Turkey has received $9 billion in new financing from Russia for the construction of the Akkuyu nuclear power plant, said Alparslan Bayraktar, Minister of Energy and Natural Resources.

Russia’s Rosatom is building Turkey’s first nuclear power station in the Mediterranean province of Mersin under a $20 billion agreement signed in 2010. The plant was originally scheduled to begin operations this year, but has faced delays.

Bayraktar said the newly secured financing is expected to be deployed mainly in 2026 and 2027, with $4–5 billion anticipated to be used in 2026 as part of foreign funding inflows. According to Reuters, the plant has been delayed after Germany’s Siemens Energy withheld key parts, prompting Russia’s Rosatom, the builder and owner, to buy them in China.

Beyond Akkuyu, the minister said Turkey is holding discussions with South Korea, China, Russia, and the United States regarding potential nuclear projects in the Sinop province and the Thrace region, stressing that Ankara is seeking the most competitive proposals.

Bayraktar also highlighted Turkey’s broader energy diversification plans, noting ongoing talks with Saudi Arabia’s ACWA Power over a 5,000-megawatt solar energy package. He said an agreement for the first phase, covering 2,000 megawatts (MW), is expected to be completed in the first quarter of 2026, with projects planned in Sivas and the Taşeli region.

In addition, Turkey is in discussions with another Gulf-based company on a combined solar and energy storage project, which could involve investments of between $1.5 billion and $2 billion, Bayraktar said, without disclosing further details.