{"id":87122,"date":"2024-10-03T00:00:00","date_gmt":"2024-10-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/10\/03\/acwa-power-is-reportedly-eyeing-big-investments-in-turkey\/"},"modified":"2024-10-03T00:00:00","modified_gmt":"2024-10-03T00:00:00","slug":"acwa-power-is-reportedly-eyeing-big-investments-in-turkey","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/10\/03\/acwa-power-is-reportedly-eyeing-big-investments-in-turkey\/","title":{"rendered":"Acwa Power is reportedly eyeing big investments in Turkey"},"content":{"rendered":"

<\/strong>Acwa + <\/strong>Turkey <\/strong>discuss green energy investment: <\/strong>Saudi Arabian renewables giant Acwa Power is reportedly holding talks with Turkey\u2019s Ministry of Energy and Natural Resources about investing in the country\u2019s green energy industry, Bloomberg<\/a> reports, citing Turkish officials familiar with the negotiations. It is unclear how far along the talks are. \u201c[We] cannot elaborate more at this point,\u201d an Acwa spokesperson said.<\/p>\n

Adding fuel to the rumors: <\/strong>Turkish Vice President Cevdet Yilmaz told a local news channel last weekend a \u201cSaudi-owned company\u201d was interested in investing USD 5 bn into the Turkish energy sector among other areas, Bloomberg writes.<\/p>\n

Turkey\u2019s been courting Saudi investments: <\/strong>Turkey\u2019s Energy and Natural Resources Minister Alparslan Bayraktar said Saudi Arabia was looking to develop 4-5 GW worth of renewable energy projects in Turkey <\/span>last year<\/a>, after <\/span>initial talks began<\/a> during Turkish President Recep Tayyip Erdogan official state visit to Jeddah.<\/span><\/p>\n

But <\/strong>Acwa\u2019s <\/strong>Turkish green plans have been stalled: <\/strong>Acwa was looking to build a 340 MW wind power plant in Turkey back in 2016, Hurriyet Daily<\/a> reported at the time, citing comments made by Acwa\u2019s head of Turkish operations Abid Hussain Malik. The company\u2019s only investment in Turkey goes back almost a decade with the USD 1 bn, 950 MW Kirikkale Combined Cycle Power Gas Plant<\/a> in a contract with Samsung C&T. <\/p>\n

Turkey has big green targets: <\/strong>Turkey revealed a new national energy plan<\/a> in January, increasing the quota of renewable energy generation<\/a> in its energy mix by 7% by 2035 to 23.7% \u2014 up from 16.7% in 2020. The country aims to generate an ambitious 190 GW of clean power by 2035 to help realize its net zero commitment and is eyeing a green hydrogen electrolyzer generational capacity totaling 2 GW in 2030, increasing to 5 GW in 2035.<\/p>\n","protected":false},"excerpt":{"rendered":"

Turkish VP Cevdet Yilmaz said a \u201cSaudi-owned company\u201d was interested in investing USD 5 bn into the Turkish energy sector<\/p>\n","protected":false},"author":1,"featured_media":87123,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[152],"tags":[184,11,151,191],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-acwa-power","tag-enterpriseclimate","tag-investment-watch","tag-turkey","wpautop","entry"],"acf":{"mongo_id":"5e845f67-2395-43d3-99ed-6ab39c7b6ec3","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/301.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Acwa Power is reportedly eyeing big investments in Turkey","related_issue":[87117],"teaser":"Turkish VP Cevdet Yilmaz said a \u201cSaudi-owned company\u201d was interested in investing USD 5 bn into the Turkish energy sector","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.bb13b2cb-413a-4a2f-a66b-d327d0ef2a84.mp3"},"yoast_head":"\nAcwa Power is reportedly eyeing big investments in Turkey - 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