Wedoany.com Report-Dec.29, Turkey's Energy Minister Alparslan Bayraktar announced that Russia has provided new financing of $9 billion for the Akkuyu nuclear power plant. The facility is being constructed by Russia's state nuclear energy company Rosatom in the Mediterranean province of Mersin.

The Akkuyu project, Turkey's first nuclear power station, is being developed under a 2010 agreement valued at $20 billion. Originally scheduled to become operational this year, the plant has faced delays. The minister indicated that the new financing will likely be utilized mainly in 2026 and 2027.

"This (financing) will most likely be used in 2026-2027. There will be at least $4-5 billion from there for 2026 in terms of foreign financing," Bayraktar told local reporters at a briefing in Istanbul, according to a readout from his ministry.

The minister also shared that Turkey is engaged in discussions with South Korea, China, Russia, and the United States regarding potential nuclear power projects in the Sinop province and the Thrace region. He emphasized that Ankara is seeking the most competitive offer for these initiatives.

Bayraktar underlined Turkey's goal to develop nuclear power generation domestically and to establish clear targets for its energy mix.

In addition to nuclear developments, the minister revealed ongoing talks with Saudi Arabia's ACWA Power company for a large-scale solar energy package with a total capacity of 5,000 megawatts.

"We will have completed the agreement for this in the first quarter of 2026, for 2,000 megawatts in the first phase. We are talking about a 2,000-megawatt solar energy project; 1,000 megawatts in Sivas, a thousand in Taseli," he said.

Bayraktar further mentioned negotiations with another company from the Gulf region for a combined solar and energy storage project. He estimated the approximate investment cost for this initiative to be between $1.5 billion and $2 billion, though he did not provide additional specifics.

These announcements highlight Turkey's active efforts to expand its energy infrastructure through international partnerships. The secured financing supports continued progress at Akkuyu, while parallel discussions aim to diversify the country's energy sources with both nuclear and renewable projects. The planned timelines indicate significant advancements expected in the coming years, particularly from 2026 onward.