Saudi Arabia plans to invest in solar energy projects in Turkey

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Saudi Arabia plans to invest in solar energy projects in Turkey

Paddy Padmanathan, the chairman and CEO of Saudi-based ACWA Power, stated that Turkey will open a bid for 1,000-megawatt capacity in solar energy, and went on to say that: “Our goal is to generate a capacity from various resources in Turkey. We work very carefully on the 1,000-megawatt project in Konya on solar energy.” Padmanathan added that they also expect a license for a capacity of between 350-400 megawatts in wind power, adding that they are in the process of evaluating opportunities for an investment between 50 and 200 megawatts in geothermal energy.

Speaking to Anadolu Agency (AA) regarding the company’s investment plans, Padmanathan said that the construction of the 950-megawatts facility for the natural gas conversion plant in Kırıkkale is about to be completed and that the plant will be commissioned in the first half of 2017.

Pointing out that the investment amount of this plant was realized at around $1 billion, Padmanathan said that they aimed at resource diversification in their investments in Turkey, underlining that they will not be interested in a new natural gas power plant project.

Padmanathan said that it is operating in 10 other countries besides their own. Touching on the renewable energy master plan announced by Saudi Arabian Energy Minister Khalid Al-Falih, Padmanathan noted that Saudi Arabia will include 10,000 megawatts of renewable energy capacity in the system by 2023, which means that Saudi Arabia will follow a very ambitious policy on renewable energy over the next five years.

“Initial biddings will be opened at 400 megawatts for wind energy and 100 megawatts for solar energy. There are mainly solar and wind power in the total capacity of 10,000 megawatts but there will be different resources such as geothermal and waste materials,” Padmanathan said, adding that they will surely participate in these tenders as well.

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