Why the construction of the Akkuyu nuclear power plant for Turkey is a big mistake of Russia


In two years, the country's first nuclear power plant "Akkuyu", located on the southern coast, should start operating in Turkey. The day before, Presidents Putin and Erdogan solemnly launched the construction of its third power unit. Everything looks nice and friendly, but this project causes a very ambiguous attitude towards itself. What opportunities does the first Turkish NPP open up and, at the same time, risks for Russia?


Note that Turkey is not the first country for which we are building a nuclear power plant. Suffice it to recall Bulgaria, Czechoslovakia, Finland, Romania, the German Democratic Republic, and this is not taking into account the nuclear power plants built in Ukraine, Lithuania, Armenia and Kazakhstan. Today the market for this kind of services is very saturated, here the US, France, Japan, and now South Korea and China are pushing their elbows. Where then do doubts about the loyalty of the course chosen by Rosatom in the Turkish direction come from?

Let's start with the positive aspects of this project. In terms of its parameters, Akkuyu is impressive. These will be four power units with a total capacity of 4800 megawatts, which will cover up to 10% of Turkey's total energy consumption. It is believed that due to further urbanization by 2035, electricity consumption in the republic will grow from 290 billion kWh now to 500 billion kWh. Thanks to the commissioning of the nuclear power plant, Ankara will be able to significantly diversify its sources of energy supply. In one way or another, hundreds of Russian and Turkish contractor companies are involved in the construction, which contributes to the development economics both countries. Over 11 thousand new jobs have been created directly on the spot.

The service life of a modern nuclear power plant is approximately 100 years. This is 60 years of operation of VVER-3 generation 1200+ nuclear reactors, then it can be extended for another 20 years, and then the power units will have to be gradually decommissioned and disposed of. For this entire period, Turkey will depend on the services of Rosatom and the supply of Russian nuclear fuel by TVEL. Thus, Moscow gets a certain lever of pressure on Ankara. But this is where the positive ends.

At first, “Rostatom” went against the established world practice, applying in the case of “Akkuyu” a business model called “build-own-operate” (in English - BOO, Build-Own-Operate). Usually, a commissioned nuclear power plant becomes the property of the customer, and the construction contractor takes over the function of a technical consultant, and also supplies fuel, components and other consumables. Instead, the Russian state corporation created in Turkey its subsidiary Akkuyu Nuclear JSC, which owns 99,2% of the project, and therefore it will not only build it, but also own and directly sell electricity to the Turks. Accordingly, all responsibility for all possible incidents will rest on her.

Secondly, from this it follows that it is Russia, represented by its state corporation, that is the only investor in the Turkish power plant. Its cost is estimated at $ 22 billion, and all expenses are in the American currency. It should be understood that, given the fall in the ruble exchange rate against the "American", this pleasure is very expensive. But with the prospects for return on investment, not everything is clear. Here Rosatom again decided to follow the unbeaten path. If, for example, during construction in Western European countries, investors set a condition for the government to purchase electricity generated at a certain fixed price to guarantee the return on investment, then it turned out differently with Turkey.

Ankara agreed only to the fact that during the first 15 years of operation of the nuclear power plant, 12,35% of electricity from its two power units at a fixed tariff of 70 US cents per kilowatt hour, and only 30% from the other two. The rest of the volumes will be sold at market value. Moreover, the Turks managed to knock out the condition that after the release of Akkuyu to payback, receive 20% of its net profit. The beauty! We know how to do business in state corporations, you will not say anything. It is also stipulated that up to 49% of the NPP shareholding may go to Turkish or other international investors.

Thirdly, it should be borne in mind that Ankara is an extremely unpredictable and tough partner for Moscow. Turkey confronts Russia in several armed conflicts at once: in Syria, Libya, Nagorno-Karabakh, there is a prospect of its entry into the region of Central Asia, etc. At any moment, "Sultan" Erdogan may, on the basis of "environmental expediency", decide to close a nuclear power plant in his country, as, for example, Germany did. And nothing can be done about it: 22 billion Russian budget dollars will simply be thrown into the wind.

So there is still a big question, who really gets the leverage of political and economic pressure on whom ...
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  1. 123 Offline 123
    123 (123) 13 March 2021 15: 36
    +1
    Its cost is estimated at $ 22 billion, and all expenses are in the American currency. It should be understood that, given the fall in the ruble exchange rate against the "American", this pleasure is very expensive.

    This is at the time of signing the contract. What does the dollar exchange rate have to do with it? request The equipment is being built in Russia, all for rubles. Is Rosatom going to buy dollars at the new rate for construction in Turkey?

    the Turks managed to knock out the condition that after the release of "Akkuyu" to payback to receive from it 20% of net profit.
    It is also stipulated that up to 49% of the stake in the nuclear power plant can go to Turkish or other international investors.

    Don't you think that this is interconnected? They buy shares and make a profit. Even if these 20% are stipulated separately, then .... The payback period in Belarus was announced in 20 years, probably in Turkey about the same. In 20 years, Rosatom will return the invested funds and start selling shares (about half). That is, from the profit of Rosatom 10%, another 10% is essentially paid by investors. Without the rest of the details of the contract and the taxation system, it is rather difficult to draw a conclusion whether it is a lot or a little.

    At any moment, "Sultan" Erdogan may, on the basis of "environmental expediency", decide to close a nuclear power plant in his country, as, for example, Germany did. And nothing can be done about it: 22 billion Russian budget dollars will simply be thrown into the wind.

    Why would he? Moreover, part of the profits will go to the treasury. Erdogan must have been vaccinated against Greta's bites, but there are no eco-scholars from the European Commission in Turkey.

    So there is still a big question, who really gets the leverage of political and economic pressure on whom ...

    Few details about leverage and more:

  2. bear040 Offline bear040
    bear040 13 March 2021 15: 39
    +10
    This proves once again that Putin gathered around him frankly not smart people, and the construction of a nuclear power plant in Turkey with the money of the Russian Federation was an exceptional stupidity, or sabotage. The Turks can refuse to pay the bills at any time, as Ukraine has already done.
    1. Just a cat Offline Just a cat
      Just a cat (Bayun) 13 March 2021 16: 39
      -6
      Refuse and get a radioactive monument? not smart elsewhere.
      1. Wanderer039 Offline Wanderer039
        Wanderer039 13 March 2021 18: 27
        +11
        Remind you of how many Soviet-built nuclear power plants have closed in the EU ?! Turkey will not lose its money by closing the nuclear power plant, and it does not have to close the nuclear power plant, it will simply appropriate it and refuse to pay the debts of the Russian Federation, as Ukraine has already done. Do you consider yourself very smart ?! So you have already done with the motors that you bought in Germany and Ukraine, believing that the Russian Federation does not need its own industry and the state debt of Ukraine and much more, maybe you will finally retire, admitting your mistakes and repenting to the peoples of the Russian Federation ?! How long will you keep mowing smartly ?! It's time to go to the village, graze goats, all your Chubais, Serdyukovs and other smart guys!
        1. PokerFace Offline PokerFace
          PokerFace (Kirill) 20 May 2021 16: 56
          0
          The nuclear power plant is tailored for our fuel and where will it be taken if your option is implemented?
  3. Sergey Latyshev Offline Sergey Latyshev
    Sergey Latyshev (Serge) 13 March 2021 21: 53
    -2
    Ha. You are viewing everything from some kind of incomprehensible idiolistic angle. Both in the article and in a number of comments.
    And since it has been said that the former terrorist and murderer is now a "strategic partner", then "money does not smell," period.

    Edinstvenno - to legally protect property and contracts, so as not to be thrown, like Gazprom.
    But that is another question.
  4. maiman61 Offline maiman61
    maiman61 (Yuri) 14 March 2021 09: 28
    +3
    And what mistakes have Russia not made over the past twenty years?
  5. Oleg Bratkov Offline Oleg Bratkov
    Oleg Bratkov (Oleg Bratkov) 14 March 2021 11: 57
    -1
    First, the author is carrying a blizzard. All nuclear power plants on the territory of the country are the property of this country, and the country owns a complete set of technical documentation, and can dispose of it as it wants. All that a nuclear power plant manufacturer can do is to provide the best service and supply, for example, with fuel. But Ukraine, for example, switched from Russian nuclear fuel to American fuel, and nothing, everything is absolutely legal. Whoever wants to completely closes the NPP, who wants to change the service company. Turkey, upon completion of construction, can also switch to American fuel, this has already been rolled back at least in Ukraine. There are nuances, Russia supplies new fuel and takes out spent fuel, and the Americans only supply fuel, it is forbidden to return it to the United States by US laws, so the rods will have to be stored in Ukraine, however, this is also a proven technology.
  6. Igor Berg Offline Igor Berg
    Igor Berg (Igor Berg) 14 March 2021 19: 51
    +2
    Note that Turkey is not the first country for which we are building a nuclear power plant. Suffice it to recall Bulgaria, Czechoslovakia, Finland, Romania, the German Democratic Republic, and this is not taking into account the nuclear power plants built in Ukraine, Lithuania, Armenia and Kazakhstan.

    Not we, but the USSR built nuclear power plants on its territory in different republics and for other socialist countries at one time.
  7. Igor Pavlovich Offline Igor Pavlovich
    Igor Pavlovich (Igor Pavlovich) 14 March 2021 22: 01
    0
    So there is still a big question, who really gets the leverage of political and economic pressure on whom ...

    Since 500 billion dollars of the Russian elite are in our banks, you still need to figure it out: is it your elite or already ours?

    Zbigniew Brzezinski
  8. Vladimir Sh. Offline Vladimir Sh.
    Vladimir Sh. (Vladimir Shashko) 14 March 2021 22: 11
    0
    I would look at this question from the other side ... from which one? Well, at least with this: a new source of energy appears on the market, which means what? This means that another type of energy may be superfluous. So what? This means that when there is a lot of goods, its price falls ... i.e. it could be GAZ ... which will be brought to Europe by other suppliers .. for example the Saudis or the UAE ..
    1. Ivan Ivanov_20 Offline Ivan Ivanov_20
      Ivan Ivanov_20 (Ivan Ivanov) 19 March 2021 14: 00
      0
      E / en from gas is much more expensive than from nuclear power plants.
      And why should the Turks close the nuclear power plant? With increasing energy consumption ...
      Will you turn off your electricity out of harm to RAO UES?
  9. Dukhskrepny Offline Dukhskrepny
    Dukhskrepny (Vasya) 15 March 2021 11: 35
    +1
    You can always come to an agreement with the Turks. Unlike other NATO countries. Both Karabakh and Libya have shown this. On Syria, Russia, Iran and Turkey also agreed.
  10. Anatoly Pankov Offline Anatoly Pankov
    Anatoly Pankov (Anatoly Pankov) 17 March 2021 04: 37
    +1
    Strange formulation of the question in the part where Turkey can somehow act badly for our interests with this nuclear power plant. Just remember how many Turkish enterprises are located in Russia, and how we can respond to them. I don’t want to, but I’ll have to recall that since Russia actually saved the Turkish president from death during the coup attempt, no one should have any doubts that it remained strong enough to, if necessary, replay this case and destroy.
  11. Altdoch Offline Altdoch
    Altdoch (Andrei) 18 March 2021 13: 45
    0
    Building a station on the territory of a potential enemy, for your money, is a very rash decision. It is not known what will happen tomorrow, it can simply be nationalized, and Russia can be made an enemy, the example of the Ukrainians
  12. ATC Offline ATC
    ATC (vladimir krukin) 25 March 2021 21: 14
    0
    Only narrow-minded people want to deal with Erdogan and Turkey. Remember my words, Turkey will be complicit in several military conflicts with Russia.
    1. Friend of the People_2 (Kirill Vetrov) 30 March 2021 18: 24
      0
      These are not narrow-minded people. They are traitors, traders with families abroad
  13. igor.igorev Offline igor.igorev
    igor.igorev (Igor) 26 March 2021 10: 04
    0
    I liked the word LIKE very much. Author, what does this word mean? After reading this word, I did not read the rest.
  14. nik7551 Offline nik7551
    nik7551 (Nikolay Lomakin) 30 March 2021 03: 00
    +1
    The state of the nuclear power industry and the general economic situation in Russia do not allow starting long-term and financially intensive projects in other countries. If Rosatom has free funds (subject to the fulfillment of obligations to maintain nuclear power plants in Russia and after full payment of taxes), the Russian government, after considering the project and risks in international relations, may authorize construction at Rosatom's own funds.
    So, only in this way and not in any other way should every responsible citizen reason.
    Unfortunately, I am not aware of Rosatom's financially successful foreign projects and I am aware of the constant subsidies from the RF budget and Rosatom's tax adjustments.
  15. Friend of the People_2 (Kirill Vetrov) 30 March 2021 18: 22
    0
    C400 was also sold to Turkey. Well settled down, while some guys howl others sell. ...
  16. Valentin Spagis Offline Valentin Spagis
    Valentin Spagis (Valentin Spagis) April 8 2021 08: 39
    0
    The project is certainly risky precisely because of the political risks. But since Russia has decided to take risks, there is nothing extraordinary in this.
  17. Alexander VI Offline Alexander VI
    Alexander VI (Alexander VI) April 8 2021 18: 44
    +1
    Previously, any project was evaluated in terms of economic efficiency, payback periods, etc. And now what?
    At the end of March, Russian gas supplies to Turkey fell seven times compared to the same period last year - from 1,418 billion to 210 million cubic meters. In March, Blue Stream and Turkish Stream were used at about 10 percent of their total capacity.
    The amount of Gazprom's loss in 2020 amounted to 706 billion rubles. That's almost $ 10 billion.
    According to the Federal Customs Service, Russia has completely lost the Turkish gas market - supplies to Turkey accounted for 0,01% of Gazprom's total exports, or 2 million cubic meters out of 11 billion that were exported. Turkey has completely switched to gas from Azerbaijan, its largest supplier, Iran, Qatar, Nigeria and the United States.

    Such are the "projects" with "partners" ...
  18. vitaly savkin Offline vitaly savkin
    vitaly savkin (vitaly savkin) April 11 2021 18: 49
    0
    Why are you all so alarmed? The Russian Federation, represented by ROSATOM, is building a place that, in the event of military actions by Turkey against the Russian Federation, will simply become a radioactive channel similar to the Bosphorus and the Dardanelles. After all, when, under the USSR, Turkey allowed the placement of nuclear weapons on its territory when the USSR placed them in Cuba. Then the then Minister of Foreign Affairs A.A. Gromyko sipping coffee at a reception with his colleague, the Turkish minister said that if Turkey places nuclear weapons at its place and blocks the passage of the Soviet Navy to other seas, then 2 missiles will be enough to lay a new channel, but it would be a pity for Ankara with its population! But it was a beautiful city? !!!. And everything was decided instantly.