Riyadh, Saudi Arabia — According to Bloomberg, Saudi Arabia’s ACWA Power is close to finalizing a major deal with Turkey to build two solar power plants with a combined capacity of 2 gigawatts.
The projects will be located in Turkey’s Karaman and Sivas provinces. Turkey’s Energy Minister confirmed that both sides are also discussing 3 gigawatts of renewable energy projects.
ACWA Power Turkey solar deal signals deepening energy ties
The Minister stated that the ACWA Power deal will secure Turkey’s lowest electricity purchase price. Pricing details have not been shared.
This project reflects Turkey’s efforts to expand renewable energy capacity to 120 gigawatts by 2035. It also supports Turkey’s strategy to strengthen economic partnerships with Gulf countries, especially in the energy sector.
ACWA Power’s global expansion aligns with Saudi Arabia’s goal of growing its renewable energy footprint and promoting sustainable infrastructure worldwide.
The 2 gigawatt project marks a key milestone for both countries as they boost cooperation in solar development and clean energy investments.
The Saudi Standard’s View: Regional Energy Cooperation Drives Renewable Growth
ACWA Power’s expansion into Turkey shows the strategic importance of Gulf-Turkey partnerships in the global energy transition. As both nations face rising energy demand, projects like this provide shared benefits, including economic diversification, technology transfer, and emissions reductions.
The record-low electricity pricing highlights how competitive renewable projects are reshaping global markets. For Saudi Arabia, supporting regional renewable growth aligns with Vision 2030 while boosting the Kingdom’s role in international energy diplomacy.
Such agreements show the Gulf’s ability to export energy expertise and investment capital. Saudi companies like ACWA Power are becoming key players in the global clean energy sector. At the same time, Turkey’s success in attracting large-scale solar projects strengthens its energy security and renewable manufacturing.
Long-term success depends on stable policies, investment in local expertise, and scalable renewable solutions across both markets. Strengthening government coordination and using joint financing tools will be critical to unlocking the full potential of these efforts.
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