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Thursday, April 5, 2018

Erdogan and Putin launch construction of Akkuyu Nuclear Power Plant

Turkey's 1st nuclear power plant Akkuyu breaks ground in Mersin, Turkey on April 3, 2018. Groundbreaking ceremony held with the participation of Turkey's President Recep Tayyip Erdoğan and Russian President Vladimir Putin via video conference from Ankara. The Akkuyu Nuclear Power Plant is a nuclear power plant under development at Akkuyu, in Büyükeceli, Mersin Province, Turkey. It will be the country's first nuclear power plant.

In May 2010, Russia and Turkey signed an agreement that a subsidiary of Rosatom — Akkuyu NGS Elektrik Uretim Corp. (APC: Akkuyu Project Company) — would build, own, and operate a power plant at Akkuyu comprising four 1,200 MW VVER units. The agreement was ratified by the Turkish Parliament in July 2010. Engineering and survey work started at the site in 2011. In 2013, Russian nuclear construction company Atomstroyexport (ASE) and Turkish construction company Ozdogu signed the site preparation contract for the proposed Akkuyu nuclear power plant. The contract includes excavation work at the site. The official launch ceremony took place in April 2015. Major construction is expected to begin in March 2018,  and the first unit is expected to become operational in 2023.

Financing is provided by Russian investors, with 93% from a Rosatom subsidiary. Up to 49% of shares may be sold later to other investors. Potential investors are Turkish companies Park Teknik and Elektrik Üretim. Turkish Electricity Trade and Contract Corporation (TETAS) has guaranteed the purchase of 70% power generated from the first two units and 30% from the third and fourth units over a 15-year power purchase agreement. Electricity will be purchased at a price of 12.35 US cents per kW·h and the remaining power will be sold in the open market by the producer.


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Long Live Turkey, Long Live Erdogan.


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