Road map for energy investment with UAE outlined

By Merve Safa Akinturk

A road map has begun to be drawn for the cooperation agreement in the field of energy signed between Turkiye and the United Arab Emirates (UAE) last year. Within the scope of projects to be carried out in the fields of solar, wind, offshore wind, and hydroelectric energy, a renewable portfolio of 6,500 megawatts is being worked on in the first phase. The technical teams of both countries continue their work on the issue. The first concrete steps within the scope of the agreement are expected to be taken in the next few months.

It is known that approximately $30 billion of the $50.7 billion agreement signed with the UAE consists of renewable energy. In this context, investments in offshore wind projects, wind turbines, and solar panels will be on the agenda. Wind measurements and geographical tests are carried out for offshore wind investments. In this context, in the first stage, work is being done on a renewable portfolio of 6,500 megawatts. These include thermal power plants, where Turkiye is working to develop its potential.

Within the scope of the agreement, in the long term, it is planned to invest up to 2,500 megawatts of offshore wind energy, up to 3 thousand megawatts of terrestrial wind energy with battery storage, 5 thousand megawatts to produce green hydrogen and/or green ammonia, and up to 2 thousand megawatts of pumped storage HEPPs. It is aimed at establishing a battery storage project of up to 1,000 megawatts under the network and transmission headings. A nuclear power plant project of up to 6 thousand megawatts is being considered. The Turkish side will determine and allocate the required areas for the projects. In this context, the technical teams of the two countries are preparing the road map for the investment.

It will be ensured that local and national products will be used to a large extent in the investments made by the Gulf countries in Turkiye. Domestic producers will take part in the supply chain. The Turkish industry, which has improved its production capability in energy equipment in recent years, is expected to become the main supplier.

In July 2023, 13 agreements worth a total of 50.7 billion dollars were signed between Turkey and the UAE in the fields of investment, economy, industry, defence, law, judiciary, renewable energy, and space industry.