RIYADH: Saudi Arabia and Türkiye have signed an agreement to cooperate on electricity projects, building on a renewable energy deal that provides 5,000 megawatts of capacity in Türkiye.
Signed on the sidelines of the 31st UN Climate Change Conference, or COP31, in Antalya, the memorandum of understanding builds on an earlier agreement on renewable energy cooperation signed by the two governments on Feb. 3, which entered into force on Oct. 21, the Saudi Press Agency reported.
Türkiye’s electricity consumption is expected to increase to 510.5 terawatt-hours by 2035, up from 364.8 terawatt-hours in 2025, according to the country’s Ministry of Energy and Natural Resources.
The ministry said installed electricity capacity had reached 127,355 MW by the end of September 2026.
Against this backdrop, Türkiye aims to increase its combined installed solar and wind capacity to 120 gigawatts by 2035, up from around 30 GW when the target was announced in 2024. The plan is expected to require substantial investment in renewable generation and supporting grid infrastructure.
The newly released SPA statement said: “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.”
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