The Russian state nuclear energy company, Rosatom, announced that the first reactor of the Akkuyu nuclear power plant in Turkey will reach the stage of initiating its self-sustaining nuclear chain reaction by the end of this calendar year.
Details of Reactor Launch
Alexey Likhachev, the CEO of Rosatom, told reporters on Friday: "According to the plan, the physical launch of the reactor will take place in the second half of December. We hope that by the end of the year, the first unit of the Turkish power plant will move from the construction phase to the commissioning phase."
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Russia and Turkey agreed in 2010 to build this power plant with four Russian reactors, and construction began in 2018. The first unit of the plant was supposed to be launched in 2023, but the project has faced delays due to administrative hurdles and financial issues.
Financial Issues and the Impact of the Ukraine War
Since the start of the war between Russia and Ukraine in 2022, the project's problems have increased. Although Rosatom has not been directly targeted by Western sanctions, issues related to payments and financial matters continue. The physical launch will include the loading of nuclear fuel and the initiation of the first self-sustaining chain reaction in the reactor. After this stage, connecting the power plant to the electricity grid and starting electricity production will be the next phase of this project.
Mr. Likhachev also reported progress in negotiations with potential Turkish investors and said that on Thursday he discussed participation in this project with Alparslan Bayraktar, Turkey's Minister of Energy. According to him, various proposals for the entry of Turkish investors have been prepared, but the final decision depends on the Turkish government.
The cost of constructing the Akkuyu power plant is estimated to exceed $20 billion, and its financing is the responsibility of Russia. Rosatom, the sole owner of this project, can transfer up to 49% of its shares to other partners to share investment costs. Additionally, Rosatom had previously announced in April that following increased interest in investing in energy facilities due to the war in Iran, it had begun new negotiations with Turkish companies regarding joint ownership of the power plant.
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