Moscow, June 19. – In Moscow, within the framework of the IX International Atomic Energy Forum ATOMEXPO, an agreement was signed on the main conditions for the entry of Turkish companies into the shareholders of the project company JSC AKKUYU NUCLEAR, which will build and operate the first nuclear power plant in Turkey.
Rosatom State Corporation adopted a decision to introduce into the project a consortium of Turkish companies, which included Jengiz Holding (Cengiz Holding A.Ş.), Kolin İnşaat Turizm Sanayi ve Ticaret A.Ş. and JSC "Kalyon İnşaat" (Kalyon İnşaat Sanayi ve Ticaret A.Ş.). The amount of the transaction is not disclosed until the signing of the Investment Agreement (Shareholders Agreement), which is expected before the end of 2017. As a result, the authorized capital will be formed in the amount sufficient for the implementation of the project. The signed agreement provides the possibility of attracting the necessary volumes of borrowed financing and will be the first in the world practice of external investments in nuclear power projects of BOO type ("build-own-operate").
The consortium will acquire a 49% stake in JSC AKKUYU NUCLEAR (AKKUYU NÜKLEER ANONİM ŞİRKETİ), which was established in Turkey to implement the Akkuyu nuclear power plant project. According to the intergovernmental agreement signed in 2010, at least 51% of shares should belong to Russian companies.
This is the largest investment of foreign companies in the projects of the Russian Federation, which are being implemented beyoond Rusia’s boarders, and the world's largest private investment in nuclear energy for the past 17 years. Turkish companies that are part of the Akkuyu nuclear power plant project have extensive experience in the construction and operation of energy facilities in the Republic of Turkey, including “build-own-operate” projects, which increase the efficiency of the project and contribute to the achievement of its strategic goals.
The combination of such strong shareholders will lead to a great synergetic effect in the implementation of the Akkuyu nuclear power plant project. Companies of the Turkish consortium are the leading sellers and distribution holdings in the Turkish electricity market. They occupy approximately 30% of the wholesale electricity market. The consortium plans to take an active part in the construction of the nuclear power plant, in the management of the project company AKKUYU NUCLEAR and in attracting the necessary loan financing. One of the consortium companies, Cengiz Holding A.Ş., is already participating in the Akkuyu nuclear power plant project as a contractor for the turnkey construction of offshore hydraulic structures.