Turkiye, UAE deepen energy ties with $1bn solar project

Turkiye, UAE deepen energy ties with $1bn solar project
Turkiye’s latest moves come as part of its broader Energy Transition Strategy. Reuters
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Updated 15 October 2025
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Turkiye, UAE deepen energy ties with $1bn solar project

Turkiye, UAE deepen energy ties with $1bn solar project

JEDDAH: Turkiye and the UAE are advancing their clean energy collaboration, with a $1 billion solar power project in Nigde Bor marking a new milestone in their growing partnership, Turkish Minister of Energy and Natural Resources Alparslan Bayraktar said.

The initiative follows a series of strategic agreements between the two nations, including a $27 billion framework signed in 2023 and a memorandum of understanding between Abu Dhabi’s Masdar and Turkiye’s Ministry of Energy.

Both deals reflect the countries’ shared vision for sustainable energy development, technology transfer, and long-term climate goals.

In a post on X, Bayraktar said: “We hosted Mr. Mohamed Jameel Al-Ramahi, CEO of UAE-based energy company Masdar, and his accompanying delegation at our ministry.”

He added that discussions centered on “comprehensive cooperation opportunities, focusing on joint investments in solar energy, onshore and offshore wind projects, pumped-storage hydroelectricity, and technology transfer.”

Bayraktar confirmed that the partners have reached “the final stage of the approximately $1 billion, 1,100 MW solar power plant (GES) investment project to be built in Nigde Bor.” 

He said that potential investments in “an offshore wind power plant, HVDC transmission line, and pumped-storage hydroelectric plant were also considered.”

The minister emphasized that Turkiye seeks to deepen its strategic energy partnership with the UAE through intergovernmental collaboration on renewable projects.
“Through collaborations that will strengthen our energy vision, we seek to enhance our infrastructure, achieve our 2053 net-zero target, and establish a model transformation in the region,” Bayraktar said.

According to Turkiye’s state-run Anadolu Agency, both sides discussed investment opportunities across solar, wind, and hydroelectric energy, as well as technology transfer initiatives.

“Among the topics considered were potential investments in an offshore wind power plant, a high-voltage direct current transmission line, and a hydroelectric power plant,” the agency reported.

Turkiye’s latest moves come as part of its broader Energy Transition Strategy, which sets out ambitious targets to ensure energy security, cut dependence on imports, and achieve net-zero carbon emissions by 2053.

The roadmap aims to expand the nation’s wind and solar capacity from 30 gigawatts to 120 GW by 2035 — a fourfold increase requiring investments of about $108 billion.

The country is accelerating the adoption of solar technologies, including both thermal and photovoltaic systems, across industrial, residential, and agricultural applications. With advances in photovoltaic modules and large-scale solar installations, Turkiye is positioning solar power as a cost-effective and scalable pillar of its clean energy transformation.


Global spotlight on Riyadh as Biban Forum 2025 opens

Global spotlight on Riyadh as Biban Forum 2025 opens
Updated 05 November 2025
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Global spotlight on Riyadh as Biban Forum 2025 opens

Global spotlight on Riyadh as Biban Forum 2025 opens
  • 40,000 participants from more than 150 countries attend the four-day forum in Riyadh.
  • Billions of riyals in potential agreements expected as investors and startups converge.
  • Entrepreneurship World Cup Global Finals hosted for the third consecutive year.

RIYADH: Saudi Arabia’s flagship entrepreneurship event, Biban Forum 2025, opened in Riyadh on Wednesday, drawing tens of thousands of investors, innovators, and business leaders from around the world as the Kingdom strengthens its position as a global hub for startups and small businesses.

Organized by the Small and Medium Enterprises General Authority under the theme “Global Destination for Opportunities,” the four-day event at the Riyadh Front Exhibition and Conference Center has attracted more than 140,000 participants from over 150 countries, including startup founders, venture capitalists, policymakers and CEOs.

With billions of riyals in potential deals and hundreds of international companies participating, Biban Forum has become a cornerstone of Saudi Arabia’s drive to diversify its economy and foster innovation under Vision 2030.

“Biban Forum 2025 is more than an event — it is a bridge between ideas and investment, where local and global entrepreneurs find the support they need to scale,” said Monsha’at Gov. Sami Ibrahim Al-Hussaini.

It also hosts the Global Finals of the Entrepreneurship World Cup for the third consecutive year, held in partnership with the Mohammed bin Salman Foundation and the Global Entrepreneurship Network.

The 2025 EWC finals bring together 100 global startups from a pool of over 10,300 entrepreneurs across 169 countries, competing live on stage in Riyadh for $1.5 million in cash prizes and access to international investors and mentors. Since its launch, the competition has attracted more than 420,000 entrepreneurs from 191 countries.

Coinciding with the event, Monsha’at released a report highlighting the rapid progress of the Kingdom’s startup ecosystem. It showed 1.7 million active commercial registrations by the end of the third quarter of 2025, with SMEs employing more than 8.4 million people.

The report also pointed to gains in key sectors. Women’s workforce participation rose to 43.5 percent, inbound tourism spending climbed 9.7 percent in the first quarter, and the real estate market continued to expand, with 47,286 off-plan residential units licensed in the third quarter.

The e-sports industry grew 72 percent year on year, while financing to small and medium enterprises increased 20 percent, with commercial banks accounting for 96 percent of total lending.

“As Saudi Arabia accelerates its transformation into a premier hub for entrepreneurship and opportunity, Biban Forum serves as a powerful platform to showcase talent, unlock partnerships, and contribute to the goals of Saudi Vision 2030,” Al-Hussaini said.