Turkey’s energy minister says Russia has provided $9 billion in new financing for the Akkuyu nuclear power plant, Turkey’s first nuclear power station, as Ankara pushes to bring the delayed project online in 2026.
Energy and Natural Resources Minister Alparslan Bayraktar said the new funding—linked to the Rosatom-led project—will “most likely” be used in 2026–2027, and that Turkey expects at least $4–5 billion in foreign financing to be available in 2026. The Akkuyu plant, located on Turkey’s Mediterranean coast in Mersin province, is being built by Russia’s state nuclear company Rosatom under a 2010 agreement valued at around $20 billion. The project had previously been expected to start operating in 2025, but has faced delays.
Bayraktar also said Turkey is holding talks with multiple countries—South Korea, China, Russia, and the United States—over potential additional nuclear projects planned for Sinop on the Black Sea coast and in the Thrace region, adding that Ankara is seeking “the most competitive offer.”
Alongside nuclear expansion, Bayraktar said Turkey is in discussions with Saudi Arabia’s ACWA Power on a 5,000-megawatt solar package. He said an agreement for the first 2,000 megawatts is expected to be completed in the first quarter of 2026, with the first phase split between 1,000 megawatts in Sivas and 1,000 megawatts in the Taşeli area. He also said Turkey is discussing a separate solar-plus-storage project with another Gulf-based company, estimated at $1.5 billion to $2 billion, without naming the firm
