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Sovereign Wealth Fund «Samruk-Kazyna» JSC

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Ekibastuz Gres-2 to pass under the control of Kazakhstan

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12.12.2019 00:00

Samruk-Kazyna SWF JSC completed the acquisition of a 50% stake in Ekibastuz State District Power Station-2 JSC from Inter RAO, a Russian energy company. Thus, an important electric power asset completely came under the control of the Republic of Kazakhstan.

Recall that a joint Kazakh-Russian enterprise, the shares of which were owned on a parity basis by Samruk-Energy JSC and Inter RAO PJSC, was created in 2005. For the Kazakhstan side, the priority activity of the Company was the installation of the third power unit at 636 MW as part of the expansion and reconstruction of the station. The implementation of this project would help to meet the growing needs of Kazakhstan in electricity and electric capacity and increase its export potential.

In 2009, within the framework of an agreement between the Governments of the Republic of Kazakhstan and the Russian Federation, Ekibastuz State District Power Station-2 JSC launched the project Construction of Power Unit No. 3 of Ekibastuz State District Power Station-2. In 2010, the corresponding design and estimate documentation was developed and passed the state examination. Based on this, it was decided to redeem a 50% stake in Ekibastuz State District Power Station-2 JSC.

The acquisition of full control over the station and the implementation of the project for the construction of the 3rd power unit at TPP-2 will contribute to increasing the country's energy independence. At present, there is a need to commission new generating capacities in Kazakhstan. To ensure the growth of the national economy, it is necessary to ensure the accelerated development of the electric power industry.

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