Turkey’s energy minister announced that Russia has provided $9 billion in new financing for the Akkuyu nuclear power plant, which is being built by Moscow’s state nuclear energy company, Rosatom. The funding is expected to support operations and construction through 2026 and 2027, with at least $4–5 billion earmarked for 2026, the minister said.
The Akkuyu facility, Turkey’s first nuclear power station, is located in the Mediterranean province of Mersin. Originally planned under a 2010 $20 billion accord, the plant has faced delays and was expected to be operational this year. Turkey now anticipates the plant will start functioning in 2026, marking a significant milestone in its push for domestic nuclear energy generation.
In addition to Akkuyu, Turkey is exploring nuclear projects in the Sinop province and the Thrace region, engaging with countries including South Korea, China, Russia, and the United States to secure the most competitive offers.
The energy minister also highlighted Turkey’s expansion into renewable energy, noting ongoing negotiations with Saudi Arabia’s ACWA Power for a 5,000-megawatt solar project. The first phase is expected to deliver 2,000 megawatts, split between Sivas and Taseli provinces. Another Gulf-based firm is reportedly in discussions for a solar-plus-storage project valued at $1.5–2 billion.
These initiatives reflect Turkey’s broader strategy to diversify its energy mix, strengthen domestic generation capacity, and attract foreign investment in both nuclear and renewable sectors.
