Turkey's Akkuyu nuclear plant secures Russian financing

22/08/2019 08:31 Nuclear

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Sberbank, Russia's state-owned banking and financial services company will provide a $400 million loan for the construction of Turkey's Akkuyu nuclear power station, the bank announced on Wednesday.

Sberbank, the first loan supplier for the nuclear project, will provide the seven-year loan to Akkuyu Nuclear company; a subsidiary of Russian nuclear firm Rosatom.

 

The intergovernmental agreement was signed between Russia and Turkey in May 2010 for the plant that will consist of four VVER-1200 power units with a total installed capacity of 4,800 megawatts.

 

Upon completion, the plant will generate about 35 billion kilowatts-hours of electricity per year, with a service life of 60 years.

Source: aa.com.tr

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