In the presence of Turkish President Recep Tayyip Erdoğan, the two countries sign a memorandum of understanding to advance 5,000 megawatts of renewable energy projects, to be implemented in two phases by Saudi Arabia's ACWA Power.

Antalya | BETH

November 10, 2026

Saudi Arabia and Türkiye signed a memorandum of understanding (MoU) on cooperation in electricity projects, in the presence of Turkish President Recep Tayyip Erdoğan, on the sidelines of the 31st United Nations Climate Change Conference (COP31) in Antalya, Türkiye.

The MoU was signed by Prince Abdulaziz bin Salman bin Abdulaziz, Saudi Minister of Energy and Minister of Industry and Mineral Resources, and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar.

Projects with a Capacity of 5,000 Megawatts

The MoU builds on the renewable energy cooperation agreement signed between the two countries on February 3, 2026, which entered into force on October 21.

The agreement provides for the development of renewable electricity generation projects with a total capacity of 5,000 megawatts, to be implemented by Saudi Arabia's ACWA Power as the investor designated by the Kingdom.

The first phase comprises projects with a capacity of 2,000 megawatts, where implementation has already progressed. The second phase includes an additional 3,000 megawatts of projects, with implementation arrangements reaching advanced stages.

Wind Power and Energy Storage Technologies

The second phase includes the development of wind power plants supported by electricity transmission infrastructure using high-voltage direct current (HVDC) technology, alongside battery energy storage systems.

The projects are expected to increase renewable electricity generation capacity in Türkiye while developing and enhancing the resilience of its electricity grid.

BETH Analysis | Saudi Investment Beyond National Borders

The projects reflect the expansion of Saudi investment in international energy markets through the development of power generation facilities and electricity transmission and storage technologies.

The partnership will provide Türkiye with additional renewable electricity generation capacity while strengthening the presence of Saudi companies in energy infrastructure projects abroad.

The agreement's significance lies in advancing Saudi-Turkish cooperation from government-level understandings toward large-scale project implementation, strengthening the economic and investment interests of both countries.