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- November 1, 202614°
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- INTEREST36.00%-1.00
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- November 1, 202614°
Putin says Turkish companies ready to buy stake in Akkuyu NPP
Russian President Vladimir Putin valued the first Turkish nuclear power plant project at approximately $25 billion and said Moscow would welcome Turkish investors purchasing a stake in the plant.
A number of Turkish companies are ready to purchase a stake in the Akkuyu nuclear power plant, which Russia is building in southern Türkiye, Russian President Vladimir Putin said on Wednesday. “Some Turkish companies are ready to purchase a stake. We would welcome that,” Interfax quoted the president as saying.
Putin valued the project at approximately $25 billion.
Rosatom may sell up to 49% of the project
The state corporation Rosatom is currently the plant’s sole owner, while the Russian side provides financing for the project. The agreement allows Rosatom to sell a partner up to 49% of the shares.
In April, the corporation announced the start of new talks with Turkish companies on joint ownership. In early October, Rosatom chief executive Alexey Likhachev said the negotiations had made progress.
First reactor expected to achieve a chain reaction by year’s end
Russia and Türkiye signed an intergovernmental agreement on the construction of Akkuyu in 2010, and construction began in 2018. The plant will consist of four power units equipped with VVER-1200 reactors. The plant was initially scheduled to begin operations in 2023, but the deadline was postponed several times.
Rosatom expects the first unit to achieve its first self-sustaining chain reaction by the end of the year. On October 24, Türkiye’s Energy Minister Alparslan Bayraktar discussed the progress of the work with Rosatom executives in Istanbul.
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