07/04/2024 16:59:00
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Today, Baiterek National Management Holding held a meeting with China Huadian Corporation.
The discussion centered around a new energy project for the construction of a 160 MW combined-cycle plant in the Mangistau region. A joint venture between Kazakhstani and Chinese partners has already been established to bring this project to fruition, with an estimated investment of USD 190 million. Baiterek Holding has pledged its support for the project through its subsidiaries, Qazaqstan Investment Corporation and Development Bank of Kazakhstan.
Moreover, on July 2, 2024, during the Shanghai Cooperation Organization summit, a memorandum of long-term strategic cooperation was signed between Baiterek Holding and China Huadian Overseas Investment Co. Ltd., a subsidiary of China Huadian Corporation. This memorandum aims to facilitate the implementation of energy projects across Kazakhstan.
"We are delighted to enhance our collaboration with China Huadian Corporation. This project and the signed memorandum mark significant steps towards the sustainable development of Kazakhstan's energy sector. Our partnership opens new avenues for the modernization of energy facilities and the integration of innovative technologies. We are confident that our joint efforts will yield substantial results, strengthening economic ties between our countries and advancing environmentally friendly energy solutions," stated Rustam Karagoishin, Chairman of the Board of Baiterek Holding.
Baiterek Holding also expressed its readiness to embark on projects to modernize coal generation facilities in collaboration with Chinese partners, showcasing a commitment to fostering not only investment but also scientific partnerships between the financial institutions of Kazakhstan and China.
Background Information:
China Huadian Corporation is a state-owned entity in China that produces and supplies electricity and heat. The corporation operates power plants with a total controlled installed capacity exceeding 200 GW, with more than 47% of this capacity coming from renewable energy sources such as hydroelectric, wind, and solar power plants.
