A ceremony dedicated to the Akkuyu NPP construction outcomes in 2011 took place in Ankara

A ceremony dedicated to accomplishments of Akkuyu Electricity Generation Joint-Stock Company, Akkuyu NPP JSC, in 2011 took place in Ankara, the Capital City of the Republic of Turkey. Mr. Alexander Superfin, Company’s CEO, emphasized that the Project Company has completed all commitments for 2011 pursuant to the Agreement (signed on May 10, 2010 in Ankara) between the Governments of the Russian Federation and the Republic of Turkey on construction of a nuclear power plant in Mersin Province. The applications for two documents, precisely, the Power Generation License and the Resolution on the Environment Impact Assessment (EIA) Report, were submitted by the end of 2011 in full compliance with the strategic plan.

«The first very important stage of the Akkuyu NPP Project has been successfully completed», - Mr. Alexander Superfin said. The whole year Akkuyu NPP JSC, a company registered in Turkey, formulated the “road map” for project implementation. The main on-site construction activities are to commence in 2014. The overall necessary infrastructure comprising a railway line and utility lines, a residence area, is expected to be on-site by that time. The Site License was issued in the midsummer 2011.

Mr. Taner Yildiz, Minister of Energy and Natural Resources of the Republic of Turkey, highly appreciated all Company’s efforts, when summing up the first year outcomes of cooperation. And he also stated, that “the Republic of Turkey is resolute to demonstrate its political will when developing its nuclear energy industry. We will provide all necessary support to this project in order to implement it at the highest internationally-recognized level. The results of this year have only demonstrated the high level of strategic cooperation between the Russian Federation and the Republic of Turkey».

As to the Project funding, various international credit institutions feel interest in investing into this new Nuclear Power Plant. The Project Company’s authorized capital has been increased up to 1,440,000,000.00 Turkish Lira; the RF Federal Budget has paid 22 billion Rubles. Currently Concern Rosatom OJSC (an integral part of the State Corporation Rosatom) is a principle owner of the Akkuyu NPP Project Company; its share amounts to 92.85%. The percentages of other shareholders are as follows: Inter RAO UES – 3.47%, Atomstroyexport CJSC – 3.47%, Atomtechenergo OJSC – 0.1% and Atomenergoremont OJSC – 0.1%.

The project of Akkuyu NPP in Turkey is a first NPP project implemented by Russia on the BOO principle (Build-Own-Operate). Under the long-term contract the Project Company assumes responsibilities to design, construct, operate and decommission the plant. Foreign investors can purchase a stake in the Company’s authorized capital not exceeding 49%. And the Turkish side secures purchasing of a pre-determined quota of the plant generated electricity under a fixed-price contract within 15 years after putting the power units into operation for providing the Project payback.