New Energy
Saudi Arabia’s ACWA Power, Turkey Discussing Energy Investment
- Turkey vice president spoke of possible $5 billion investment
- Turkey and Saudi Arabia aim to boost cooperation in energy
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Saudi Arabia’s ACWA Power Co. is in talks with Turkey about investing in the country’s green-energy industry, according to Turkish officials familiar with the negotiations.
Turkey’s Vice President Cevdet Yilmaz told a local news channel over the weekend that a “Saudi-owned company” had expressed interest in investing $5 billion in energy and other sectors. The talks are between ACWA Power and the Ministry of Energy and Natural Resources, the officials said, asking not to be identified because the matter is private. It’s not clear how far those talks have advanced.