Russia has provided Turkey with $9 billion for the construction of the Akkuyu nuclear power plant

Turkish Energy Minister Alparslan Bayraktar announced that Russia has provided new financing of $9 billion for the Akkuyu nuclear power plant, which is being built by Rosatom. Ankara expects the plant to become operational in 2026, reports Reuters agency.

Rosatom is implementing the project to build Turkey's first nuclear power plant, the Akkuyu NPP, in the Mediterranean province of Mersin, as part of an agreement concluded in 2010 with a total value of $20 billion. The plant was scheduled to be launched in 2025, but its commissioning has been postponed.

"This funding will most likely be used in 2026-2027. At least $4-5 billion of foreign funding will be available from there for 2026," Minister Bayraktar said.

He said that Turkey is in talks with South Korea, China, Russia, and the USA regarding the implementation of nuclear projects in the Sinop province and the Thrace region, emphasizing that Ankara is interested in receiving "the most competitive offer."

According to him, Turkey aims to develop its own nuclear energy production and intends to set clear quantitative targets in this area. He also added that the country is negotiating with the Saudi energy company ACWA Power regarding the implementation of a package of solar power plants with a total capacity of 5,000 MW.

"We will finalize the deal on this in the first quarter of 2026, for 2,000 MW in the first phase. This is a 2,000-megawatt solar power project; 1,000 MW in Sivas, 1,000 MW in Tashkent," he said.

The minister also revealed that Turkey is discussing a solar power and energy storage project with another firm from the Persian Gulf. The estimated investment value is between $1.5 and $2 billion.

• In July, the construction of Turkey's first nuclear power plant, Akkuyu, which is being implemented by Rosatom, was at risk of disruption due to the financial problems of the Russian company, as well as the sanctions imposed by the United States.