THE FIRST SIGNIFICANT TURKISH ACQUISITION BY THE UAE SINCE RELATIONS HAVE IMPROVED

 

The first significant business transaction between the two nations since relations between them thawed is the purchase of a 50% stake in a Turkish company with ties to President Recep Tayyip Erdogan by a United Arab Emirates company managed by the nation's national security adviser.

On December 2, 2021, a worker at the Karapinar Solar Power Plant of Kalyon Energy in Karapinar, Turkey, works to install fresh solar panels. The largest solar panel plant in Turkey is being built by Kalyon, and it is now running at 44% of its potential. When finished in late 2022, the 1.35 GW Karapinar solar project would provide clean electricity to almost two million Turkish homes. Turkey was the final G-20 nation to ratify the Paris Climate Agreement in October, setting a goal of net-zero emissions by 2053 and putting a priority on new climate projects. The government is compelled to turn to renewable sources of energy like geothermal, hydropower, wind, and solar because gas and coal remain the main fuels used in the energy sector.

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Turkey has grown its installed renewable energy capacity in recent years as part of its efforts to reduce its almost complete reliance on petroleum imports. When finished in late 2022, the 1.35 GW Karapinar solar project would provide clean electricity to almost two million Turkish homes. Turkey was the final G-20 nation to ratify the Paris Climate Agreement in October, setting a goal of net-zero emissions by 2053 and putting a priority on new climate projects. The government is compelled to turn to renewable sources of energy like geothermal, hydropower, wind, and solar because gas and coal remain the main fuels used in the energy sector. Turkey has grown its installed renewable energy capacity in recent years as part of its efforts to reduce its almost complete reliance on petroleum imports. between the nations since their ties began to warm.

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