EconomyLens.com
No Result
View All Result
Friday, February 20, 2026
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Business

Turkey, Saudi sign major solar power deal

Andrew Murphy by Andrew Murphy
February 20, 2026
in Business
Reading Time: 5 mins read
A A
0
19
SHARES
236
VIEWS
Share on FacebookShare on Twitter

Turkey and Saudi Arabia boost energy cooperation . ©AFP

Istanbul (AFP) – Saudi Arabia will help Turkey build solar plants capable of powering more than two million homes, under a deal the two countries signed Friday that aims to deepen energy cooperation between the key regional players. The signing ceremony at an Ottoman-era palace by the waters of the Bosphorus Strait in Istanbul followed a $2-billion inter-governmental energy agreement between the two countries during a landmark visit by Turkish President Recep Tayyip Erdogan to Riyadh on February 3.

Related

Airbus planning record commercial aircraft deliveries in 2026

Walmart outlines big AI ambitions as it reports mixed results

Glencore still open to ‘mega-miner’ deal after Rio collapse

Germany’s Merz casts doubt on European fighter jet plan

Greek taxis kick off two-day strike against private operators

Turkey is preparing to host the United Nations’ COP31 climate summit on its Mediterranean coast later this year, with Australia leading the negotiations. Ties between Turkey and Saudi Arabia have steadily improved in recent years after collapsing in the wake of the killing of journalist Jamal Khashoggi by Saudi agents inside the kingdom’s consulate in Istanbul in October 2018. The two countries now cooperate on a range of diplomatic issues, including support for Gaza and backing Syria’s new government following the ouster of president Bashar al-Assad in 2024.

Under the agreement, Saudi firm Acwa will build two solar power plants in the provinces of Sivas and Karaman in central Turkey, with a combined capacity of 2,000 megawatts — enough to meet the electricity needs of 2.1 million households, officials said. Turkish energy minister Alparslan Bayraktar hailed the project as “one of the largest domestic and foreign investments ever made in our energy sector,” and said Turkey “will also secure electricity procurement at the lowest price ever achieved in our country.”

Turkey is undergoing an energy “revolution,” he said, adding that 62 percent of installed electricity capacity last year came from renewable sources. “We have increased our installed capacity in solar and wind energy from almost zero to over 40,000 megawatts today. We consistently emphasise that our country has much greater potential in renewable energy,” he told a ceremony. By 2035, Turkey aims at increasing its installed capacity in solar and wind to 120,000 megawatts.

Ankara is also targeting net zero emissions by 2053, but 33.6 percent of its electricity came from coal last year, according to official ministry data. In response to an AFP question about Turkey’s dependence on coal, Bayraktar said Turkey aims at cheaper energy and reducing reliance on energy imports. “Coal can initially be replaced with gas, but in the medium and long term it can be substituted with nuclear power plants,” he said.

© 2024 AFP

Tags: renewable energysolar powerTurkey
Share8Tweet5Share1Pin2Send
Previous Post

Victorious Takaichi promises ‘strong and prosperous’ Japan

Next Post

European stocks rebound, oil prices ease after US-Iran volatility

Andrew Murphy

Andrew Murphy

Related Posts

Business

Zuckerberg to testify in landmark social media addiction trial

February 18, 2026
Business

Bayer proposes class settlement for weedkiller cancer claims

February 18, 2026
Business

Bayer proposes class settlement for weedkiller cancer claims

February 17, 2026
Business

Greenland entrepreneur gambles on leafy greens

February 17, 2026
Business

Dutch inventor of hit game ‘Kapla’ dead at 80: family

February 16, 2026
Business

US lawmaker moves to shield oil companies from climate cases

February 12, 2026
Next Post

European stocks rebound, oil prices ease after US-Iran volatility

'Alpha male' AI world shuts out women: computing prof Hall

X appeals EU's 120-mn-euro fine over digital content violations

Germany's Merz to visit China next week

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

81

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

US GDP growth misses expectations as Trump blames shutdown

February 20, 2026

Germany’s Merz to visit China next week

February 20, 2026

X appeals EU’s 120-mn-euro fine over digital content violations

February 20, 2026

‘Alpha male’ AI world shuts out women: computing prof Hall

February 20, 2026
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.