Candu Energy signs MOU with Turkey's EUAS for Sinop Plant

During a ceremony at World Energy Council's World Energy Leadership Summit today in Istanbul, Canadian nuclear firm Candu Energy and Turkish state power generator EUAS signed a Memorandum of Understanding (MOU) regarding the construction of a new nuclear plant at the Black Sea port of Sinop.

"Today's deal underlines Turkey's strong commitment on nuclear power plants," Turkish Energy Minister Taner Yildiz said, quoted by the Anatolia news agency. "This is a serious proposal."

According to Candu Vice President Ala Alizadeh, the projected cost of the project is $20 billion. He also said the two companies would use the upcoming months to work together on feasibility studies, predicting the project could be able to begin in about a year.

Chinese company CNI23 would also be involved, Alizadeh added.

Meanwhile, Turkey continues talks with South Korea, Japan and China on building the Sinop plant. In 2010, Turkey signed a similar MOU with Japan.

The Turkish government hopes to build three nuclear power plants within five years. In a message sent to the summit, Turkish prime minister Recep Erdogan said at least ten percent of new power generation for the country will come from nuclear power.

The Sinop plant would be Turkey's second nuclear power station. Turkey reached an agreement in 2010 with Russia to build, own and operate four reactors at Turkey's first nuclear site at Akkuyu

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