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

Kosovo measure wind potential auctions public projects

Kosovo* to measure wind potential for auctions, public projects

02 March 2024 - Kosovo* is about to measure wind potential to present the data to foreign investors or develop public projects

Nikšić from solar and wind can produce enough electricity for the entire Montenegro

Solar, wind parks around Nikšić could power entire Montenegro

01 March 2024 - Solar and wind power plants in optimal locations in Nikšić could cover the electricity consumption of all households in Montenegro

Janom Investments expands Croatia 30 MW solar power project

Janom Investments expands to Croatia with 30 MW solar power project

01 March 2024 - The planned 30 MW solar power plant in the Slavonia area is the first project of janom Investments in Croatia.

European heat pump sales drop 2023 layoffs

European heat pump sales drop in 2023, resulting in layoffs

29 February 2024 - Heat pump sales tumbled 4.7% last year in 14 countries tracked by the European Heat Pump Association (EHPA)