Friday, March 16, 2007

Park Group applies to EMRA to establish a nuclear plant

Park Holding has applied to Energy Market Regulatory Authority (EMRA) to establish 1600 MWe electricity generating PHWR type nuclear power plant in Mersin Akkuyu. Park Holding's application is the first application for a nuclear plant in the new term. In an application it made to EMRA on Thursday, Park Holding Joint-stock Co. has declared its intention of establishing a nuclear plant in an area near Mersin. Akkuyu area in Mersin has an authorization for construction of power plants from Turkey Atomic Energy Association

Turkey's Park Holding has applied for a license to build the country's first nuclear power plant in Mersin on the Mediterranean coast, said Yusuf Gunay, president of the EPDK energy regulator. "It is pleasing that a company wants to build a [nuclear] power plant in free market conditions and without putting any burden on the state," said Yusuf Gunay. He added that this was the first application from a private company and that EPDK needed to decide on principles for such applications. Turkey's parliament is currently debating a bill that would allow the construction and operation of nuclear plants. It plans to hold a tender to construct a three-unit, total 5,000 MW nuclear power plant in one of two locations in Turkey, either on the Black Sea or Mediterranean. The Park Holding project could become part of this scheme. Under the nuclear bill, the government would offer purchasing guarantees to major producers to entice private firms. However, Park Holding has not asked for such a guarantee in its application. Turkey, a net importer of gas and oil, hopes to overcome a shortfall in electricity production through nuclear energy and an expansion of current coal-fired electricity generators. The proposed 1,600 megawatt plant is expected to produce 7.5 terawatt hours per year. Turkey's total electricity consumption was 174 terawatt hours in 2006. Park Holding is owned by Turkey's Ciner Group.

Ciner Group (Park Holding) has applied to the Energy Market Regulatory Authority (EPDK) for construction of a nuclear power plant in Akkuyu bay in southern city of Mersin. Sources told the A.A correspondent that Ciner Group applied to receive "production license" to establish a nuclear power plant which will generate 7.5 billion kWh of electricity a year in Akkuyu. Turkey's Atomic Energy Authority (TAEK) earlier granted a site license for the bay. After assessing the application, EPDK will release a statement in the coming days. No purchase guarantees demanded
Park Holding included a self-declared statement in its application that says the company does not a power purchase guarantee for the 1600 MW installed capacity nuclear plant. The company also made a commitment for the completion of the plant by 2015.

Licensing is expected to take at least 2 years and will cost about 50 m US Dollars


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