Syrian authorities announce a groundbreaking $7 billion energy investment agreement with Kalyon Holding from Turkey
In a groundbreaking international energy move, Kalyon Holding and a powerhouse coalition of partners have signed a stratospheric collaborative deal for Syria. This mammoth agreement, worth a whopping $7 billion, brings together Kalyon Holding, Cengiz Holding (both from Turkey), UCC from Qatar, and Power International from the United States.
The deal revolves around the construction of four natural gas power plants across Syria, namely Traifawi, Zayzoun, Deir-Azzour, and Mehardeh, and a 1,000 MW solar power plant in Wedian Alrabee. The phased development of these projects is slated for completion within the next three years, with the solar plant slated to operate a year earlier.
This energy powerhouse is anticipated to generate around 35 billion kilowatt-hours of electricity annually, making a substantial contribution to Syria's power needs and marking a crucial step towards the country's energy recovery and sustainability efforts. The investment is also expected to spur regional development and reestablish infrastructure stability after a tumultuous period of conflict.
The agreement ceremony was graced by Syrian Energy Minister Mohammed Al-Bashir, who hailed the deal as a "historic moment." He praised the involvement of each company, recognizing each as a leader in its respective field. The project also garnered endorsement from the U.S. administration, with ambassador Thomas Barrack confirming the lifting of sanctions on Syria as of May 13. He underscored the symbolism of four nations collaborating for a common goal and reaffirmed Washington's commitment to supporting the Syrian government.
Kalyon Holding's Chairman, Cemal Kalyoncu, emphasized the company's legacy and ambition to represent Turkey in landmark global projects. He highlighted Kalyon Holding's past achievements in renewable energy and underlined their dedication to advancing global green transition goals. The company's participation in this Syrian venture follows their investments in Romania and aligns with their broader strategy of expanding into neighboring markets with high-impact and sustainable energy projects.
The partnership's involvement in Syria stands to play a pivotal role in stabilizing the country's energy sector while fostering regional economic cooperation.
Behind the Scenes
- The agreement was officially inked in late May 2025 at the Syrian presidential palace in Damascus.
- The deal involves the construction of four combined-cycle gas turbine (CCGT) power plants with a combined capacity of 4,000 MW and a 1,000 MW solar power plant in Wadyan al-Rabee.
- The timeline for the projects includes three years for the gas plants and a two-year development period for the solar facility.
- By doubling Syria's current electricity generation capacity, the new infrastructure is set to meet over 50% of Syria's electricity needs upon completion.
- The collaboration signifies an essential milestone in rebuilding Syria's infrastructure, with immediate and long-term impacts on the electricity supply, economic recovery, and regional cooperation.
- The project highlights a commitment to sustainable energy as it seamlessly incorporates large-scale solar power alongside its focus on gas.
[1] "Syria signs energy deal with consortium of Turkish, Qatari, US firms," Reuters, May 24, 2025.
[2] "Turkish consortium to invest $7 billion in Syria's energy sector," Anadolu Agency, May 24, 2025.
[3] "Syria, international consortium ink energy deal worth $7 billion," Xinhua, May 24, 2025.
[4] "Syria's energy recovery and sustainability efforts get a $7 billion boost," Gulf News, May 24, 2025.
[5] "Syria signs strategic Syrian energy cooperation agreement valued at $7 billion," Sputnik News, May 24, 2025.
- The strategic energy cooperation agreement between Kalyon Holding, Cengiz Holding, UCC, and Power International in Syria's energy sector is expected to bring significant changes in the country's business landscape.
- The $7 billion deal, which includes the construction of natural gas and solar power plants, will have a substantial impact on Syria's lifestyle and energy demands, potentially contributing towards energy sustainability.
- Finance plays a crucial role in the success of this project, with the investment expected to spur regional development and infrastructure stability post-conflict.
- This energy project, which falls under the industry sector, signifies international collaboration and commitment towards sustainable energy solutions and regional cooperation.
