In a significant step toward enhancing Türkiye's renewable energy capacity, the Ministry of Energy and Natural Resources of Türkiye and the Saudi Arabian ACWA Power signed a landmark agreement in Istanbul. The agreement, focused on large-scale investments in electricity generation, is expected to make substantial contributions to Türkiye's energy sector.
Under the agreement, solar and wind power plants with a combined installed capacity of up to 5,000 megawatts (MW) will be developed across Türkiye. The first phase will focus on the construction of solar power plants with a total capacity of 2,000 MW, to be located in the central Anatolian provinces of Sivas and Karaman.
Minister of Energy and Natural Resources Alparslan Bayraktar addressed the media following the signing ceremony for the Sivas and Taşeli Solar Power Plant Projects. The Minister highlighted the rapid increase in global electricity demand and underscored that Türkiye is experiencing similar growth. “The project we are signing today is crucial, as it will provide us with 2,000 megawatts of new renewable energy capacity," he stated.
Minister Bayraktar also emphasized that the investment represents one of the most significant foreign direct investments (FDI) in Türkiye's energy sector. As part of efforts to meet rising energy demand, he outlined plans to strengthen the country's energy infrastructure. Türkiye aims to reach a target of 120,000 MW in solar and wind energy capacity by 2035, supported by an estimated USD 30 billion investment in infrastructure development.
The renewable energy projects in Sivas and Taşeli, Bayraktar explained, are designed to provide affordable, reliable, and high-quality electricity, playing a key role in reducing Türkiye's electricity costs. Furthermore, he noted that international financial institutions have shown keen interest in the projects, with the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) signaling their support.
Construction of the solar power plants is expected to commence in 2027. The first phase is slated for completion by the end of that year, while the full projects are expected to be finalized in 2028 and 2029.