Erdogan approves Saudi agreement on renewable projects
QNAAnkara Turkish President Recep Tayyip Erdogan approved today an intergovernmental agreement establishing a framework for cooperation between Turkiye and Saudi Arabia on the deve...
Turkish President Recep Tayyip Erdogan has endorsed a new intergovernmental agreement with Saudi Arabia aimed at promoting renewable energy cooperation. The agreement, signed on February 3, outlines a framework for developing renewable energy projects and green technologies between the two nations. It was officially published in the Turkish Official Gazette following its approval by Erdogan.
The primary objective of the agreement is to enhance collaboration in renewable energy, green technologies, and innovation, with a focus on large-scale projects that will bolster Turkey's energy security and contribute to its green transition goals. The first phase of the projects involves constructing two 1,000-megawatt solar power plants in Sivas and Taseli provinces. The second phase of the agreement includes the development of additional renewable energy projects, with a combined installed capacity of 3,000 megawatts.
Under the terms of the agreement, each investment project will be valid for 30 years from the commencement of commercial operations at the respective power plant, with the option for an additional two-year period for facility decommissioning after the operating period concludes.
Written by urgent.news from Qatar Tribune Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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