Turkey taps Canada's AtkinsRealis for nuclear expansion study

What was agreed

AtkinsRealis Group Inc., the Canadian engineering firm, and state-owned Turkiye Nukleer Enerji AS signed a memorandum of agreement to chart options to broaden Turkey's energy strategy. The parties signed the agreement during the COP31 climate gathering in Antalya, and the feasibility work is slated to finish by year end 2027.

The timing lines up with diplomacy. The deal followed by three weeks Canadian Prime Minister Mark Carney's trip to Turkey, where he discussed energy with President Recep Tayyip Erdogan.

The wider buildout

Turkey aims to add two more nuclear plants beyond its first facility, which Russia's Rosatom is building. Talks with Canada and South Korea are described as advanced, and Turkey is also in discussions with China and Russia about future projects.

Momentum is building on the financing and cooperation side too. South Korea signed memorandums of understanding with Turkey last week that cover energy collaboration and funding for nuclear projects.

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Technology and regional plays

Two related threads are running in parallel. A second plant in Sinop on the Black Sea is under evaluation by Turkiye Nukleer Enerji AS, and separately, AtkinsRealis has put forward six Enhanced Candu 6 reactors with a combined capacity of 4,500 megawatts.

AtkinsRealis' Canadian Candu technology has been operating in Romania for roughly three decades, and the company is also competing for a project to build a new reactor facility in Poland. As CEO Ian Edwards put it, "If we could secure Poland and Turkey, then we've got this ecosystem on the east of Europe that's beginning to build out," adding, "That is attractive also to the countries as well as attractive to AtkinsRealis in Canada."

Why it matters for your portfolio

The study signals Turkey is lining up multiple vendor options while it accelerates its nuclear build. For investors, that means tracking contract awards and financing frameworks across Turkey, South Korea, Canada and potential Chinese or Russian participation, with knock-ons for reactor suppliers and construction firms tied to those decisions.

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