Key facts
- Saudi Arabia and Turkey signed an agreement to add 3 GW of renewable energy capacity in Turkey.
- This brings Turkey's total planned renewable capacity to 5 GW.
- Saudi Arabia will invest $2 billion in two solar farms in Turkey with a total capacity of 2 GW.
- Turkey has quadrupled its installed electricity capacity to 126,000 MW over the past 24 years.
- Turkey aims for 47% of its electricity to be produced from renewable sources by 2030.
- Turkey plans to offer at least 2 GW of wind and solar capacity through auctions annually.
Saudi Arabia and Turkey have announced a significant expansion of their cooperation in the renewable energy sector, with Saudi Arabia committing substantial investment to Turkey's clean power ambitions. Natural Resources Minister Alparslan Bayraktar announced that an agreement has been signed to add an additional 3 GW of renewable energy capacity in Turkey, bringing the country's total planned capacity to 5 GW.
Bayraktar highlighted Turkey's rapid energy development under President Recep Tayyip Erdogan, stating that the country has quadrupled its installed electricity capacity from 32,000 MW to 126,000 MW over the past 24 years. This expansion has positioned Turkey as having the third-largest installed electricity capacity and consumption in Europe. Alongside renewables, Turkey has also seen substantial growth in oil and natural gas production, supporting its goal of energy self-sufficiency.
Saudi Arabia's commitment includes a $2 billion investment in two solar farms in Turkey, with a combined capacity of 2 GW, expected to power 2.1 million households. These investments, to be financed externally, are seen as crucial direct foreign investment for Turkey's energy sector. The country is also actively pursuing new energy routes to establish itself as a major energy hub connecting the Middle East and Europe, particularly in light of ongoing geopolitical instability.
While hydropower remains Turkey's largest renewable source, wind and solar power are rapidly growing, with a target of 47% of electricity generation from renewables by 2030. The government is facilitating this growth through annual auctions for wind and solar capacity, aiming to offer at least 2 GW each year. Despite a heavy reliance on coal, Turkey's power sector emissions have been partially offset by renewable energy growth, and coal power is expected to peak soon as diversification efforts accelerate.