Russia capable of constructing Akkuyu nuke alone: Novak

By Emre Gurkan Abay

MOSCOW

Russia's state-run company Rosatom will solely complete Turkey's Akkuyu Nuclear Power Plant (NPP) project if no investor partners can be found, Russia's Energy Minister Alexander Novak said Friday.

Speaking to reporters in Moscow, Novak said the $3 billion that has already been invested in the project so far is enough for continuing the construction.

Talks with potential Turkish investors for Akkuyu NPP are ongoing, Novak said.

“Our priority is Turkish companies, especially the companies in which the [Turkish] government has some stakes. I hope that an agreement will be made soon for investors to participate in the project,” he said.

The intergovernmental agreement for Turkey's first nuclear plant was signed with Russia in 2010.

Russia's State Nuclear Energy Agency Rosatom will build the plant comprising four units and with a total capacity of 4,800 megawatts. The plant has an operational date set for the first reactor by 2023.

Based on the intergovernmental agreement, a provision has been included for the sale of a potential 49 percent share in the plant to foreign investors.

On March 28, Rosatom’s head Alexey Likhachev said he expected that the 49 percent stake sale would be completed in 2019.