Home News Economics Turkey's first nuclear power plant is unlikely to be ready in 2023

Turkey's first nuclear power plant is unlikely to be ready in 2023

nuclear power plant turkey

Share This On Social

Turkey’s first nuclear power plant is unlikely to be ready in 2023, as planned, as Russian company Rosatom has difficulties in finding partners at a local level. The 20-billion-dollar project is part of the plans of Turkish President Recep Tayyip Erdogan for 2023, marking the 100th anniversary of the establishment of modern Turkey.
Rosatom is negotiating with four Turkish companies the join financing of the project, but little progress has been made so far.
Last month, Rosatom announced that it is conducting talks with the state-owned electricity company Ewash after an agreement with a consortium of three companies has collapsed. There is no progress in the talks, including EOUAS from a government side.
Rosatom looks for Turkish partners for 49% of the planned Akkuyu Nuclear Power Plant in southern Turkey.
The government, however, is afraid EAUSA to take all 49% from the project, as it means funding worth 10 billion USD.
The 4,800-megawatt nuclear power plant should reduce Turkey’s dependence on energy imports but suffer continuous delays since the contract was awarded to Russia in 2010.
The Turkish companies are worried about the size of the investment and that they will not get a sufficient share of lucrative construction, according to industry sources. The companies also worry that guaranteed electricity prices may decrease, which will reduce future revenue.
At a press conference in November, Russian President Vladimir Putin confirmed the target date in 2023 for putting into operation the first reactor at the plant. However, Rosatom has not yet received all building permits.