Saudi Arabia Backs Turkey’s Rapid Renewable Energy Buildout
Turkey and Saudi Arabia have announced ambitious plans to cooperate on renewable energy, as both countries aim to deploy vast amounts of clean power. Saudi Arabia has already invested heavily in Turkey’s solar power sector and aims to deepen its energy partnership with Turkey. Meanwhile, Turkey is also continuing to expand its oil and gas production and discussing the potential for new energy…
Turkey and Saudi Arabia are working together to rapidly expand renewable energy capacity in Turkey, with the aim of becoming a significant energy hub between the Middle East and Europe. Saudi Arabia plans to invest $2 billion in constructing two solar farms in Turkey, capable of meeting the electricity needs of 2.1 million households.
This investment brings Turkey's planned renewable energy capacity to 5 GW, quadrupling the country's installed electricity capacity from 32,000 megawatts to 126,000 megawatts over the past 24 years. Turkey is also expected to double domestic natural gas production in the Black Sea by 2026 and quadruple it by 2028. The government aims for 47% of Turkey's electricity to be generated from renewable sources by the end of the decade, with solar power expected to become the largest source by the end of the year.
Turkey currently relies heavily on coal, which contributes around 34% of its electricity, but the government is focusing on greater energy diversification.
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