A major solar energy project between Türkiye and Saudi Arabia's Acwa will begin commercial operations in early 2028, Türkiye's Energy and Natural Resources Minister Alparslan Bayraktar said Friday.
"We will lay the foundations of these projects within this year," Bayraktar said during a signing ceremony in Istanbul for the Sivas and Taseli solar power plant projects.
Bayraktar described the project as one of the largest foreign direct investments in Türkiye's energy sector, adding that it would allow the country to secure electricity purchases at the lowest price to date.
"In the second phase of the 5,000-megawatt agreement, an additional 3,000 megawatts of solar and wind power plant investments will be carried out," he said.
An investment agreement for the Sivas and Taseli solar projects was signed between Türkiye's Energy and Natural Resources Ministry and Acwa, while a power purchase agreement was concluded between Turkish Electricity Generation Corporation (EUAS) and the Saudi company Acwa.
- 'Armenia could also become part of the green corridor initiative'
Speaking to reporters after the ceremony, Bayraktar emphasized the importance of localization in large-scale energy investments.
"Our target is for 50% of the roughly $2 billion investment to be realized in Türkiye. Even in a project of this scale, we are not giving up on our localization goal," Bayraktar said.
He added that international financial institutions have shown interest in financing the project, citing the European Bank for Reconstruction and Development and the International Finance Corporation.
Responding to a question about a newly signed natural gas supply agreement with Azerbaijan, Bayraktar said Azerbaijan and its state energy company SOCAR have long been key suppliers to Türkiye, and that the latest deal will ensure the continuation of energy trade beyond 2030.
Energy cooperation between the two countries is not limited to natural gas, he said, pointing to a planned "green corridor" project involving Azerbaijan, Georgia, Türkiye and Bulgaria.
The project aims to export electricity generated from renewable sources, particularly in Nakhchivan, to Türkiye and Europe.
"We have already signed the initial agreements. We aim to move the project to the next phase at the Southern Gas Corridor meeting in early March," he said.
Asked about potential energy cooperation within the normalization process between Azerbaijan and Armenia, Bayraktar said Armenia could also become part of the green corridor initiative.
"Armenia can of course be part of this," he said. "We support normalization in this sense. When we speak of normalization, we also mean the normalization of economic relations."
"We can develop cooperation in the field of energy as well. There may be good opportunities there. I hope this process will move forward in a way that benefits everyone," he added.
By Firdevs Yuksel and Handan Kazanci
Anadolu Agency
energy@aa.com.tr
