Türkiye regulations · 15 November 2026
Financing support letter signed for 2 GW Sivas and Taşeli solar projects
Eight financial institutions signed a support letter for ACWA’s two solar plants. The projects represent approximately €1.6 billion in investment and target operation in 2029.
Eight international financial institutions signed a support letter for ACWA’s planned Sivas and Taşeli solar power plants in Türkiye, according to a Ministry of Energy and Natural Resources announcement dated 11 November 2026. The projects have a combined capacity of 2 GW and form the first phase of a 5 GW renewable energy package agreed between Türkiye and Saudi Arabia. [Source](https://enerji.gov.tr/haber-detay?id=31970)
What the support letter covers
The Ministry describes the signing as an important step towards arranging financing for the two plants. The letter confirms the institutions’ support; that statement alone does not establish that financing has fully closed or funds have been disbursed. The signing took place alongside COP31 in Antalya, in the presence of Turkish Energy Minister Alparslan Bayraktar and Saudi Energy Minister Abdulaziz bin Salman Al-Saud. Source
Official source: Ministry of Energy and Natural Resources ↗Eight signatories listed
The announcement names ADB, AIIB, DEG, EBRD, IFC, IsDB, Société Générale and Standard Chartered as signatories, describing them as development and commercial financial institutions. However, Bayraktar’s quoted remarks refer to nine international institutions. This article uses eight signatories because both the announcement’s headline and its named list support that count; no ninth institution is identified. Source
Official source: Ministry of Energy and Natural Resources ↗Investment and the 2029 target
The Sivas plant and the Taşeli plant in Karaman will each have 1,000 MW of capacity. ACWA targets operation in 2029 for both facilities, representing approximately €1.6 billion in combined investment. The Ministry expects the projects, once operational, to supply electricity to 1.3 million households and avoid approximately 1.65 million tonnes of carbon dioxide emissions annually. These are project expectations, not achieved generation or emissions reductions. The announcement also links the projects to Türkiye’s 2053 net-zero emissions target. Source
Official source: Ministry of Energy and Natural Resources ↗Remaining capacity and national targets
Bayraktar said the remaining 3 GW of the package could combine wind and solar, with storage also envisaged. Including high-voltage transmission lines would make it a $5–6 billion package, he said. These remarks describe a planned scope rather than completed investments. He also reiterated Türkiye’s target of reaching 175,000 MW of installed wind and solar capacity in 2040, requiring approximately 9,000 MW of new capacity annually. The support-letter announcement does not introduce a new corporate reporting obligation. Source
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