Turkish Conglomerate IC Holding Eyes 20 Small Modular Reactors in US Pact

Turkish developer IC Holding is preparing to establish up to 20 small modular reactors across Türkiye and neighboring regions through a strategic partnership with U.S. nuclear designer ARC Clean Technology.

The initiative centers on the deployment of the ARC-100, a sodium-cooled nuclear system.

Under an agreement formalized in April, the Turkish conglomerate will construct 10 reactors domestically. This initial phase will yield a cumulative capacity of 1,000 megawatts.

Another 10 units are slated for export markets in bordering nations.

10 Reactors at Home, 10 Abroad

IC Holding aims to build 10 reactors with a combined capacity of 1,000 megawatts in Türkiye, alongside 10 more in neighboring countries.

Each ARC-100 reactor generates 100 MW. Türkiye targets 15 gigawatts of conventional nuclear capacity and 5 GW of SMR capacity by 2050.

This is on top of the four-reactor, 4,800 MW Akkuyu plant, with additional large-scale stations planned in Sinop and Thrace.

Licensing Split Between Regions

IC and ARC are negotiating a licensing agreement under which IC would commercialize the technology across Türkiye, Eastern Europe, the Middle East, and Central Asia, while ARC focuses on North America and Europe.

The goal is "not only an SMR project in Türkiye, but also a long-term technology platform for developing, licensing, localizing, and commercializing SMR technology," said the chair of IC Nuclear Technology, Murat Bayar.

Timeline and Costs

Bayar expects the first ARC-based commercial SMR to enter operation in the U.S. or Canada within four to eight years, with Türkiye's project following, according to Daily Sabah.

IC aims for Turkish regulatory approval within four years.

He estimated the first Turkish plant would cost around $500 million, or $5 million per MW, and would drop to roughly $300 million, or $3 million per MW, as the technology matures.

IC plans to serve as investor, engineering contractor, and operator for the first project, and will sell electricity through bilateral power purchase agreements, though it does not currently plan to enter the nuclear fuel business.