A recent statement made by Akkuyu nuclear company indicated that Rosatom is looking to sell 49 % of Akkuyu shares, due to the lack of cash flow and financial assets. The company representatives declared recently that negotiations are still ongoing with the consortium of Cengiz-Kolin-Kalyon.
In addition, as the Turkish government offered to Akkuyu an purchase guarantee of 12.35 US Dollars per kilowatt-hour for 15 years under a Build-Operate-Own method.
But the Russian owner will operate the plant for 60 years and then transfer it to Turkey. The price, which was already expensive when the agreement was signed is now rising with a strong dollar and a weak Turkish Lira (the cost of electricity in Turkey in 2017 is 4 to 5 US Dollars per kilowatt-hour).
The US Dollar is currently moving around at 3.45-3.46 levels, much higher than the 1.50-1.60 levels at the time of the signing of the deal.
It is not yet clear whether President Erdogan and Energy Minister Albayrak, will put the agreement into execution despite the pressure of the US Dollar, but the President will have to balance between its energy strategy and the economic cost to the country.
