Chairman of the Management Board of "Samruk-Energy" JSC,  Kairat Maxutov, and Deputy Chairman of the Board of Directors of China International Water and Electric Corporation (CIWE), Shi Intao, have signed a cooperation agreement for the construction of the first pumped-storage hydroelectric power plant (PSHPP) in Kazakhstan. The parties have agreed to collaborate on the project's development and implementation.

Specifically, China International Water and Electric Corporation plans to conduct a comprehensive technical and economic assessment of the project, including an analysis of Kazakhstan's hydroelectric potential. Furthermore, Chinese experts have offered to share their expertise in implementing hydroelectric projects and to provide support for the construction of the country's first PSHPP.

Previously, China International Water and Electric Corporation was involved in constructing Moynak Hydropower Plant, the largest hydroelectric station in Southern Kazakhstan. The agreement signed by both parties reaffirmed their commitment to further collaboration and strengthening mutually beneficial partnerships to execute a groundbreaking project in the country's energy sector.

It's important to note that a pumped-storage hydroelectric power plant (PSHPP) is designed to even out the daily fluctuations in electricity demand. It's crucial for both generating and storing electricity, ensuring uninterrupted power supply even during peak demand periods and extreme conditions.

The Chairman of the Board of “Samruk-Energy” JSC, Kairat Maxutov, participated in an extended board meeting of the Ministry of Energy, which was attended by the First Deputy Prime Minister of the Republic of Kazakhstan, Roman Sklyar.

During the meeting, Maxutov provided a comprehensive report highlighting the company's  achieved production figures and implementation of investment projects throughout 2023.

Regarding the ongoing winter heating period, Maxutov assured that Samruk-Energy's power plants are operating smoothly, with an ample supply of fuel ensuring uninterrupted energy provision.

Furthermore, Maxutov outlined the company's plans for 2024, which include the execution of various investment projects aimed at enhancing the company's infrastructure and services.

Samruk-Energy is actively collaborating with the Ministry of Energy and receiving substantial support from the Government to streamline legislation within the power industry.

In 2023, significant amendments to laws and regulations were enacted, facilitating the expedited implementation of priority investment projects. Maxutov emphasized that efforts to refine legislation will persist throughout the current year.

A compliance training seminar "Combatting corruption in the quasi-governmental sector" was held at "Samruk-Energy" JSC. The company's management team participated in the session with employees from various departments and subsidiaries joining online.

The speaker was Miras Kargabay, the head of the Department at the Agency of the Republic of Kazakhstan for Combating Corruption. He provided the participants of the seminar with insights into ongoing anti-corruption reforms and advancements.

Throughout the seminar, discussions centered on preventive measures, tactics for curbing corrupt activities, and the initiatives undertaken to combat bribery.

In several media sources, information has been published regarding the Prosecutor's Office of Pavlodar region uncovering instances of misuse of funds intended for the expansion and reconstruction of thermal power plant GRES-2 including the installation of a third power unit. The prosecutorial investigation commenced in December 2023, covering the operations of "Ekibastuz GRES-2 Station" from 2010 onwards.

Currently, the investigation is ongoing, so final conclusions regarding any damages or misappropriation can only be made once the investigation is complete and the relevant legal procedures are enacted.

Today, Nurlan Zhakupov, Chairman of the Board of “Samruk-Kazyna” JSC, visited CHP-2 of “AlES” JSC as part of a working visit. During the station visit, the Head of the Fund was accompanied by Kairat Maxutov, Chairman of the Board of “Samruk-Energy” JSC. Yerik Mashirov, the head of “AlES” JSC, briefed the Head of the Fund on navigating through the autumn-winter period and presented a comprehensive report on the company's operations for 2023, along with plans for the current year.

During the visit, Erik Kanyshbekovich updated the Head of the Fund on the progress of the Almaty CHP-2 modernization project, aimed at reducing emissions of harmful substances while ensuring the reliability and efficiency of energy supply. The reduction in emissions is achieved through the conversion of CHP-2 to firing natural gas.

Currently, preparatory work for the project, including geological surveys and well drilling, is underway. The construction is scheduled for completion by December 2026.

It's worth noting that on May 31, 2023, an EPC (Engineering, Procurement, and Construction) contract was signed for the CHP-2 project between “AlES” JSC and a consortium comprising Dongfang Electric International Corporation, PowerChina Sepco1 Electric Power Construction Co., Ltd, and PowerChina Hebei Electric Power Engineering Co. The consortium comprises a collaboration of companies, with the first being a significant producer of industrial equipment, the second possessing expertise in projects under EPC conditions, and the third specializing in engineering.

On January 31, 2024, Kairat Maxutov, Chairman of the Board conducted a comprehensive review with the staff of “Samruk-Energy” JSC.

The meeting featured a presentation by the Chairman highlighting the company's achievements throughout 2023 and outlining the strategic plans for the year 2024. Key accomplishments in 2023 encompassed:

- Meeting 100% of targets in electricity production, transmission, and sales, along with heat energy sales.

- Implementing tariff increases for electricity production, transmission, and sales, as well as tariffs for maintaining electricity capacity availability and heat energy production.

- Significantly improving the company's financial performance.

Recognition was given to the dedicated efforts of the workforce, contributing to advancements in ESG practices, occupational health and safety, efficient liquidity management, streamlined business processes, and the successful incorporation of legislative initiatives.

The announced objectives for 2024 focused on enhancing both operational and financial metrics, updating the company's development strategy, automating processes in occupational health and safety, and refining existing legislation. Additionally, the plan includes the implementation of strategic investment projects and the elevation of the company's ESG rating. The goals also extend to improving social policies, with a particular emphasis on fostering diversity and ensuring gender equality within the company group.

Expressing gratitude for the team's invaluable contributions, Chairman Kairat Maxutov underscored the pivotal role of Samruk-Energy JSC in propelling the nation's energy sector forward. He emphasized the company's ambitious targets, including the introduction of 12.2 GW of electric power capacity by 2032, with 6.3 GW dedicated to green energy. The Chairman called on each employee to actively participate, demonstrate initiative, showcase leadership qualities, and play a pivotal role in achieving collective objectives.

On January 30, 2024, Maxutov Kairat Berikovich, Chairman of the Board of “Samruk-Energy” JSC, arrived in Akmola region for a business trip. During the visit, the head of the power company met with the Akim (governor) of the region, Marat Muratovich Akhmetzhanov, to discuss the implementation of the "Construction of Kokshetau CHP" project.

During the meeting, the parties reviewed the outcomes of the project's feasibility study and underscored the need to modify the city’s heat supply scheme, considering the future development and construction of a new energy facility. The primary focus of the discussion was addressing the shortage in electricity and heat within the region.

Kairat Maxutov highlighted that, as per the Memorandum signed between the Ministries of Energy of the Republic of Kazakhstan and the Russian Federation, Samruk-Energy JSC is entrusted with project implementation on the Kazakh side, with Inter RAO-Export LLC authorized on the Russian side. “Samruk-Energy” JSC will serve as the customer, retaining full ownership of the station, while Inter RAO-Export will act as the general contractor and assist in organizing preferential financing for the construction.

Additionally, discussions covered the selection of the future thermal power plant's location and the necessary supply infrastructure.

On January 27, 2024, Maxutov Kairat Berikovich, the Chairman of the Board at "Samruk-Energy" JSC, conducted a business trip to Shulbinsk HPP. During the visit, he received updates on the current operations of the facility and observed the ongoing refurbishment of hydraulic unit No. 5. Briefings included information on the forthcoming construction of the second phase of Shulbinsk HPP, a project set to enhance the plant's capacity to 1350 MW.

Following the visit, Chairman Maxutov Kairat Berikovich instructed the timely completion of the overhaul for hydraulic unit No. 5. Additionally, he mandated the development of a comprehensive roadmap for the implementation of the second phase construction project at Shulbinsk HPP.

On January 26, 2024, Kairat Maxutov, the Chairman of the Board of "Samruk-Energy" JSC, visited the company's enterprises located in the East Kazakhstan region for official business engagements. The head of the energy-producing holding company visited the Ust-Kamenogorsk HPP, where he gained insights into the ongoing operations of the facility.

 During the visit, plans were discussed for the overhaul of hydroelectric unit No. 2 and upgrade the fourth hydroelectric unit to increase the power output of the HPP to 380 MW. These steps are geared towards improving the efficiency of our energy operations and ensuring a steady energy supply to the region.

Based on the results of the meeting with the management and specialists of the Ust-Kamenogorsk HPP, the Chairman of the Board laid out specific instructions for the further development of the enterprise.

On January 26, 2024, a meeting was convened with East Kazakhstan Region Akim (mayor), Kosherbaev Y.B., to address the construction of a thermal power plant in Ust-Kamenogorsk. Attended by top officials from the East Kazakhstan Akimat (mayor administration) and “Samruk-Energy” JSC management team, the discussion highlighted the imperative to commence and conclude a feasibility study within the current year. Consideration was also given to calculating the electrical and thermal capacity of the future station, aligning with the city's upcoming development. Final parameters and construction costs will be determined post-approval of the feasibility study.

Furthermore, the meeting addressed issues such as selecting a suitable site for the placement of the thermal power plant, the need for adjustments to the city's heat supply scheme, and the development of engineering infrastructure and heating networks.

Subsequent to the meeting, a decision was reached to establish a collaborative working group comprising representatives from Samruk-Energy and the East Kazakhstan Akimat. This group is tasked with swiftly formulating an Action Plan for project implementation.