Russia allocates $9 billion to Turkish Akkuyu nuclear project, says energy minister

Russia has secured new financing of around $9 billion for the construction of Türkiye’s first nuclear power plant, Akkuyu, Turkish Energy Minister Alparslan Bayraktar announced.

The minister emphasised that the financing source is expected to be used in 2026–2027, with $4–5 billion in external funding projected to enter Türkiye through this channel in 2026 alone, Caliber.Az reports per Turkish media.

Bayraktar also confirmed that Türkiye plans to launch the first reactor of the Akkuyu nuclear power plant next year.

“2026 has been set as the target year when the first reactor will begin producing electricity,” the Turkish minister noted.

The Akkuyu nuclear power plant project includes four power units equipped with Russian-designed Generation III+ VVER reactors, each with a capacity of 1,200 megawatts. 

The construction of Akkuyu is the first project in the global nuclear industry to be implemented under the “build–own–operate” model.

By Jeyhun Aghazada