Russian Energy Minister Sergei Shmatko said on Sunday (May 9th) that an agreement to build Turkey's first nuclear power plant has been reached at the governmental level.

Speaking to the Cihan news agency, Shmatko noted that while the unit price of electricity is set for the energy generated by the plant, it is too early go public with the details.

The power plant will be the first of its kind, as Russia will own and guarantee electricity supplies after construction.

Following the cancellation of Turkey's first nuclear power plant tender at the end of last year, the government sought ways to agree with Russia in an effort to finalise the issue and launch construction.

After some public haggling over costs, the Russian-Turkish consortium of Atomstroyexport, Inter RAO and Park Teknik dropped its price per unit (kWh) enough to proceed.

The deal is expected to be announced during Russian President Dmitry Medvedev's historic visit to Ankara this week.