning of 2028.
First Step Toward a 5,000 Megawatt Strategic Goal This investment represents the first concrete phase of a total 5,000-megawatt renewable energy cooperation agreement signed between Turkey and Saudi Arabia.
Following this 2,000-megawatt project implemented with ACWA Power, new technical studies are expected to begin for an additional 3,000 megawatts of solar and wind energy investments in the second phase.