Turkey’s Second Nuke Plant to Cost $25 Billion

From Hurriyet Daily News

Turkey’s second nuclear power plant, slated to be built in the northern province of Sinop, will cost around $25 billion, Turkish Energy and Natural Resources Minister Taner Yıldız said at a press event Feb. 12.

“The second nuclear power plant will require an investment worth between $22 billion and $25 billion,” he said during the Turkish National Committee of World Energy Council conference.

Turkey needs to diversify its energy resources with sources such as nuclear power. Several countries have asked to build the nuclear power plant, which will possess four units, he said. Yıldız underlined that they had received new offers from countries and companies as the competition heats up.

The country generated 4,100 more megawatts of power last year, bringing the total to 58,000 megawatts, he said.

Search for domestic oil

Turkey’s energy demands are increasing because it is a growing country, said Yıldız, adding that they aimed to satisfy such needs through domestic renewable energy resources.

The minister also said crude oil and natural gas, which were imported, should be provided by domestic resources, adding that an oil exploration fund had risen 13 times in the last 10 years.

“We will find oil, if it exists [in Turkey],” he said. “While a barrel of oil cost $22 10 years ago, it has jumped to around $122 today.”

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