Nuclear investment signal from the US to Türkiye! Financing is ready, eyes on the projects

Justin Friedman, Senior Advisor for Nuclear Energy at the US Department of State, said that leading US financial institutions are ready to provide financial support for nuclear energy projects to be developed in Türkiye, especially small modular reactors, and that the right projects are awaited for investment.

Friedman made statements within the scope of the 11th Nuclear Power Plants Summit-NPPES 2025, organized in cooperation with the Ankara Chamber of Industry and the Nuclear Industry Association with the support of the Ministry of Energy and Natural Resources, of which Anadolu Agency is the Global Communications Partner.

Friedman, who pointed out that the US aims for a long-term partnership with Turkey, said, "As someone who worked as a political advisor in our embassy in Türkiye 10 years ago, I know that this is our long-term goal. Nuclear is a part of that, and we hope to expand and develop this partnership by working together on nuclear energy."

Friedman stated that Turkey has the potential to become a leader in the field of nuclear energy, considering its "clear and determined" target of 20 gigawatts of installed nuclear power and the interest shown by companies in this area, and noted the following:

"During my visits here, I met with about five major Turkish industrial companies. All of them want to use nuclear energy not only as part of the supply chain but also for their own energy needs. So the companies also have a desire in this direction. The other element is that the roadmap is clear. In this direction, we are working with the Turkish government, sharing information and best practices to contribute to the development of regulations that will enable Türkiye to assume leadership in this area. In other words, when the goals are combined with a clear roadmap, Türkiye can be a leader."

Stating that a natural and organic cooperation is foreseen between the US and Turkey in the field of small modular reactor technology, Friedman said, "Turkish companies provide parts, materials and services to nuclear projects abroad. It is natural for US companies to want to benefit from this expertise. US companies want to establish partnerships because they believe that it is in their interest to access the highest quality products and services at the most affordable prices."

Stressing that the US and Türkiye have a deep friendship and good partnership, Friedman said, "We want this partnership to develop in the nuclear field as well. We see signs that both sides want to move in this direction."

Evaluating the possibility of an agreement between the two countries in the field of nuclear energy in the near future, Friedman said, "I hope there will be an agreement soon. I would like to be part of the team that develops this agreement."

AFTER POLAND AND ROMANIA, Türkiye MAY BE NEXT

Friedman said that American financial institutions EXIM Bank and the US International Development Finance Corporation (DFC) have committed to being part of the worldwide nuclear movement and have issued letters of intent totaling more than $17 billion for nuclear projects in Romania and Poland.

Friedman, who stated that these organizations are also interested in Türkiye, said, "I know that they are also looking for opportunities in Türkiye. They have programs that will support progress, especially in the small modular reactor field. We are waiting for the projects to come so that we can match them with financing. In other words, they are ready, they are just waiting for good projects to come."

Friedman, drawing attention to the fact that the world is going through a period where ideas are being transferred to concrete implementation in the nuclear energy sector, said, "The US is increasing its efforts in the field of nuclear energy under the administration of President Donald Trump. We aim to increase our nuclear capacity from 100 gigawatts to 400 gigawatts by 2050. This is a very ambitious goal and that is why the US is a leader in this field worldwide."

Friedman, who stated that they were pleased with the World Bank's announcement that it would lift the ban on funding nuclear energy projects, said, "This is an important step that the US has wanted for a long time. The World Bank moving in this direction is a very strong signal. It is important not only for the financing that the bank can provide, but also for the message that it sends to private capital markets that 'nuclear is a good investment, a safe investment.'"