5,000-Megawatt Renewable Energy Agreement with Saudi Arabia

Minister of Energy and Natural Resources Alparslan Bayraktar announced that under the memorandum of understanding signed with Saudi Arabia, ACWA Power will make a total renewable energy investment of 5,000 megawatts in Turkey. The investment is planned to be implemented in two phases. In the first phase of the agreement, 2,000 megawatts of solar energy projects will be developed in the provinces of Sivas and Karaman. These projects aim to increase renewable energy capacity. In the second phase, an additional 3,000 megawatts of capacity will be commissioned. Thus, the total investment size will reach 5,000 megawatts. The memorandum is significant in terms of strengthening Turkey's international cooperation in the renewable energy field. Minister Bayraktar shared the details of the agreement with the public. Not investment advice.

📊 CWENE — Piyasa Yorumu

▲ up · 55%

Although the news is a positive medium-to-long-term growth signal for CWENE, the short-term price impact is uncertain. The stock has fallen about 10% in 24 hours, the RSI is at 31, close to oversold territory, and the price is below the SMA20 and trading near the SMA50. The MACD is in negative territory and below the signal line, indicating weak short-term momentum. Such a deal announcement could trigger a relief rally, but given the weak technical picture, confirmation is needed for a lasting reversal. I therefore keep the direction cautiously upward with medium-low confidence.

RSI 14

31.3

MACD

-0.33

24h Δ

-9.96%

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