Türkiye and Saudi Arabia-based ACWA Power are preparing to formalise the second phase of their 5 GW renewable energy partnership during COP31, scheduled to be held in Antalya later this year.
ACWA Power Chairman Mohammad Abunayyan said the upcoming agreement will cover the remaining 3 GW of capacity under a government-to-government framework between the two countries. The development follows the signing of the first phase, which includes 2 GW of solar projects in Türkiye’s central provinces of Sivas and Karaman.
Speaking at the signing ceremony in Istanbul for the Sivas and Taşeli solar power plants, Abunayyan stated that the next phase will include a mix of solar, wind and energy storage. The company is also evaluating the integration of storage solutions into the initial 2 GW solar portfolio.
First Phase Timeline and Execution
The first phase is part of a broader 5 GW cooperation framework announced during President Recep Tayyip Erdoğan’s visit to Saudi Arabia on 3 February.
Construction of the initial solar projects is expected to begin next year, subject to permits and environmental approvals. The first electricity from the 2 GW portfolio is targeted for early 2028, with full generation anticipated within the same year.
COP31 to Showcase Bilateral Cooperation
COP31 will be held from 9 to 20 November in Antalya, with a leaders’ summit expected in Istanbul. The conference is expected to bring together nearly 200 countries to focus on implementing the Paris Agreement, including emissions reduction targets, climate adaptation, climate finance and carbon market mechanisms.
Abunayyan indicated that signing the second phase at COP31 would reflect the strengthening clean energy partnership between Türkiye and Saudi Arabia.
Investment and Strategic Outlook
Key highlights of the 5 GW framework include:
- Total estimated investment of USD 4–5 billion
- Project finance structure combining developer equity and international debt
- Financial close targeted around 2027
- Competitive electricity tariffs with strong local contractor participation
Türkiye wants to increase its total solar and wind power capacity to about 120 GW by 2035. This will require adding almost 80 GW of new capacity. The ACWA partnership is positioned as an early step toward this target.
ACWA Power is looking into green hydrogen and desalination in addition to solar and wind. This could mean that the company will expand into more clean energy value chains.
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