ISTANBUL: Turkiye’s Energy Minister Alparslan Bayraktar has said that Russia has provided new financing worth $9 billion for the Akkuyu nuclear power plant, which is being constructed by Russia’s state-owned nuclear energy company Rosatom. Ankara now expects the country’s first nuclear power plant to become operational in 2026.
The $20 billion Akkuyu project, located in the Mediterranean province of Mersin, is being built under a 2010 bilateral agreement. Originally scheduled to start operations this year, the project has faced delays.
Briefing local reporters in Istanbul, Bayraktar said the new financing would likely be utilised during 2026–27, with $4–5 billion expected to flow in 2026 alone as foreign financing.
The minister also revealed that Turkiye is holding talks with South Korea, China, Russia and the United States on potential new nuclear projects in Sinop province and the Thrace region, stressing that Ankara is seeking the most competitive offers.
In parallel, Bayraktar said Turkiye is expanding its renewable energy push. He confirmed ongoing discussions with Saudi Arabia’s ACWA Power for a 5,000-megawatt solar energy package, with an agreement for an initial 2,000MW phase expected by the first quarter of 2026. Additionally, Turkiye is in talks with another Gulf-based firm for a combined solar and energy storage project, with an estimated investment of $1.5–2 billion.
By Reuters
