Russia’s state nuclear corporation Rosatom is in talks to sell a minority stake in Türkiye’s Akkuyu nuclear power plant project to external investors as the company seeks to ease financing pressures.

Rosatom is considering divesting up to 49% of the project, either as a single block or by selling stakes to multiple investors. Any potential transaction would be carried out in coordination and agreement with the Turkish side, The Caspian Post reports, citing Izvestia newspaper.

Under a 2010 intergovernmental agreement between Russia and Türkiye, the Russian side is required to retain a controlling stake of at least 51% throughout the project’s lifecycle.

Efforts to attract investors have been made previously. Among the early prospective participants was businessman Ahmet Çalık, who is considered close to Turkish President Recep Tayyip Erdoğan.

Analysts say a sale of up to 49% could significantly improve Rosatom’s financial position as it continues to finance the multi-billion-dollar project.

The Akkuyu plant, Türkiye’s first nuclear power station, will consist of four power units equipped with Russian-designed VVER-1200 Generation III+ reactors, each with a capacity of 1,200 megawatts. Once fully operational, the facility is expected to generate around 35 billion kilowatt-hours of electricity annually, meeting more than 10% of Türkiye’s energy demand.

The project is also expected to reduce Türkiye’s reliance on imported gas, coal and oil. Electricity generation at the first unit is planned to begin by the end of this year, according to earlier reports.