acwa mulls fresh investment in Turkey by year-end: Exec

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acwa aims to sign an agreement with Turkey regarding the second phase of its renewable energy investments, with a capacity of 3 gigawatts, before next November, Bloomberg reported, citing Abid Malik, President of Central Asia at acwa.

Construction on the first phase of the company’s investments in Turkey is scheduled to begin in the first or second quarter of 2027, with electricity generation expected to commence by mid-2028.

acwa's portfolio — in which the Public Investment Fund (PIF) holds a 44% stake — includes a gas-fired power plant in Turkey. The company has also expanded its solar energy projects in both Indonesia and Uzbekistan.