Turkish Energy Minister Alparslan Bayraktar stated on Tuesday that Masdar, a UAE-based renewable energy developer, is in the final stages of securing an agreement to develop a 1.1GW solar project equipped with an energy storage system in Turkey.
The announcement followed a visit to Turkey by a UAE delegation led by Masdar CEO Mohamed Jameel Al Ramahi, aimed at exploring joint investment opportunities in renewable energy and energy storage.
The discussions focused on four key areas: solar power, onshore and offshore wind energy, pumped storage hydropower, and technology transfer, outlining a comprehensive framework for cooperation.
The two parties have now advanced to the final stage of a project valued at $1 billion (approximately €866 million). The project plans to develop a 1,100-megawatt (1.1GW) solar power plant with an energy storage system in the Bor district of Nigde Province in central Turkey.
Additionally, the talks covered other potential investment directions, including an offshore wind farm, an ultra-high-voltage direct current (HVDC) transmission line, and a pumped storage hydropower plant.
