Saudi Arabia and Turkey Sign Renewable Energy Investment Agreement, Saudi Arabia Invests $2 Billion to Build 5GW Wind and Solar Projects in Turkey

On February 3 local time, Turkey and Saudi Arabia officially signed an intergovernmental renewable energy investment cooperation agreement in Riyadh, the capital of Saudi Arabia, with relevant details released by CCTV News citing official sources.

According to the agreement, Saudi Arabia will invest approximately $2 billion to develop solar and wind power projects in Turkey with a total installed capacity of 5,000 megawatts. The projects will be implemented by Saudi enterprises, covering the entire construction and operation process within Turkey.

The project will be carried out in phases, with the first phase prioritizing central regions of Turkey. Plans include constructing solar power stations with a total installed capacity of about 2,000 megawatts in Sivas and Karaman provinces, marking the initial deployment of photovoltaic clean energy capacity.

This cooperation represents a major practical collaboration between Turkey and Saudi Arabia in the energy sector. It not only supports Turkey in optimizing its energy structure and expanding its renewable energy capacity but also promotes the global expansion of Saudi energy investments, deepening industrial synergy and mutual benefits in the new energy field between the two countries.