12/11/2026 04:05 AST
Saudi Arabia and Türkiye have signed an agreement to cooperate on electricity projects, building on a renewable energy deal that provides 5,000 megawatts of capacity in Türkiye.
Signed on the sidelines of the 31st UN Climate Change Conference, or COP31, in Antalya, the memorandum of understanding builds on an earlier agreement on renewable energy cooperation signed by the two governments on Feb. 3, which entered into force on Oct. 21, the Saudi Press Agency reported.
Türkiye's electricity demand set to rise
Türkiye's electricity consumption is expected to increase to 510.5 terawatt-hours by 2035, up from 364.8 terawatt-hours in 2025, according to the country's Ministry of Energy and Natural Resources.
The ministry said installed electricity capacity had reached 127,355 MW by the end of September 2026.
Against this backdrop, Türkiye aims to increase its combined installed solar and wind capacity to 120 gigawatts by 2035, up from around 30 GW when the target was announced in 2024. The plan is expected to require substantial investment in renewable generation and supporting grid infrastructure.
Agreement outlines 5,000 MW projects
The newly released SPA statement said: "The Agreement provides for the development of renewable energy projects with a total installed capacity of 5,000 MWe in two phases, to be implemented by ACWA Power, the investor company designated by the Kingdom of Saudi Arabia."
It added: "The first phase envisages 2,000 MWe, while the second phase envisages an additional 3,000 MWe of renewable energy capacity."
Progress has been made on the first-phase projects, while preparations for the second phase have reached an advanced stage, according to the announcement.
The second phase will include wind power plants supported by high-voltage direct current transmission infrastructure and battery energy storage systems.
The investments are expected to expand Türkiye's renewable energy capacity, strengthen its electricity grid and improve its flexibility, while deepening energy and investment ties between the two countries.
Acwa's existing investment in Türkiye
Acwa's existing presence in Türkiye includes the 927 MW Kirikkale independent power plant, its first investment in the country.
Valued at $930 million, the facility offsets approximately 1.8 million tonnes of carbon dioxide emissions annually, according to the company.
Arab News
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