Minister of Energy and Natural Resources Bayraktar announced that an energy investment agreement worth 2 billion USD including solar energy projects has been signed with Saudi Arabia.
Minister of Energy and Natural Resources Alparslan Bayraktar announced that a $2 billion energy investment agreement was signed with Saudi Arabia within the framework of President Erdoğan's official visit, the first part of which includes 2 thousand megawatts of solar energy projects.
Minister Alparslan Bayraktar announced the agreement with a post on his X social network account.
Within the scope of the agreement signed with Saudi Arabia's Minister of Energy Abdulaziz bin Salman Al-Saud in Riyadh, the capital of Saudi Arabia, solar and wind power plants with a total capacity of 5,000 MW will be built by Saudi companies in Türkiye.
As the first phase of the agreement, solar power plant projects with a total capacity of 2,000 MW will be implemented in Sivas and Karaman.
Minister Bayraktar noted that all mentioned investments will be made through external financing and loans will be provided by international financial institutions.
“WILL MEET THE ELECTRICITY NEEDS OF 2.1 MILLION HOUSEHOLDS”
Minister of Energy Alparslan Bayraktar shared the following about the details of the agreement:
“Electricity will be purchased for 25 years from the power plant built in Karaman at a price of 1.995 euros per kilowatt hour and from the power plant built in Sivas at a price of 2.3415 euros per kilowatt hour. These prices will make the power plants stand out with the lowest electricity selling prices among the renewable energy plants built in Türkiye. In addition, the power plants will make a significant contribution to the service and electrical equipment of our country with a localization rate of 50%.
Solar power plants built with an investment of about 2 billion USD will meet the electricity needs of 2.1 million households.
These projects demonstrate confidence in Türkiye's investment environment and Türkiye's energy sector, being one of the most important steps taken towards the target of reaching 120,000 MW of solar and wind installed capacity by 2035 set by our President. May it benefit our country.”
