ANKARA: Saudi Arabia will invest $2 billion to build two solar power plants in Turkey with a total capacity of 2,000 MW, Turkey’s Energy Minister announced on Tuesday.
During Turkish President Tayyip Erdoğan’s visit to Riyadh, Turkish Energy Minister Alparslan Bayraktar and Saudi Prince Abdulaziz bin Salman signed an agreement on renewable energy power plant projects, Bayraktar said in a post on X.
Under the agreement, the Saudi company will build solar power plants with a total capacity of 2,000 MW in the eastern province of Sivas and central Karaman province in the first phase, Bayraktar said, adding that the total capacity of the solar and wind power plants to be built by the Saudi company will reach 5,000 MW.
“We consider these investments as one of the most important examples of foreign direct investment in our country’s energy sector. These funds will be fully financed through external funds. Credit will also be provided by international financial institutions,” Bayraktar said.
Bayraktar also said the $2 billion solar power plant will meet the electricity needs of 2.1 million Turkish households. (Reporting by Huseyin Hayatsever and Can Sezer; Editing by Nick Zieminski)
