The Government of Turkey has approved the agreement with Russia concerning construction of a nuclear power plant in Akkuyu, Mersin District. The decision by the Council of Ministers regarding the agreement signed on May 12 was published in an official newspaper today, October 6.
To recall, the agreement on construction of the NPP was signed in Ankara on May 12, 2010. In this regard, a joint-stock project company will be established in the Republic of Turkey, which 100% of shares will be initially owned by organizations authorized by the Russian party. The project organization is planned to arrange for commissioning into commercial operation four power units of the plant. Thereat, the Turkish public utility TETAS guarantees buying electricity produced by the NPP from the project company commencing the commercial operation of the plant at an average weighted price of 12.35 US cents per one kWh: 70 % from the first and second units and 30 % from the third and fourth units. The project company will be selling the reminder on the free market.