The Russian state corporation Rosatom has entered negotiations with Turkish and international investors regarding the sale of a 49% stake in the Akkuyu nuclear power plant project in Turkey, which is valued at $25 billion, reports Baltimore Chronicle with reference to Bloomberg.
Anton Dedusenko, Chairman of the Board of Akkuyu Nuclear, stated that investor interest is increasing as the plant’s first power unit undergoes testing. He noted that the closer the launch of the first unit gets, the more investors show up.
An earlier attempt to sell a stake in 2018 failed due to disagreements over commercial terms. The current 4.8-gigawatt project is set to become the first nuclear power plant in Turkey’s history. The start of electricity generation is expected in 2026.
Project financing is complicated by the risk of U.S. sanctions, prompting Russia and Turkey to consider alternative payment mechanisms. In particular, the use of national currencies — the ruble and the lira — is being discussed. “There are many ways to transfer funds here. We can use Russian rubles, Turkish liras,” Dedusenko said during an exhibition in Istanbul.
Earlier we wrote that IAEA demands access to Iranian nuclear sites following US strikes.