This was announced by the Head of the Fund Nurlan Zhakupov at themeeting with the Akim of the city Yerbolat Dosayev. “We held constructive negotiations with the Akimat of Almaty on joint work for modernization of the city’s energy sector. It is gratifying to see full understanding and willingness of colleagues to synchronize efforts. We will invest in the creation of new gas, hydro and wind power plants in the region. The Akimat promised to provide us with full assistance”, - Nurlan Zhakupov said.

According to him, now Samruk-Kazyna is implementing several projects at once to improve the quality of life of people in the metropolis. For example, it is planned to switch Almaty thermal power plants from coal to gas in order to reduce air pollution in the city and the surrounding area and cover the growing energy consumption. To do this, new gas pipelines and heating mains need to be brought to the stations. “Such a project can be implemented only by a large holding company, such as Samruk-Kazyna, where there are both energy and gas companies, and a transmission line operator. I am sure the whole city is looking forward to it”, - Nurlan Zhakupov said.

Thus, over the past few years, much has been done for the development of Almaty’s electric networks. 38 substations and electrical networks were built, which made it possible to create a ring around the city by combining KEGOC support substations and AZHK node substations.

Nurlan Zhakupov also visited the CHP-2 in Almaty, which is planned to convert to gas. According to the manager, “in fact, new gas-fired power plants will be established next to the existing coal-fired ones, and the coal-fired ones will then be mothballed”. “The construction of new power plants is an extremely large-scale and expensive project. In this regard, the Fund is actively attracting investments from all over the world, because new energy capacities make up the bulk of the priority projects of Samruk-Kazyna. The Fund’s Group of Companies subsidizes indirectly the economy by more than KZT1.2 trillionannually. This is the amount that either our portfolio companies take at a loss below cost, or for which services are sold below market value. That is, the Group receives less than KZT1.2 trillion annually and thus indirectly subsidizes the economy”, - the speaker added.

For information:

Modernization of the Almaty CHP-2 with minimization of environmental impact will be carried out until 2026. Its cost according to the TEA is KZT324.1 billion. Financing scheme: own funds - 9%, Fund means – 11%, borrowed funds – 80%. The EPC contract is planned to conclude in Q2.

Reconstruction of the Almaty CHP-3 on the basis of the CCGT with an increase in the capacity of the station to 450 MW is planned until 2025. Its cost according to the feasibility study is KZT 272.9 billion. Financing scheme: Internal loan - 20%, borrowed funds – 80%. The EPC contract is scheduled to conclude in July 2023.

In addition, it is planned to reconstruct the cable networks of Almaty until 2030. The preliminary cost of the project is KZT83.3 billion. Financing scheme: funds of Samruk-Kazyna JSC - 12.3%, borrowed funds – 87.7%. Thanks to this, it will be possible to reduce the wear of electrical networks, electricity losses (from 10.7% to 7%, the effect of ~ 1.4 billion KZT / year), the costs of the repair campaign (savings of ~ 300 million KZT / year) and increase their throughput by 30%. Construction and installation works started on April 1.