Saudi Gulf News: A famous utility company Acwa Power has signed a deal with Ministry of Energy Turkey for a big solar power project. Below is the key points of this deal:
- First Phase: Two solar power plants will be installed of capacity 2000 MW in Sivas and Karaman area of Turkey. $2 billion investment will be done on this project.
- Electricity Cost: The cost of electricity in Karaman is €0.0199/kWh which is very low price in Turkish history.
- Benefit: 2.1 millions houses will use this electricity from this project.
- Local Content: 50% local firms and services will be used for this project. Construction work will start in 2027 and electricity supply will be done in 2028.
- Next Phase: The next phase will be 3000 MW (Solar and Wind) will be started. So the total capacity will be 5000 MW.
Key Details of This Project:
| Feature | Details |
| Investor | ACWA Power (Saudi Arabia) |
| Main Locations | Sivas & Karaman, Turkey |
| Total Investment | ~$2 Billion (Phase 1) |
| Capacity | 2,000 MW (Phase 1) |
| Tariff (Sivas) | €0.0235 per kWh |
| Tariff (Karaman) | €0.0199 per kWh (Record Low) |
| Agreement Duration | 25-30 Years |
| Local Content Requirement | 50% |
| Operational Date | 2028 |
| Beneficiaries | 2.1 Million Households |
Analysis and Impact of This Project:
- Energy Revolution: Turkey has a goal to achieve 120000 MW solar and wind power by 2035. This deal will lessen its imports of oil and gas. Turkey will be able to provide cheap electricity to its citizens.
- Record Breaking Low Tarrif: €0.0199 per unit is a benchmark for Karaman, Turkey. Local industry will take benefit from it. Turkey will be able to tackle inflation.
- Economic and Strategic Ties: This project is a key symbol of deep relationship between Turkey and Saudi Arabia. This project is aligned with Saudi Arabia's Vision 2030 and Turkey's Vision 2053 of net zero emission. A state owned Turkish power purchasing company will purchase the power which is generated from plants.
- Local Job Creation: 50% localization means that local factories, and labour will be able to work in this project so it will strengthen Turkish economy.
- Environmental Impact: Turkey produce 33% of its power from coal power plant. This 2000 MW solar project deal will play an important role in less carbon emission.
2035 yılında sadece güneş ve rüzgârda 120 bin megavat kurulu güce ulaşma vizyonumuzu hayata geçirmek için uluslararası stratejik ortaklıkları somut yatırımlara dönüştürüyor, ülkemizin yenilenebilir enerjideki potansiyelini en üst seviyeye taşıyoruz.
— Alparslan Bayraktar (@aBayraktar1) February 20, 2026
Bugün Suudi ACWA şirketiyle… pic.twitter.com/fbMSHUxFYo
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