A final meeting to review the results of the occupational safety audit was held with the participation of Gibrat Auganov, Managing Director for Corporate Governance, Social and Labor Relations, and Occupational Safety at Samruk-Kazyna, and Kairat Maxutov, Chairman of the Board of Samruk-Energy. Senior executives of Bogatyr Komir LLP and Ekibastuz SDPP-1 presented updates on ongoing initiatives to enhance workplace safety and occupational health. 

As part of the field meeting, experts from the Fund and other portfolio companies visited the coal mine and Ekibastuz SDPP-1, exchanging experiences on current occupational safety issues in the energy sector. It was emphasized that achieving zero workplace injuries requires, above all, fostering a strong safety culture among employees and ensuring safe working conditions.

Following the meeting, specific directives were issued to improve workplace safety and enhance the working conditions of employees at these enterprises.

As part of its corporate strategy, Samruk-Energy has transferred “Ust-Kamenogorsk HPP” LLP and “Shulbinsk HPP” LLP to Qazaq Green Power PLC, a public company fully owned by Samruk-Energy, to consolidate renewable and hydropower assets within a dedicated legal entity focusing on green energy development.

The transfer was executed through an increase in the charter capital of Qazaq Green Power PLC by issuing shares of Qazaq Green Power PLC to its sole shareholder, Samruk-Energy. As payment for the issued shares, Qazaq Green Power PLC received 100% ownership interests in "Ust-Kamenogorsk HPP" LLP and "Shulbinsk HPP" LLP. 

It is important to note that as a result of this asset transfer, Samruk-Energy retains full ownership of the Ust-Kamenogorsk and Shulbinsk hydropower plants through its wholly owned subsidiary, Qazaq Green Power PLC.

The expanded meeting of the Republic of Kazakhstan’s Ministry of Energy was chaired by Roman Sklyar, First Deputy Prime Minister of the Republic of Kazakhstan. Kairat Maxutov, Chairman of the Board of “Samruk-Energy” JSC, provided an update on operational performance, investment projects completed in 2024, and the company’s plans for 2025. In 2024, the Samruk-Energy group of companies exceeded all set targets, surpassing the results achieved in 2023. Electricity production reached 39.7 billion kWh, while heat energy production totaled 6.6 million Gcal. All scheduled maintenance work on 104 units of core power plant equipment was fully completed in 2024. For 2025, the company has planned 114 maintenance operations across 105 units of essential power plant equipment. The current heating season across Samruk-Energy’s power plants is proceeding as planned, with fuel reserves (coal and mazut) maintained above required levels. Kairat Maxutov highlighted the significant collaboration with the Ministry of Energy of the Republic of Kazakhstan in 2024 to amend regulatory frameworks in the electricity sector, aimed at advancing the energy industry. In 2025, efforts will continue to refine legislative initiatives, particularly to ensure investment recovery for large-scale hydroelectric power plants, pumped-storage power plants , and energy storage systems through the capacity market. Samruk-Energy Chairman also outlined the company’s investment project plans for 2025. Looking ahead, Samruk-Energy aims to commission 14.3 gigawatts of new generation capacity by 2032.

Samruk-Energy and UCC Holding have signed a Shareholders’ Agreement to establish a project company for the development of the 1,100 MW Kyzylorda Combined Cycle Gas Turbine (CCGT) power plant. The signing ceremony was attended by Ramez Al-Khayyat, CEO of Power International Holding (PIH), and Arman Issagaliyev, Ambassador of Kazakhstan to Qatar.

The Kyzylorda CCGT project aims to enhance Kazakhstan’s energy system stability, improve environmental sustainability, and increase energy supply efficiency.

Both parties highlighted the significant progress in project preparation and confirmed their plans for further joint implementation. The Shareholders’ Agreement marks a key milestone toward signing the core project agreements, including the Investment Agreement, Capacity Market Agreement, and Power Purchase Agreement, scheduled for 2025.

 About UCC Holding:
UCC Holding is a leading Qatari conglomerate specializing in construction and infrastructure projects. As part of Power International Holding, UCC has successfully delivered hundreds of projects worldwide.

The Astana International Exchange (AIX) hosted the first trading session for International Renewable Energy Certificates (I-REC), a globally recognized instrument that certifies electricity generation from renewable energy sources.

The first transaction was completed between Samruk-Energy’s subsidiary, “Samruk-Green Energy” LLP, and Valor carbon, a London-based trading firm. Under the agreement, 1,000 I-REC certificates were sold to Valor Carbon.

"The exchange-based I-REC trading mechanism will enhance transaction transparency and stimulate sector growth by increasing supply and demand. With the planned expansion of green generation capacities, we anticipate a substantial rise in trading volumes and interest in such instruments in the future", noted Almasbi Kamalov, Managing Director for Economy and Finance at Samruk-Energy.

I-REC certificates are recognized in more than 50 countries, enabling businesses and organizations to demonstrate their commitment to green energy, support decarbonization efforts, and align with ESG strategies.

Samruk-Energy Chairman of the Board Kairat Maxutov met with Mohammed Nasser Al-Hajri, Chairman of the Board of Directors of Nebras Power, with the participation of Arman Issagaliyev, Ambassador of the Republic of Kazakhstan to the State of Qatar. The meeting focused on cooperation in the construction of a 300 MW hydropower plant in Abay region.

The project is being developed in accordance with the Agreement between the Governments of Kazakhstan and Qatar on establishing a long-term strategic partnership for priority sector development, signed on March 20, 2024, in Doha.

During the meeting, both parties reviewed the current progress of the project and identified key steps for its effective implementation.

Samruk-Energy and Nebras Power reaffirmed their commitment to strengthening their partnership and jointly implementing strategically significant hydropower initiatives.

About Nebras Power:
Nebras Power is a leading global energy company specializing in renewable energy, power generation, and water supply projects. The company operates across the Middle East, Asia, Europe, and Latin America, supporting the growth of sustainable energy solutions.

The Samruk-Energy team delivered an outstanding performance in the ski race, securing spots among the top 10 athletes of the First Winter Sports Competition of Samruk-Kazyna Group of Companies.

In the men’s under-40 category, Kanat Kalikhanov ranked ninth, demonstrating remarkable athletic ability. In the 40+ category, Galymzhan Makishev also finished among the top 10.

In the women’s 40+ category, Svetlana Zadorina secured 7th place, while Valentina Mullina finished 10th.

Samruk-Energy team showcased strong team spirit and a relentless drive for success. We take great pride in every member of our team and wish our colleagues continued victories and achievements.

“Samruk-Energy” JSC has been awarded first place and the highest honor in the "Best annual report in the non-financial sector" category at the Kazakhstan Stock Exchange (KASE) 2023 annual report competition. This victory reaffirms the recognition of the professional community and further strengthens the company's reputation as a leader in Kazakhstan’s energy sector.

During the award ceremony in Almaty, KASE honored companies that demonstrate the highest standards of corporate reporting, transparency, and sustainable development. Samruk-Energy’s success in the KASE competition is a testament to its strategic commitment to openness, responsible business practices, and ESG transformation.

Samruk-Energy continues to implement best practices in information disclosure, adhering to international standards such as GRI, TCFD, and stock exchange recommendations.

Damir Narynbaev, Executive director of the KAZENERGY Association, and Yedil Kopenov, Director of the Energy Industry Development Department, visited “Samruk-Energy” JSC’s subsidiaries in the Pavlodar region. During their business visit, they toured Ekibastuz CHP, Ekibastuz SDPP-1, Ekibastuz SDPP-2, and “Bogatyr-Komir” LLP.

The delegation reviewed the current operations of these facilities and held discussions with company management and employees.

Key topics covered during the meetings included the development of the regional energy sector, social initiatives, tariff policies, and other pressing industry matters.

Particular attention was given to the "Year of skilled trades" initiative, which plays a vital role in supporting and advancing skilled professions in the energy sector.

The Chairman of the Management Board of “Samruk-Kazyna” JSC, Nurlan Zhakupov, visited the House of Thermal Power Engineers at the City of Skilled Trades Festival. During the visit, the Chairman of the Management Board of “Samruk-Energy” JSC, Kairat Maxutov, presented a dynamic model of a power plant to the head of the Fund, demonstrating the technological process of electricity generation.

In the interactive zone, Samruk-Energy showcased a model of Ekibastuz SDPP-1, one of the largest power plants in Kazakhstan. The model illustrated key infrastructure components, highlighting the plant’s scale and critical role in supplying electricity to residential and industrial consumers.

A key attraction at the festival was the bicycle generators, which provided a hands-on demonstration of how mechanical energy is converted into electricity by pedaling. Visitors also had the opportunity to see coal from the Bogatyr mine, try on a smart helmet, and handle tools used by power plant workers.

During the festival, Yuliya Kuriy, Managing Director of Qazaq Green Power PLC, delivered a presentation on the key aspects of hydropower development in Kazakhstan, promising projects, and career opportunities in the hydropower sector for students.

As part of the event, Samruk-Energy organized interactive competitions and quizzes on energy-related topics, allowing participants to test their knowledge and skills.

Samruk-Energy is a leader in Kazakhstan’s energy sector, employing over 18,000 people, including 17,300 skilled trade professionals.