Masdar wants a chunk of Turkey’s wind power potential: The UAE’s state-owned renewables player Masdar is in talks to acquire a stake in Turkey’s top wind power producer Fiba Yenilenebilir Enerji in what would mark the renewables giant’s entry into the Turkish market, Bloomberg reported on Wednesday, citing people with knowledge of the matter. The sources did not provide details on the potential size of the stake that Masdar is seeking and indicated talks are not final.

We already know the UAE was planning big for Turkey: The UAE and Turkey signed in July several agreements worth USD 51 bn during a visit by Turkish President Recep Tayyip Erdogan to a number of GCC countries to lure investments to Turkey. Around USD 30 bn of the committed funds by the UAE will be directed to investments in the Turkish energy sector. The cooperation between the UAE and Turkey will see both countries pour in “large scale investments” in renewable energy, green hydrogen, hydroelectric power production, as well as finance transmission projects and battery storage facilities. Both countries also seek to expand cooperation on nuclear energy production and emerging technologies including carbon capture, storage, and utilization.

About Fiba: Owned by Turkish b’naire Husnu Ozyegin’s Fiba Group, Fiba Yenilenebilir Enerji is among Turkey’s leading five wind-power producers with 553 MW of installed capacity, Bloomberg writes, citing the company’s latest financial statement. Its total assets also include solar power plants with a capacity of 28 MW worth USD 1.31 bn as of December 2021.