Türkiye is set to become one of the countries producing energy from nuclear sources with the final phase of construction of the Akkuyu Nuclear Power Plant (NPP) nearing completion. The commissioning of the first unit is scheduled for this year, a momentous achievement for the country's fifty-year-long journey in nuclear energy. The Akkuyu NPP project began in 2010, with the laying of the foundation of the first unit five years ago. Since then, the foundation of all four power plant units has been applied, making it one of the world's largest nuclear power plant construction sites.
The NPP is being built in the Büyükeceli region of the Gülnar district in southern Mersin province, under an intergovernmental agreement signed between Türkiye and Russia. The project is one of the country's most significant investments and comprises four 1200 megawatt VVER-1200 type "III+" generation reactors with a total installed power of 4,800 megawatts.
The arrival of fresh nuclear fuel at the facility on April 27 is expected to mark a critical phase in the project. With this event, the plant is anticipated to become a "nuclear facility." The power plant's first unit is scheduled to be commissioned this year, coinciding with the 100th anniversary of the Republic. Türkiye's journey to producing energy from nuclear sources has been a gradual one, with the commissioning of the first unit at the Akkuyu NPP expected to enable the country to become one of the countries that produce energy from nuclear sources. The plant is anticipated to meet 10% of Türkiye's electricity demand alone, producing approximately 35 billion kilowatt-hours of electricity annually.
Besides, the power plant can continuously produce electricity with zero emissions, making it an environmentally friendly solution for the country's energy needs. It is also a significant contribution to Türkiye's "2053 net zero emissions" target. The Akkuyu NPP is planned to have a 60-year operational life, which can be extended for another 20 years.
The Akkuyu NPP project is expected to create employment opportunities, with approximately 4,000 people expected to be employed during the operation period. Additionally, the plant's construction and assembly work have provided job opportunities in the region, making it an essential economic activity for the area.
Türkiye's progress in nuclear energy is significant, but the country is also taking strides in renewable energy technologies. In recent years, the country has invested heavily in renewable energy, with a target of producing 30% of its electricity from renewable sources by 2023. The country's renewable energy potential is vast, with significant investments made in solar, wind, and hydropower. The government has introduced incentives to encourage investment in the renewable energy sector, such as tax exemptions, feed-in tariffs, and a net metering system. Türkiye's push towards renewable energy is a testament to its commitment to achieving its 2023 energy targets and reducing its dependence on fossil fuels. With the country's vast renewable energy potential and supportive government policies, there is a wealth of opportunities for investors looking to enter the Türkiye renewable energy market.
It is an exciting time for investors looking to enter the Türkiye renewable energy market, and Türkiye is taking great strides in both nuclear and renewable energy technologies.
If you're interested in learning more about importing renewable energy equipment to Türkiye or investing in the country's renewable energy market, please contact us for more information on how to get started.