Energy Market Regulatory Authority Chairman, Mustafa Yılmaz, has announced that the $22 billion Akkuyu nuclear power plant project has been granted a 36-month pre-license.Yılmaz stated that the pre-license would allow the Akkuyu project to acquire the warrants, authorizations, and certifications required for initiating the investment of the power plant's construction. Yılmaz added that when all the prerequisites for the construction are met, the company that is responsible for the construction of the Akkuyu project would be granted a production license.According to the agreement signed between Turkey and Russia, Turkey's first nuclear power plant will be Akkuyu, which is expected to be completed by 2020 and will have four power units with a capacity of 1200 MW each. The power plant is estimated to cover 6 to 7 percent of Turkey's electricity needs with a working capacity of 8,000 hours per year.