Minister of Energy and Natural Resources, Alparslan Bayraktar, stated, "The two projects totaling 2,000 megawatts represent an investment of approximately 2 billion dollars."
Speaking at the signing ceremony for the Sivas and Taşeli Solar Power Plant Projects held in Istanbul, Bayraktar emphasized that the Intergovernmental Agreement on Renewable Energy Projects, signed on February 3, marked a significant step in the energy sector for both countries. Under the agreement, Bayraktar explained, Saudi Arabia will build a total of 5,000 megawatts of solar and wind power plants in Turkey, noting that this cooperation is now materializing with ACWA Power.
Bayraktar revealed that an agreement had been reached for a sales price of 2.35 Euro cents per kilowatt-hour for the plant to be built in Sivas, while in Karaman Taşeli, the electricity will be purchased at a fixed price of 1.99 Euro cents per kilowatt-hour, which is the lowest price seen in Turkey to date. He also mentioned that these prices will be valid for 25 years, with the total purchase period set at 30 years.
Bayraktar stated that a support mechanism similar to the YEKA (Renewable Energy Resource Area) tenders would be applied to the plants to be constructed within the first five years. The incentive will be applied at a rate of 4.75 Euro cents per kilowatt-hour, which is below the average market price, instead of the right to sell directly to the free market.
With the Sivas and Taşeli solar power projects, the aim is to meet the electricity needs of a total of 2.1 million households. He emphasized that the domestic production rate for both projects will be at least 50%. The foundation for the projects will be laid this year, with commercial operation expected to begin at the start of 2028. The second phase of the 5,000-megawatt agreement will involve an additional 3,000 megawatts of solar and wind energy investments.
During the signing ceremony, an investment agreement was signed between the Ministry of Energy and Natural Resources and ACWA Power, and a power purchase agreement was signed between Elektrik Üretim AŞ (EÜAŞ) and ACWA Power. The investment agreement was signed by Deputy Minister of Energy and Natural Resources, Zafer Demircan, and ACWA Vice President, Raad Al-Saady, while the power purchase agreement was signed by EÜAŞ General Manager, Zafer Benli, and ACWA Turkey-Azerbaijan Country General Manager, Mehmet Selim Güven.
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