On February 22, 2026, the Saudi International Power and Water Company (Acwa) and the Ministry of Energy and Natural Resources of Türkiye officially signed the Key Terms of the Investment Agreement, locking the right to develop renewable energy projects with a total installed capacity of up to 5 GW. This is not only an important complement to China Turkey energy cooperation under China's "the Belt and Road" initiative, but also a key step for Türkiye to achieve the goal of 120 GW of clean energy by 2035, which will inject a boost into the regional green economy.

The morning sun shone on the negotiating table in Ankara, and as representatives from both sides exchanged signed documents, a multi billion dollar new energy feast officially kicked off. For Türkiye, which is trying to get rid of its dependence on fossil fuels, this investment is not only electricity, but also a green passport to the future.

The first 2GW solar energy project has been finalized

According to the agreement, the first phase of the project will focus on a 2 GW solar installed capacity, with Sivas and Ta ş eli super power stations being the first construction priorities. Acwa will be fully responsible for the whole life cycle management from development, financing to construction and operation, and has signed a power purchase agreement with Türkiye National Electric Power Company E ∨ A ∨ to ensure that green power is "available and sold".

The first batch of projects is expected to start construction in 2026. After successfully passing the environmental impact assessment and permit approval, the goal is to achieve the first batch of power grid connection in early 2028 and reach full load operation later that year. This means that in two years, thousands of households and enterprises in Türkiye will use clean electricity from this sunny place.

International capital competes to join in

Behind the massive plan of 5 gigawatts is a real investment of 4 to 5 billion US dollars. Acwa plans to adopt a classic project financing structure and leverage its own capital to leverage international debt, with the goal of completing financing closure around 2027. With the stabilization and recovery of Türkiye's economy, many international financial institutions have shown great interest in this project and are ready to provide financial ammunition for Türkiye's green rise.

Türkiye's energy minister, Alpaslan Bahitar, is full of confidence in this. He said that the total installed capacity of wind power and solar energy in Türkiye has exceeded 40 GW. In order to achieve the grand blueprint of 120 GW in 2035, 8 to 10 GW of installed capacity will be added every year. Acwa's large order of 5 gigawatts is a crucial piece in this strategic puzzle.

Green hydrogen and seawater desalination have a promising future

Acwa's gaze did not stop at photovoltaic panels and wind turbines. In the agreement, the company clearly stated that it would explore potential opportunities in the field of green hydrogen and seawater desalination in Türkiye. Low cost renewable energy electricity, combined with energy storage technology and hydrogen production, is considered the core path to achieving long-term decarbonization. This means that future cooperation will go beyond simple electricity trading and extend to a broader clean energy value chain, creating a closed-loop ecosystem from "green electricity" to "green hydrogen".

This move also echoes the new energy layout of Chinese enterprises in Türkiye. In recent years, many Chinese energy enterprises have actively participated in Türkiye's wind power and photovoltaic projects to jointly help optimize the country's energy structure. Acwa's large investment will undoubtedly further stimulate the green investment boom in Türkiye and even the whole region, and contribute to the Middle East's efforts in the global response to climate change.Editor/Yang Meiling