UAE to invest in renewable energy projects of 3 GW in Turkey

UAE invest renewable energy 3 GW Turkey

Photo: Turkish Presidency Investment Office


November 26, 2021






November 26, 2021





The United Arab Emirates’ sovereign investment fund ADQ inked a strategic cooperation agreement with the Turkish Presidency Investment Office that includes 3 GW in renewable energy projects.

A series of bilateral investment deals and memorandums of understanding were signed in Turkey during the official visit of Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan.

The two sides agreed on cooperation in areas including the environment, finance and trade. Al-Nahyan met with Turkish President Recep Tayyip Erdoğan and attended a signing ceremony.

The United Arab Emirates’ sovereign wealth fund Abu Dhabi Development Holding or ADQ signed a strategic cooperation agreement with the Turkish Presidency Investment Office on direct investments and cooperation in the fields of petrochemicals, technology, transportation, infrastructure, healthcare, financial services, the agrifood sector and energy, including the existing and new projects for renewables of up to 3 GW in Turkey.

ADQ also inked a cooperation agreement with Kalyon Holding in the fields of energy, infrastructure and transportation.

The fund’s Chief Executive Officer Mohamed Hassan al-Suwaidi said the UAE has allocated USD 10 billion for investments in Turkey.

Kalyon has a solar panel factory in Ankara. It is also building the biggest photovoltaic plant in the country. Solar park Karapınar will have a peak capacity of 1.35 GW when it is finished. It translates to 1 GW in alternating current (AC), the maximum that the facility in Konya province will be able to deliver to the transmission network.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Call postgrads young professionals apply for Energy Community Summer School

Call for postgrads, young professionals to apply for Energy Community Summer School

18 January 2022 - The Energy Community Secretariat is receiving applications for the 2022 Energy Community Summer School in Sarajevo, to be held in August

Expansion of green hydrogen changes geopolitical relations

Expansion of green hydrogen changing geopolitical relations – IRENA

18 January 2022 - Green hydrogen could cover up to 12 percent of global energy consumption in 2050, according...

Romanian Commodity Exchange bilateral power supply contracts platform

Romanian Commodity Exchange to roll out platform for bilateral power supply contracts

17 January 2022 - Power purchase agreements were centralized within Romanian TSO Transelectrica's OPCOM market until a recent government directive

Albania has 660 mW of solar projects in the pipeline

Albania has 570 MW of solar projects in pipeline

17 January 2022 - The Energy Regulatory Authority, relevant ministry and environment agency are busy with procedures for a trove of solar projects