On 10 November 2026, on the sidelines of the COP31 climate summit in Antalya, Türkiye and Saudi Arabia signed an agreement for the second phase of a joint renewables programme. Energy Minister Alparslan Bayraktar and his Saudi counterpart signed it. Phase two covers 3,000 MW of wind capacity, supported by high-voltage direct-current transmission and battery storage. Phase one covers 2,000 MW of solar plants, and the Saudi investor is ACWA Power. Together the two phases total 5,000 MW. No investment value was published for the programme.
A few days later, Power Technology reported that the national energy administrations of China and Türkiye had signed a memorandum of understanding. The document is described as an initial agreement. It targets 7 GW of new solar and wind capacity, energy storage, and transmission capacity of 4 GW, with up to $15bn of investment from China. It also mentions technology transfer to support wind turbine equipment production in Türkiye.
None of the sources gives construction timelines. Both deals sit within Türkiye's goal of 120 GW of wind and solar capacity by 2035.
Why it matters
Announcements at this stage are frameworks, not final contracts. Owners, lenders and contractors will now face the harder steps: fixing scopes, grid connection and storage interfaces, procurement strategies and contract forms. Large wind, solar, transmission and storage packages running in parallel will compete for the same engineering capacity, equipment and skilled labour. Early discipline on schedule, cost baselines and risk allocation usually decides whether such programmes hold to their targets.
What it means for e-bonH clients
Investors and developers in large renewable and grid programmes need bankable budgets, realistic schedules and clear contract structures before financing is committed. Our project financing service supports project owners in preparing financing structures and the project information that lenders expect.
This summary was prepared with AI assistance from the sources above and published automatically by e-bonH. Please refer to the original sources for full details.