Japanese and French ECAs to finance Turkey's second nuclear plant

(Daily Sabah, Istanbul, 25 February 2019) Turkey's second nuclear power plant to be built in Sinop under a Japanese-French partnership, will make a breakthrough by obtaining a ground license this year. The plant, which will have an installed capacity of 4,480 megawatts (MW) and consist of four reactors with a 1,120-MW capacity each, will cost $20 billion. The Japanese and Turkish governments agreed in 2013 on the project to be built with a Japanese-French consortium in the Black Sea province of Sinop. The bulk of the project would be financed by Nippon Export and Investment Insurance (NEXI), Japan's export credit agency, and French credit insurer Coface.