PVTIME – On 3 February 2026, Saudi Arabia and Turkey signed a landmark renewable energy agreement in Riyadh. Saudi Arabia will invest almost 2 billion US dollars in two large-scale photovoltaic power plants, marking the beginning of closer collaboration between the two countries in this field.
The partnership aims to develop a combined capacity of 5GW of photovoltaic and wind energy. The first phase will see 2GW of photovoltaic installations developed in Turkey’s Sivas and Karaman regions, with a further 3GW to follow in the second phase. This will enhance both nations’ energy security and support the global transition to a low-carbon economy. The photovoltaic plants’ feed-in tariff will set a new record as the lowest ever for renewable energy in Turkey, making the project a regional benchmark.
Beyond financial investment, the collaboration includes technology transfer and local industrial upgrading. Turkish local equipment and service providers will be prioritised during implementation to boost Turkey’s photovoltaic industry.
This agreement marks a new phase in Saudi-Turkish renewable energy cooperation. It will strengthen their influence in the global green energy sector, set an example for similar partnerships, and symbolise a deeper level of economic trust and joint commitment to a sustainable future.
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