Moscow is helping Ankara build the power plant, which should eventually supply 10 percent of Turkey'selectricity needs.
"Thus we will have made our energy basket - still largely reliant on petroleum, natural gas and coal - more robust", he added.
Putin is on a trip to Ankara where he will sit with Erdogan and Iranian President Hassan Rouhani on Wednesday to discuss the latest developments in Syria.
Relations between Russia and Turkey soured badly after Turkish jets shot down a Russian warplane near the Syrian border in November 2015, but Putin and Erdogan have taken steps to mend ties since then as their countries' relations with the West continued to deteriorate.
Erdogan told the news conference Turkey may cooperate with Russian Federation on defense projects besides the S-400 missile defense system which Moscow has agreed to supply to Ankara.
The plant, comprising four units, each with a capacity of 1,200 megawatts, will be built by the Russian State Nuclear Energy Agency, Rosatom.
The first block of the Akkuyu NPP is planted to be started in 2023.
The Russian leader was driven to the vast presidential palace surrounded by an escort of Turkish troops in ceremonial dress on horseback and was warmly greeted by Erdogan who was waiting in person at the gate.
He pointed out that the nuclear power plant would enhance Turkey'spotential in science and technology and provide Turkish consumers with clean and low-priced electricity.
"You can hear about new targets any time soon", said Erdogan at an opening ceremony in Istanbul.
He highlighted that Akkuyu Nuclear Power Plant would be a symbol of the Turkish-Russian friendship.
"The agreement will see both parties contribute $500 million to the Fund. Investments will be made in projects that strengthen trade, economic and investment ties between Russian Federation and Turkey. It has been decided by TAEK to grant a construction license for the first unit of Akkuyu NPP", the atomic energy authority said.
"The Akkuyu plant will be the 56th nuclear plant constructed in the world", Erdogan said via a video teleconference held at the presidential complex in Ankara.
Cyber Monday 2017 – The top sellers in electronics this year
Apple’s 9.7-inch Wi-Fi enabled iPad Pro was also still a great seller thanks to massive price discounts from retailers. Microsoft dropped their game changing console update, the Microsoft Xbox One X with a 1TB hard drive and 4K compatibility.
Total integration of fitness apps may be the next step.
An example of a simple, natural replacement item in this instance is the Under Armour Gemini 3 RE smart shoes. Not their departure, by any means, but the total integration of their smart features into our everyday items.