Turkey’s energy minister said Russia has provided $9 billion in new financing for the Akkuyu nuclear power plant, a project led by Russia’s state nuclear energy company Rosatom, which is building Turkey’s first nuclear power station, according to a ministry readout cited by Reuters.
Energy and Natural Resources Minister Alparslan Bayraktar said Turkey expects the plant to be operational in 2026. The project, located at Akkuyu on Turkey’s Mediterranean coast in Mersin province, has faced delays and was previously expected to begin operating in 2025.
“This [financing] will most likely be used in 2026-2027,” Bayraktar told local reporters at a briefing in İstanbul, according to the readout. He said there would be “at least $4-5 billion” in foreign financing for 2026.
Rosatom is building the plant under a 2010 agreement valued at about $20 billion.
Bayraktar also said Turkey is holding talks with South Korea, China, Russia and the US about additional nuclear projects in Sinop province on the Black Sea coast and in the Thrace region in northwestern Turkey, adding that Ankara wants “the most competitive offer.”
Turkey has long pursued nuclear power as part of efforts to diversify its electricity supply and reduce reliance on imported energy.
Bayraktar said Turkey is also in talks with Saudi Arabia’s ACWA Power on a 5,000-megawatt solar package.
“We will have completed the agreement for this in the first quarter of 2026, for 2,000 megawatts in the first phase,” he said, according to the readout. He said the first phase would include 1,000 megawatts in Sivas and 1,000 megawatts in the Taşeli area.
Bayraktar said Turkey is also discussing a solar and storage project with another Gulf-based company, with an estimated investment cost of $1.5 billion to $2 billion, without naming the firm or providing details.