Inter RAO expects to sign contract for designing two TPPs in Kazakhstan in 2025 if decision on financing made

MOSCOW. Aug 14 (Interfax) - The issue of organizing financing for the construction of thermal power plants in Kazakhstan is currently being worked out at the level of the Finance Ministry and the Russian government, Alexander Kiselev, a member of Inter RAO's management board for strategy and investments, said during a conference call with analysts and investors.

"Subject to a positive decision, in 2025 we expect to sign contracts for the design of the Semei TPP and the Ust-Kamenogorsk TPP," Kiselev said, noting that Inter RAO is working on the project in accordance with the existing intergovernmental agreement.

Kazakh Deputy Prime Minister Roman Sklyar said earlier in July that Kazakhstan had decided to independently build three TPPs in the cities of Kokshetau, Semipalatinsk and Ust-Kamenogorsk, since Inter RAO was unable to obtain export financing for these projects.

The active phase of constructing the Kokshetau TPP has already begun, with Samruk-Energy acting as the customer. The company will also be the customer for the construction of the TPPs in Semipalatinsk and Ust-Kamenogorsk, Sklyar said. "If we receive a proposal from our Russian colleagues regarding financing, then Samruk-Energy may choose them as partners, there will be no obstacles here," he said.

Kazakhstan had planned to jointly build three coal-fired TPPs with Russia in Semipalatinsk (360 MW), Ust-Kamenogorsk (360 MW), and Kokshetau (240 MW). Inter RAO was expected to act as the general contractor for the projects. The Kazakh Energy Ministry said that the main financing scenario was a loan from the Russian government with subsidization.