Construction work at the Akkuyu nuclear power plant site in the Gulnar district of Mersin, Turkey on October 21, 2025. PHOTO: AA/ABACA / Abaca Press / Profimedia
Turkey's energy minister said Russia has offered $9 billion in new financing for the Akkuyu nuclear power plant built by Russian state company Rosatom, adding that Ankara expects the plant to become operational in 2026, Reuters writes on Friday.
Rosatom is building Turkey's first nuclear power plant at Akkuyu in the Mediterranean province of Mersin under a 2010 deal worth $20 billion. The plant was supposed to become operational this year, but the work was delayed.
“This funding will most likely be used in 2026-2027. There will be at least $4-5 billion from this source for 2026 in terms of external funding,” Alparslan Bayraktar told local reporters at a press conference in Istanbul, according to a statement from the ministry he heads.
The minister said Turkey was in talks with South Korea, China, Russia and the United States about nuclear projects in Sinop province and the Thrace region, and said Ankara wanted to receive “the most competitive offer.”
According to Bayraktar, Turkey wants to produce nuclear power on its territory and aims to provide clear figures on the targets.
He added that Turkey is in negotiations with Saudi company ACWA Power for a 5,000 megawatt solar power package.
“We will finalize the agreement for this project in the first quarter of 2026, for 2,000 megawatts in the first phase. We are talking about a solar power project of 2,000 megawatts; 1,000 megawatts in Sivas and 1,000 in Taseli,” the minister said.
“We are talking with another firm in the Gulf about a solar energy and energy storage project. The estimated investment cost is between $1.5 billion and $2 billion,” Bayraktar added, without giving further details.
