ANKARA (Sputnik) — The Turkish Energy Market Regulatory Authority (EMRA) has granted Akkuyu Nukleer AS, which builds Russia-designed nuclear power plant, a 49-year license for electricity generation, local media reported Thursday.
The license is valid from June 15, 2017, the Anadolu agency reported, citing EMRA.
Akkuyu is the world's first nuclear power plant project implemented on BOO ("build-own-operate") basis. In accordance with this model, Russia will build, own and operate the plant.
Akkuyu NPP project includes four power units with Russian VVER-1200 3+ generation reactors. The capacity of each power unit of the NPP will be 1,200 megawatts (MW). Russia's investments in the project will amount to $22 billion.
The Turkish side expects the first unit of Akkuyu NPP to start generating electricity on October 29, 2023 on the centennial anniversary of Turkish Republic.