Road Map For Energy Investment With UAE Outlined
(MENAFN- AzerNews) 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.
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