Energy minister reports Russia ahead in offer to establish Turkey’s second nuclear plant
Date
7/17/2024 6:37:45 AM
(MENAFN) Russia's Rosatom is reportedly in the lead to construct Turkey’s second nuclear power plant, according to energy Minister Alparslan Bayraktar. This announcement comes as negotiations progress for the development of two additional nuclear facilities, with discussions also involving bidders from China, South Korea, and the United States. Rosatom is currently engaged in constructing turkey’s first nuclear plant, the Akkuyu, which began operations in April.
The Akkuyu project, valued at $20 billion, is expected to significantly contribute to turkey’s energy needs by supplying over 10% of the country’s electricity. Minister Bayraktar highlighted that the completion of Akkuyu will help reduce power generation costs, ultimately benefiting consumers by lowering electricity prices.
Bayraktar pointed out that Rosatom's prior experience with the Akkuyu plant positions it advantageously for the upcoming Sinop project, which will feature four reactors along the Black Sea coast. He indicated that this experience is a primary reason for Russia's favorable standing in the bidding process, stating that "they're naturally keen" on the project.
In addition to Rosatom, Turkey is also in talks with South Korea, which is vying for the Sinop project. The government aims for the plant to be a joint venture involving both public and private investors. The licensing process for the new facility is anticipated to take between two to three years, as stated by Bayraktar.
As Turkey strives to enhance its energy capacity with a goal of installing 20 gigawatts by 2050, the developments surrounding the Sinop plant signify a crucial step towards achieving this objective while fostering international partnerships in the energy sector.
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