Japanese Consortium Set for Turkish Nuclear Power Deal

Ample energy is necessary for strong economic growth, and Turkey is moving ahead on a deal to construct a second nuclear power plant in cooperation with Japan and France. It’s the first overseas project for Japan since the Fukushima disaster in 2011 and the second nuclear plant for Turkey. Russia is constructing Turkey’s first nuclear power plant and is absorbing all risk to establish itself as a nuclear exporter. Turkey will take on half the risk of the second nuclear project, with Japan and France sharing the other half. The Financial Times reports that the deal, not yet finalized, is “economically and symbolically significant for Japan,” “given the blow to its safety reputation” after the Fukushima disaster and “a boost for France’s nuclear industry” after the German decision to discontinue plans for nuclear power. – YaleGlobal