Türkiye and Saudi Arabia sign agreement to build 2,000 MW solar power plants
By Global Infrastructure Sherpa · Feb 21, 2026
Türkiye and Saudi Arabia have signed an agreement to build solar power plants with a combined capacity of 2,000 megawatts, supplying electricity to over 2 million homes. Construction begins this year, with completion expected by 2028.
Deal Analysis
Türkiye and Saudi Arabia have announced an agreement to jointly develop 2,000 MW of solar power capacity in Türkiye, with construction slated to begin in 2026 and completion targeted for 2028. This development project aims to supply electricity to over 2 million homes, representing a significant investment in Türkiye's renewable energy infrastructure. The partnership between Türkiye and Saudi Arabia underscores a growing trend of international collaboration in the renewable energy sector, leveraging the financial resources and expertise of both nations to advance sustainable energy goals.
The scale of the project, at 2,000 MW, positions it as a major undertaking within Türkiye's energy landscape. The involvement of both Türkiye and Saudi Arabia as developers highlights the strategic importance of this project for both nations. The project's focus on solar energy aligns with global efforts to transition towards cleaner energy sources and reduce reliance on fossil fuels. This deal could also catalyze further investment in renewable energy projects within Türkiye and the broader region.
- 2,000 MW solar power development project.
- Joint development between Türkiye and Saudi Arabia.
- Aims to supply electricity to over 2 million homes in Türkiye.
- Construction slated to begin in 2026, with completion by 2028.
Market Context: The global solar energy market is experiencing rapid growth, driven by declining costs and increasing demand for clean energy. Türkiye is actively pursuing renewable energy projects to diversify its energy mix and reduce its carbon footprint. This deal reflects the increasing attractiveness of Türkiye as a destination for renewable energy investment.
Source Intelligence
KEY DETAILS
The signing ceremony took place in Istanbul and follows a $2 billion intergovernmental energy agreement reached during President Recep Tayyip Erdoğan’s visit to Riyadh on February 3.
Construction is expected to begin this year.
The localization rate will be at least 50 percent in both Sivas and the Taşeli region.
The second phase of the broader 5,000-megawatt agreement will include an additional 3,000 megawatts of solar and wind power investments.
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Capacity
the combined installed capacity of the projects will reach 2,000 megawatts.
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Location
develop two solar power plants in the central provinces of Sivas and Karaman.
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PPA Details
During the ceremony, a power purchase agreement was also signed between Turkish Electricity Generation Corporation (EÜAŞ) and ACWA Power.
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Signing
Türkiye and Saudi Arabia have signed a major agreement to build large-scale solar power plants
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COD
both plants are planned to enter commercial operation by early 2028
PARTIES MENTIONED IN SOURCE
A
ACWA Power
developer
"Saudi-based energy company ACWA Power will develop two solar power plants"
T
Türkiye’s Energy and Natural Resources Ministry
developer
"Türkiye’s Energy and Natural Resources Ministry and Saudi-based energy company ACWA Power will develop two solar power plants"
T
Turkish Electricity Generation Corporation (EÜAŞ)
buyer
"During the ceremony, a power purchase agreement was also signed between Turkish Electricity Generation Corporation (EÜAŞ) and ACWA Power."
medium quality
Enriched Feb 21, 2026
Market Context
This deal is part of the Solar sector in Türkiye.
1 of 452 Solar deals tracked this month · Updated daily
Global Infrastructure Sherpa