Alparslan Bayraktar, Turkey’s Minister of Energy, announced that the country is preparing to sign a contract for the development of a 3,000-megawatt renewable power plant by the Saudi company Acwa Power.

Acwa Power also signed a contract this February for the development of a 1,000-megawatt solar power plant (equivalent to the capacity of Iran’s Bushehr nuclear power plant) with Turkey, which is expected to come online in early 2028.

The Saudi company is involved in the development of 98,000 megawatts of renewable power plants—including 3,500 megawatts in the Republic of Azerbaijan—with a total value of $125 billion across 16 countries.

According to figures from the International Renewable Energy Agency, last year Turkey added 7,200 megawatts and Saudi Arabia added 5,700 megawatts to their renewable power generating capacity. In Iran, the figure was only 1,000 megawatts.