Turkey and ACWA Power Announce $2 Billion Solar Energy Partnership

Strategic Energy Cooperation The Turkish Ministry of Energy and Natural Resources and Saudi Arabian energy giant ACWA Power have signed a comprehensive project agreement to increase Turkey's renewable energy capacity.
The solar power plants (SPP), with a total capacity of 2,000 megawatts (MW), will be established in the provinces of Sivas and Karaman, marking a critical step toward Turkey's energy independence goals.
$2 Billion Investment and 2028 Target The projects, which will provide a capital inflow of approximately $2 billion, are scheduled to begin their first energy production in 2028.
Minister of Energy and Natural Resources Alparslan Bayraktar announced that the purchase prices for the electricity produced under these projects will remain fixed for 25 years, with a total purchase period set at 30 years.
This long-term planning is considered strategically important for energy supply security and price stability.
Local Content and Household Access Great importance is being placed on the local content ratio in the projects' technological infrastructure.
Minister Bayraktar emphasized that at least 50 percent of the equipment and technology used in the facilities will be of domestic production.
Once fully operational, the facilities in Sivas and Karaman are expected to meet the annual electricity needs of approximately 2.1 million households.
Mohammad Abunayyan, Chairman of the Board of ACWA Power, expressed confidence in Turkey's energy potential and stated that they would continue to make sustainable investments at competitive prices.