Saudi Arabia and Turkey Expand Cooperation in Energy and Explore New Opportunities

SadaNews - During the official visit of Turkish President Recep Tayyip Erdoğan to Saudi Arabia, several agreements were signed, including one to establish power generation stations using renewable energy.

According to the Saudi Press Agency, the agreement signed by Saudi Minister of Energy Prince Abdulaziz bin Salman and Turkish Minister of Energy and Natural Resources Alperen Akbaba involves the development and implementation of solar energy projects with a total installed capacity of up to 5000 megawatts, to be executed in two phases.

The first phase includes two solar energy projects in Sivas and Kerman, with a total capacity of 2000 megawatts and an investment amount of two billion dollars. The second phase includes additional projects with an extra capacity of 3000 megawatts.

The agreement also stipulates that a Turkish state-owned company will purchase the electricity generated from these stations for a period of thirty years.

Both sides considered that "the agreement represents an important step towards enhancing the investment partnership between Saudi Arabia and Turkey, reflecting mutual trust and their shared commitment to expanding cooperation in strategic projects with sustainable economic and developmental impacts, in accordance with best international practices, while contributing to knowledge transfer, capacity building, and achieving mutual benefits for both brotherly countries."

Erdoğan in Saudi Arabia

These agreements come as Erdoğan arrived in the Saudi capital, Riyadh, for an official visit, where he held an official discussion session with Saudi Crown Prince Mohammed bin Salman.

According to the Saudi Press Agency, prospects for bilateral relations, avenues for cooperation, and promising opportunities for development in various fields were reviewed, in addition to discussing developments in the region and the world.

The Turkish president is accompanied by the ministers of foreign affairs, defense, finance, trade, energy, industry and technology, health, social services, and youth and sports, according to the official Anadolu Agency.

Also on the sidelines of the visit, the "Saudi-Turkish Investment Forum 2026" is convening with the presence of hundreds of companies from both countries, where Saudi Investment Minister Khalid Al-Falih praised the "unprecedented level reached in Saudi-Turkish economic relations" in his speech.

The last visit of the Turkish president to the Kingdom was on July 18, 2023, where he was received by Prince Mohammed bin Salman at the Al-Salam Palace in Jeddah.

At that time, several bilateral agreements were signed between the two countries, including a memorandum of understanding for cooperation in the field of energy, an executive plan for cooperation in defense capabilities and industries, research and development, a memorandum of understanding for cooperation in direct investment, and other agreements.

Erdoğan is scheduled to head to Egypt tomorrow, Wednesday, following the completion of his visit to the Kingdom.

Gaza and Syria on the Agenda

Prior to the visit, the Turkish president stated in an interview with "Asharq Al-Awsat" that among the issues on the agenda of his visit to Saudi Arabia is "related to the Palestinian issue, the permanent ceasefire in Gaza, as well as matters concerning Syria. In addition to economic topics, we will discuss how to raise the level of our trade relations, investments, and joint projects. We will work on strengthening consultations and expanding the agenda to address all issues that serve the common good of the two countries."

He added: "Regarding new cooperation steps, we do not view the matter solely in terms of signing agreement documents, but we aspire to implement tangible and sustainable projects that would yield real results on the ground and benefit both sides significantly. We seek to take real steps that open the way for the business sector, create job opportunities, and positively impact the lives of our two peoples."

In this context, Erdoğan believes there are significant potentials in the areas of economy, trade, and investment, in addition to energy, tourism, transportation, and logistics services, emphasizing that these potentials should not remain confined to paper.