Russia's State Atomic Energy Corporation (Rosatom) has already started the partial transfer of $15 billion to a subsidiary to complete the Akkuyu Nuclear Power Plant (NPP), which is currently under construction in Türkiye.
Following talks between the Turkish Treasury and Finance Minister Nureddin Nebati and Russian officials, $5 billion was transferred from Russia to Türkiye in the first payment stage for Akkuyu, the first nuclear plant of the country.
Transfer of the outstanding amount is expected by the end of the next week to the bank account of the Akkuyu Nuclear Power Plant’s project company.
An intergovernmental agreement was signed between Türkiye and Russia in May 2010 for the plant construction in the southern province of Mersin.
The plant, which will have four VVER-1200 power reactors upon completion, will have a total installed capacity of 4,800 megawatts and produce 35 billion kilowatt-hours of electricity annually and meet around 10% of the country's power consumption when it is fully commissioned.
Operation of the first reactor has started and is scheduled for completion in 2023, when the country will celebrate the 100th anniversary of the republic. The remaining three units are due to start operations by the end of 2026, at a rate of one per year.
The plant’s investment is estimated to be in the region of $20 billion.
Reporting by Merve Ozlem Cakir
Writing by Firdevs Yuksel