Saudi Arabia, Turkiye sign electricity cooperation agreement to advance renewable energy projects
- Saudi Arabia and Türkiye have signed a memorandum of understanding to cooperate on electricity projects, enhancing their renewable energy collaboration.
- This agreement was signed during the 31st UN Climate Change Conference in Antalya and builds on a prior renewable energy deal effective from October 21, 2023.
- Türkiye's electricity consumption is projected to rise to 510.5 terawatt-hours by 2035, necessitating significant upgrades to its energy infrastructure.
- The agreement outlines the development of renewable energy projects totaling 5,000 megawatts, to be executed by ACWA Power in two phases: the first is 2,000 MW and the second is 3,000 MW.
- The second phase will focus on wind power plants, integrating high-voltage direct current transmission and battery energy storage systems to enhance grid capabilities.
- ACWA Power's existing investment in Türkiye includes a 927 MW power plant, which is expected to reduce carbon dioxide emissions by approximately 1.8 million tonnes annually.
