Kazakhstan to Invest $12.9bln into Launching of New Electric Generating Facilities

Oil&Gas Materials 7 September 2008 14:51 (UTC +04:00)

Azerbaijan, Baku, 7 September / Trend corr. E.Khankishiyeva/ їPower production in Kazakhstan will total 145bln KW/hour and consumption ї 140.3bln KW/hour by 2020,ї the president of JSC Kazakhstan Electric Grid Operating Company (KEGOC) Almasadam Satkaliyev said at the Third Eurasian energy forum Global Challenges ї Energy Solutions.

Energy production will comprise 94.8bln KW/hour and consumption ї 95.2 KW/hour in 2010; 127.2bln KW/hour and 124.6bln KW/hour respectively in 2015.

According to Satkaliyev, Kazakhstan plans to put into operation new generating facilities with the capacity of 8,164 MW. The investments will comprise $12.9bln.

Investments in Kazakhstanїs national energy grid will total $1.6bln and in the regional grids - $7bln by 2015.

Economic potential of renewable energy resources in Kazakhstan is 7.5bln KW/hour per year of small hydroelectric power stations), 3.0bln KW/hour per year of wind energy and 1.0bln KW/hour per day of solar energy.

Kazakhstan also intends to develop nuclear power engineering. According to Satkaliyev, prerequisites for that are uranium reserves ї 19% of world reserves, uranium exploration and production infrastructure (Kazatomprom JSC). Volume of uranium production is 6,600 tons per year (2007) and 15,000 tons per year (forecasts for 2010).

KEGOC JSC was established by the Kazakhstan governmental decree in 1996. Holding Samruk owns 100% of KEGOC stocks. The authorized capital of the company totalled 75.6bln tenge.