OREANDA-NEWS. October 25, 2010. Minister of Energy and Natural Resources of Turkey Taner Yildiz expressed his hope for fast ratification by the State Duma of the intergovernmental agreement for construction of the first Turkish NPP.

The Russian-Turkish agreement for construction of an NPP nearby the Mediterranean port of Mersin (Akkuyu site) was signed on May 12 in Ankara in the course of RF President Dmitry Medvedev’s visit to Turkey. At the beginning of October the RF Government introduced the specified agreement for ratification by the State Duma.“At present the agreement is under the Duma consideration. I think it’ll be ratified within a month”, the minister said to RIA News on Thursday.

The project of construction of the first Turkish NPP provides for construction of four power units with VVER reactors (pressurized water reactors) of 1.2 GW each, according to the NPP-2006 Russian project.

Under the agreement a project company in the form of a joint-stock company is to be established, 100% of its shares to be owned initially by organizations authorized by the Russian party.

The project company is to be the owner of the NPP and the energy generated. Under the auspices of the Russian party it’ll put the first power unit into commercial operation within seven years after issuance of all documents, permissions, licenses, agreements and approvals required for commencement of construction. Power units from second to fourth will be put into operation at a year intervals after commencement of commercial operation of the first power unit.

The cost of construction of the first Turkish NPP may amount to nearly 20 billion dollars. Under the terms of the agreement, at the initial stage the Turkish NPP project will be financed from Russian sources, in the future investors are to be attracted both from Turkey and the third countries.

The Turkish minister also said that the parties “had determined the basis” for sale of electric power to be generated by the NPP.

“The volume of the guaranteed purchase of electric power has been determined. For the first and the second power unit it (guaranteed purchase) will be equal to 70%, for the third and the fourth — 30%. Thus, within 15 years 50% of electric power will be sold. The remaining 50% will be sold at the free market”, the Turkish Minister of Energy noted.

According to him, RF and Turkey are not discussing a project of another NPP construction. “The issue of the second NPP construction (with RF participation) is not on the agenda now”, Head of the Turkish Ministry of Energy said.