Sberbank will lend JSC Akkuyu Nuclear (a Rosatom company) a total of $800 million for the construction of the Akkuyu nuclear power plant in Turkey, the credit organization said in a press release.
"Sberbank will provide Akkuyu Nuclear (a Rosatom State Corporation company) with credit facilities for the construction of the Akkuyu nuclear power plant in Turkey. For this purpose, the bank has opened two credit lines to the client in the amount of $500 million and $300 million for seven years. The funds will be used for the construction of four units of the station", stated in the message.
According to Anatoly Popov, Deputy Chairman of the bank's Management Board, in 2019 Sber became the first lender to Rosatom's large-scale international project to build a modern nuclear power plant in Turkey, opening a $400 million credit line, and the next round of financing will allow Sber to maintain its leading position among lenders to the project.
"Today all the four units are under construction at different stages. With the licensing for the construction of Unit 4 in October, we have completed the NPP construction licensing process and are nearing the peak of the construction work. Russian banks are supporting the project of sustainable, low-carbon power generation and are readily responding to our borrowing needs," said Anton Dedusenko, Deputy Chairman and Managing Director for Sustainable Development and Shareholder Relations of Akkuyu Nuclear JSC.
Akkuyu NPP is the first nuclear power plant to be constructed in the Republic of Turkey. Once all four units of the plant are commissioned, it will generate about 35 billion kWh per year and will cover up to 10% of Turkey's electricity needs.
GSV "Russia - Islamic World"
Photo: Rosatom
Based on materials from TASS