Turkish Energy Minister: Saudi Arabia will build solar farms worth $2 billion in Turkey

Saudi Arabia is investing $2 billion in Turkey to build solar farms with a total capacity of 2,000 megawatts. The Turkish energy minister announced this on Tuesday.

In a recent post on X, Bayraktar said that during the visit of Turkish President Tayyip Erdoan to Riyadh he and his Saudi counterpart Prince Abdulaziz bin Salman had signed a?agreement on renewable energy power plants projects.

According to the agreement, Saudi companies will build a solar power station in eastern province Sivas, and another one in central province Karaman, with a?total capacity of 2,000MW in the initial phase. Bayraktar added that the total power of the solar and wind plants that Saudi Arabian companies will construct, will reach 5,000MW.

"We consider these investments to be one of the most significant examples of direct foreign investment in our energy sector. They will be funded entirely by external financing." Bayraktar added that international financial institutions would also provide credit.

Bayraktar said that the solar power plants, worth $2 billion, will provide electricity to 2.1 million Turkish households. (Reporting and editing by Huseyin Haatsever, Can Sezer)

(source: Reuters)