Turkey and Saudi Arabia Sign $2B Solar Energy Deal, Begin 5GW Projects

Turkey and Saudi Arabia signed a $2 billion energy investment agreement.

“Türkiye signs $2B energy investment agreement with Saudi Arabia on solar energy projects Saudi companies to construct solar, wind power plants with capacity of 5,000 MW in Türkiye, with 2,000 MW solar power plant projects as 1st phase of investment, Türkiye's energy minister announces ISTANBUL Türkiye and Saudi Arabia signed an energy investment agreement Tuesday worth about $2 billion covering solar power projects in Türkiye, the Turkish energy minister announced”

Anadolu Ajansı

The projects have a total capacity of 5,000 megawatts, beginning with 2,000 MW.

Anadolu Ajansı

They will be fully financed through external funding with international support.

The solar power plants will meet the electricity needs of 2.1 million households.

The projects are a key step toward a 120,000 MW renewable capacity goal by 2035.

CNBC-e

Both nations emphasized mutual trust and strategic dedication.

Erdoğan told the Crown Prince Turkey is determined to elevate relations to a higher level.

“Türkiye and Saudi Arabia signed an energy agreement that covers an investment of about $2 billion (TL 87”

Daily Sabah

Renewable energy and defense emerged as core pillars of cooperation.

Both sides set a short-term target of $10 billion in bilateral trade.