Russia will start construction of Turkey's first nuclear plant Akkuyu in 2018 once it finalises all necessary licenses and permits by this year end.
Contracting parties are working to obtain the last of the licenses for Akkuyu, Russian Energy Minister Alexander Novak told Anadolu Agency Sunday.
"We will start construction at the beginning of 2018 and once the first unit is completed, we plan to start operations at the plant in 2023," Novak said.
In June 2017, Russia's Rosatom and Turkish consortium Cengiz-Kolin-Kalyon signed an agreement for construction of the plant. The plant is estimated to meet around 6-7 percent of Turkey's electricity demand.
The nuclear plant will have a capacity of 4,800 megawatts in four units and a working lifetime of 8,000 hours per year. In the first phase of construction, two units with a capacity of 2,400 megawatts are planned.
The plant's 49 percent stake will be divided among the Turkish consortium of three while the remaining 51 percent of Akkuyu's shares will remain with Rosatom.