**Russia’s Rosatom to Sell Stake in Turkey’s $25 Billion Nuclear Power Plant**
In a significant move, Russia’s nuclear giant Rosatom is negotiating the sale of a 49% stake in Turkey’s Akkuyu Nuclear Power Plant project, estimated at $25 billion. This development comes as a surprise given the complex geopolitics surrounding energy cooperation between Russia and Turkey.
The Akkuyu plant, located in Mersin Province, is poised to become Turkey’s first nuclear power facility. With an expected capacity of 4.8 gigawatts, the project is scheduled to begin supplying electricity in 2026. According to Anton Dedusenko, chairman of Rosatom’s Turkish subsidiary, investors are increasingly interested in the project as it nears completion.
The sale attempt comes with a twist – previous negotiations collapsed in 2018 due to commercial disagreements. This time around, financing has become complicated by the threat of U.S. sanctions. In response, Moscow and Ankara are exploring alternative payment mechanisms, including using Russian rubles or Turkish lira.
The partnership between Russia and Turkey in this project reflects their continued diplomatic and economic ties despite Turkey’s NATO membership and its own military involvement against Ukraine. This move demonstrates a commitment to energy cooperation that transcends traditional alliances.
**What does this mean for the region?**
This development highlights the complexities of global energy politics, where traditional allies are being redefined by new partnerships and interests. It also underscores the resilience of energy cooperation despite economic sanctions.
The sale of a significant stake in Turkey’s first nuclear power plant to Rosatom raises questions about Turkey’s energy security and its future dependence on Russian nuclear energy. This could have implications for regional stability, as neighboring countries may view this move with concern.
**What next?**
As negotiations continue, it remains to be seen how this deal will unfold. Will other investors be interested in purchasing the remaining 51% stake, or will Rosatom maintain control of the project? The complexities surrounding financing and sanctions suggest that a smooth transaction is far from guaranteed.
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