On December 13, 2010 in Ankara representatives of Rosatom State Corporation obtained a certificate of registration of a project company- Akkuyu NPP Joint-Stock Power Generating Company in the trade register in Ankara (Turkey).

The founders of the new joint-stock company were four companies of Rosatom State Corporation management contour: Atomstroyexport CJSC (the project operator), Rosenergoatom Concern OJSC (operates all Russian NPPs), Atomenergoremont and Atomtekhenergo as well as INTER RAO UES OJSC.

On 12.11.2010 these organization were authorized by the RF Government for participation in the project and establishment of a project company (Order No. 1995 — р of November 12, 2010).

Shares in the charter capital of the project company for Akkuyu NPP construction were allocated in the following way: Atomstroyexport CJSC — 33.33%, INTER RAO UES OJSC — 33.33%, Rosenergoatom Concern OJSC — 31.34%, Atomenergoremont OJSC — 1% and Atomtekhenergo — 1%.

Subject to the conditions of the bilateral agreement for cooperation in construction and operation of Akkuyu NPP, 100% of the project company shares shall be initially owned, either expressly or by implication, only by the companies, authorized by the Russian Government. The project company successively puts power units Nos. 1, 2, 3 and 4 into commercial operation (at one-year intervals after beginning of commercial operation of power unit No.1).

Under the agreement Turkish TETASH guarantees purchase from the Project Company of a certain amount of electric power to be generated by the NPP — 70% of power generated by power units Nos. 1 and 2 as well as 30% of power generated by power units Nos. 3 and 4 within 15 years after beginning of commercial operation of each power unit at the weighted average price equal to 12.35 US cents per kWh. The rest of the energy generated is to be sold by the company at the free energy market on its own or through a retail energy supplier.

Parameters of the project company for Akkuyu NPP construction were developed with the assistance of legal advisers — Turkish Bezen & Partners and international Allen & Overy in strict adherence to legislative regulations of the Republic of Turkey.

Agreement for cooperation in construction and operation of the nuclear power plant at Akkuyu site was signed by the Russian and Turkey Government on May 12, 2010. Subject to the conditions of the agreement, the competent authority appointed by the Russian party for execution of the intergovernmental agreement is Rosatom State Corporation. On July 15, 2010 the Turkish parliament ratified the intergovernmental agreement for cooperation in construction of Akkuyu NPP. On July 21, 2010 the Turkish President approved the resolution of the Turkish parliament concerning ratification of the agreement which was published in the official paper (Law No. 27648 of July 21, 2010) and thus, the agreement came into effect. The agreement was introduced into the RF State Duma by Resolution of the RF Government of September 24, 2010. On November 19, 2010 the State Duma ratified the agreement. On November 24, 2010 the ratification documents were approved by the Federation Council. On November 29, 2010 the RF President signed the Federal Law “On Ratification of the Agreement between the Government of the Russian Federation and the Government of the Republic of Turkey for Cooperation in Construction and Operation of the Nuclear Power plant at Akkuyu Site in the Republic of Turkey” (322-FZ of 29.11.2010). The Law was published on December 3, 2010 and came into effect on December 13, 2010.