Minister of Energy and Natural Resources Alparslan Bayraktar announced that a new memorandum of understanding was signed with Saudi Arabia for cooperation in electricity projects.
AI-generated summary
The intergovernmental agreement signed between Türkiye and Saudi Arabia in Riyadh on February 3 came into force on October 21.
Minister of Energy and Natural Resources Alparslan Bayraktar stated that a Memorandum of Understanding on Cooperation in Electricity Projects was signed with Saudi Arabia and they created the framework for a total of 5 thousand megawatts of renewable energy projects to be developed in two stages by ACWA Power in Türkiye.
Bayraktar, in his post on the social media platform of US-based company
Noting that after the acceptance, they signed the Memorandum of Understanding on Cooperation in Electricity Projects in the presence of President Erdoğan, Bayraktar said:
"With the intergovernmental agreement we signed in Riyadh on February 3 and entered into force on October 21, we created the framework for a total of 5 thousand megawatts of renewable energy projects to be developed in two stages in our country by ACWA Power. We are pleased with the progress made in the solar energy projects of 2 thousand megawatts in Sivas and Karaman, which constitute the first phase. With the signature we signed in Antalya today, we are taking our work towards the realization of the additional capacity of 3 thousand megawatts, which we targeted in the second stage, to an advanced stage. This In this context, we envisage the development of wind energy power plants supported by high voltage direct current transmission infrastructure and battery energy storage systems. While increasing our renewable energy capacity, we are deepening our strategic energy cooperation with Saudi Arabia with these investments that will strengthen our network infrastructure and improve system flexibility. We will continue to transform the trust in Türkiye's energy transformation and investment environment into concrete projects.
AI outlook — possibilities, not facts
Acceleration of construction processes of 2 thousand megawatt solar energy projects in Sivas and Karaman.
Likely · Within months

Türkiye earned approximately $500 million in electricity export revenue between January 2025 and August 2026. Most of the sales went to Iraq and Syria. However, only one seventh of the country's capacity to sell electricity to its neighbors is being used.
Minister of Energy and Natural Resources Alparslan Bayraktar announced the National Energy 2040 plan at COP31, which aims to invest 300 billion dollars in Türkiye's energy sector by 2040 and increase its installed capacity to 281 gigawatts.

Ahmet Özkaya announced the strategies of increasing wind and solar capacity to 175 GW, offshore wind investments and national mining strategies within the scope of Türkiye's 2040 energy vision. Sector representatives emphasized energy supply security with carbon capture and storage projects.

Türkiye, Azerbaijan, Bulgaria and Georgia signed a strategic partnership agreement to increase clean energy transmission and regional supply security. The project aims to deliver clean electricity to European markets.
Türkiye, Azerbaijan, Bulgaria and Georgia signed a strategic partnership agreement for cross-border transmission and trade of electricity produced from clean energy sources. The project aims to contribute to Europe's energy supply security.

Minister of Energy Alparslan Bayraktar shared Türkiye's National Energy 2040 vision at the UEA meeting he attended at COP31 in Antalya; He announced a total capacity of 281 gigawatts, 175 gigawatts of renewable energy and an investment target of 300 billion dollars.