On the sidelines of the participation of Minister of Energy and Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, in the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31), held in Antalya, Republic of Türkiye, a Memorandum of Understanding on Cooperation in Electricity Projects was signed between the Government of the Kingdom of Saudi Arabia and the Government of the Republic of Türkiye, in the presence of President Recep Tayyip Erdoğan of the Republic of Türkiye.
The Memorandum of Understanding was signed by Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, on behalf of the Kingdom of Saudi Arabia, and Minister of Energy and Natural Resources Alparslan Bayraktar, on behalf of the Republic of Türkiye.
The Memorandum builds on the Agreement between the Government of the Kingdom of Saudi Arabia and the Government of the Republic of Türkiye on Cooperation in the Field of Renewable Energy, signed on February 3, 2026, which entered into force on October 21, 2026.
The Agreement provides for the development of renewable energy projects with a total installed capacity of 5,000 MWe in two phases, to be implemented by ACWA Power, the investor company designated by the Kingdom of Saudi Arabia. The first phase envisages 2,000 MWe, while the second phase envisages an additional 3,000 MWe of renewable energy capacity.
Progress has been achieved in the implementation of the first-phase projects, while efforts towards the realization of the second-phase projects have reached an advanced stage.
The second phase envisages the development of wind power plants, supported by high-voltage direct current (HVDC) transmission infrastructure and battery energy storage systems.
These investments are expected to contribute to strengthening Türkiye’s renewable energy capacity, enhancing grid infrastructure and flexibility, and further deepening the strategic energy and investment partnership between the Kingdom of Saudi Arabia and the Republic of Türkiye.
Source: Riyadh Daily