Russian President Vladimir Putin has said that Turkish investors were ready to acquire a stake in the Akkuyu nuclear power plant in southern Türkiye, as Moscow seeks partners for the multibillion-dollar project.
“We are building, operating and owning the plant. Some Turkish companies ... are ready to acquire a stake. We would welcome that,” Putin said on Wednesday, according to Interfax news agency, valuing the project at around $25 billion.
The plant is being developed by Russia’s state nuclear corporation Rosatom and is financed by Russia.
Rosatom seeks partners to share investment burden
Russia and Türkiye signed an agreement in 2010 to build the plant, which will feature four Russian-designed VVER-1200 reactors. Construction began in 2018.
Rosatom, the plant’s sole owner, can sell up to a 49 percent stake to a partner, potentially helping distribute the substantial investment costs.
In April, Rosatom said it had opened new talks with Turkish companies on joint ownership of Akkuyu.
Earlier in October, Rosatom chief Alexei Likhachev said the negotiations were making progress.
First reactor target remains in focus
The project’s original commissioning target was 2023, but the schedule has been pushed back several times.
Rosatom now expects the first reactor to achieve its first self-sustaining nuclear chain reaction before the end of this year, marking a key milestone towards bringing the plant into operation.
Akkuyu is a major element of Turkish-Russian energy cooperation, and potential Turkish investment would give local companies an opportunity to take part in a project currently financed by Russia.
