Kazakhstan is planning to finance the construction of its first nuclear power plant through an interstate loan from Russia, as part of a broader strategy to strengthen long-term energy security.
The announcement was made by Almassadam Satkaliyev, head of the Atomic Energy Agency of Kazakhstan, who said a financing mechanism is currently being developed between the two countries.
According to Satkaliyev, the project will be supported by two key agreements: one covering the construction of the nuclear power plant itself, and another outlining financing terms provided by Russia.
Under the proposed structure, up to 85% of the project cost will be financed through credit, while the remaining 15% will be covered by the Kazakh government.
Preliminary estimates place the cost of the project—consisting of two power units with a combined capacity of 2,400 MW—at approximately $15bn. The final cost will be determined after the design phase is completed.
Work on the first plant is already progressing in line with schedule. According to officials, site exploration and preparatory studies have been completed at the first location near the village of Ulken, close to Lake Balkhash.
The development timeline for the project is long-term, with design work expected to take between five and seven years, followed by construction lasting 10 to 15 years.
As part of its nuclear energy strategy, Kazakhstan also plans to establish a national atomic holding company that will own and operate all nuclear power plants in the country.
“This will be a diversified company aimed at developing nuclear energy and increasing local participation in the sector,” Satkaliyev stated.
Beyond the first project, Kazakhstan is considering the construction of at least three nuclear power plants, with long-term plans potentially expanding this number to four.
Officials say multiple potential sites have already been studied, taking into account projected energy demand, as well as environmental and seismic safety requirements.
Among the key locations identified is the Balkhash region, which is considered capable of hosting up to six large reactor units. The Kurchatov site has also been highlighted as suitable for small and medium-capacity reactors, while western Kazakhstan offers opportunities for combined energy systems.
