Saudi-Turkish Solar Power Pact: A $2 Billion Green Investment

Saudi Arabia plans to invest $2 billion to construct two solar farms with a combined capacity of 2,000 MW in Turkey. The agreement, signed during Turkish President Erdogan's visit to Riyadh, marks significant foreign investment in Turkey's energy sector, intending to power 2.1 million households.

Saudi Arabia is set to bolster its green energy footprint by investing $2 billion in Turkey. This plan will see the construction of two solar farms with a total capacity of 2,000 MW, as announced by Turkey's Energy Minister, Alparslan Bayraktar.

The agreement was inked during Turkish President Tayyip Erdogan's visit to Riyadh, and involves the Turkish Energy Minister and his Saudi counterpart, Prince Abdulaziz bin Salman. The project aims to strengthen Turkey's energy infrastructure with funding from international financial institutions.

Besides the immediate 2,000 MW capacity, the total planned capacity, including future expansions to wind power, is expected to reach 5,000 MW. This initiative will supply electricity to 2.1 million Turkish households, marking a significant milestone in renewable energy collaborations.