Acwa has signed an investment agreement with the Ministry of Energy and Natural Resources of the Republic of Türkiye under the 5 GW intergovernmental renewable energy programme. Under the agreement, Acwa will be responsible for developing, financing, constructing, commissioning, and operating the projects. The agreements cover the development of five renewable energy projects with a combined capacity of 5 GW.
The programme will begin with Phase 1 developments of 2 GW of solar capacity across two plants located in Sivas and Taşeli. Acwa has also signed a power purchase agreement with Elektrik Üretim Anonim Şirketi for the sale of electricity generated from each plant. Moreover, the programme is expected to attract up to $5 billion in foreign direct investment while supporting Türkiye’s target of 120 GW of renewable capacity by 2035.
In December 2025, ACWA Power and Bapco Energies entered into a joint development agreement to collaborate on the development of a solar project integrated with a battery energy storage system in Saudi Arabia’s Eastern Province. With the planned generation capacity expected to reach up to 2.8 GW, all electricity produced from the project will be transmitted to Bapco Energies’ load centre in Bahrain.
