Saudi Arabia, Turkiye Sign Major Renewable Energy Agreement

RIYADH: Saudi Arabia and Turkiye have signed an agreement to develop large-scale renewable energy power plant projects, marking a key step in strengthening bilateral cooperation in the energy sector. The agreement was signed during the official visit of Turkish President Recep Tayyip Erdogan to the Kingdom, with Saudi Energy Minister Prince Abdulaziz bin Salman and Turkish Energy and Natural Resources Minister Alparslan Bayraktar representing their respective countries. The deal focuses on cooperation in renewable energy and green technologies and includes the development of solar power plants in Turkiye with a total capacity of up to 5,000 megawatts. The first phase will see two projects in Sivas and Karaman with a combined capacity of 2,000 MW, followed by a second phase adding a further 3,000 MW. Valued at around $2 billion, the first-phase projects are expected to supply electricity to more than two million Turkish households, with power purchased by a Turkish state-owned company under a 30-year agreement. Both sides said the partnership reflects growing investment ties and a shared commitment to sustainable, low-carbon development.