ACWA Power Will Sign MoU With Turkey of 3 GW in Turkey By November 2026

Saudi Gulf News: Acwa Power is planning to sign an MoU of 3 Gigawatt (GW) in Turkey by November 2026. It is reported in Bloomberg by citing Abid Malik who is president of Acwa Power in Central Asia. It is expected that the construction work for renewable energy project will start in first or second quarter of 2027 in Turkey.

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The electricity generation will start in mid of 2028. Public Investment Find (PIF) of Saudi Arabia has 44% share in Acwa Power. Company will also develop a gas power plant. Steam will be produced by gas. That steam will run gas turbine and generator will run from gas turbine in order to produce electricity.

Economic Impact of This Project:

The economic impact of this project is very important for turkey. It will not only fulfill energy requirements of turkey but also impact a great role in Turkish economy.

• Foreign Direct Investment: This project will bring a huge amount of investments in turkey. The trust of international investor will increase through this project as Saudi Arabia's Public Investment Fund (PIF) has 44% share. So it will make a smooth path for investment in future.

• Jobs Opportunities: When first phase of construction will start in 2027, it will generate thousands of job for local engineers, technical experts, and labours. The permanent staff is also required for Operation and Maintenance (O & M) of this renewable energy plant. 

• Reduction of Energy Import: Turkey import a large quantity of coal and gas. This 3 GW project will not only reduce energy import but also reduce trade deficit of country.

• Environmental Benefit and Green Energy: It is preferred to those countries who use renewable energy resources internationally. This project will help turkey to reduce carbon emissions, so it has easy access in European markets and very less carbon taxes.

Food for Thought: This 3 Giga Watt (GW) renewable energy project is same like 3 big gas fired power plant. It is not just an ordinary investment but it will boost Turkish economy.

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