Saudi Arabia’s ACWA Power Co. is reportedly in talks with Turkey about investing in the country’s green-energy sector, according to officials familiar with the discussions. Turkey’s Vice President Cevdet Yilmaz mentioned that a Saudi-owned company had shown interest in a potential $5 billion investment across energy and other sectors. While details remain private, the talks involve ACWA Power and Turkey’s Ministry of Energy and Natural Resources. However, the extent of progress in these negotiations is unclear at this stage.

ACWA Power confirmed ongoing discussions with Turkish counterparts but refrained from offering further details. If the investment goes through, it could deepen economic cooperation between Turkey and Saudi Arabia, particularly in renewable energy, following President Erdogan’s visit to Jeddah last year. ACWA Power, largely owned by Saudi Arabia’s Public Investment Fund, plays a key role in Saudi efforts to lead in solar energy, while Turkey continues to attract foreign investment to bolster its renewable energy infrastructure.