According to CNBC-e's Emre Eser, the company is preparing to build two separate solar power plants in Sivas and Karaman provinces, each with a capacity of 1 gigawatt.
The project is planned to be realized through the “intergovernmental agreement model” previously applied in large-scale projects such as the Akkuyu Nuclear Power Plant and TANAP in Türkiye. This model aims to speed up zoning permits, environmental impact processes and technical approvals, and to significantly reduce bureaucratic obstacles.
Localization Condition Agreed
According to sources in the energy sector, ACWA Power initially planned to procure the equipment required for the project from China, but as a result of the negotiations, the parties reached an agreement on the localization requirement. The company is reportedly in direct contact with panel and equipment companies producing in Türkiye to receive bids and will include the local supply chain in the project.
Not the First Investment in Türkiye
ACWA Power is no stranger to the Turkish energy market. The company was previously active in Türkiye with a 950 megawatt capacity natural gas power plant investment in Kırıkkale. The new solar investment will be the company's largest renewable energy project in Türkiye. The projects in Sivas and Karaman are expected to be one of the largest solar investments by a single private investor.
The investment is just the beginning and ACWA Power is planning for more solar and renewable energy projects in Türkiye, sources noted.
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