Russia and Kazakhstan have signed an agreement to construct the country’s first nuclear power plant, marking a major step in Kazakhstan’s long-discussed plans to develop atomic energy.
The project will be built in the Balkhash area and represents the largest energy infrastructure initiative in the Central Asian nation.
Strategic energy cooperation
The agreement was signed during a meeting between Kazakh President Kassym-Jomart Tokayev and Russian President Vladimir Putin in Astana.
Tokayev described the deal as a significant milestone, thanking Russia for its support in the development of the large-scale project.
The agreement also includes a Russian export credit line to help finance construction costs for the nuclear plant in Kazakhstan.
Major investment and financing structure
According to Kazakhstan’s nuclear energy authority, Russia is expected to provide financing covering around 85% of the estimated $15 billion cost of the project.
The plant will reportedly include two reactors and is expected to play a central role in Kazakhstan’s future energy strategy.
Long-term nuclear ambitions
Kazakhstan, the world’s largest uranium producer, has debated nuclear energy development for more than two decades, despite its historical experience with Soviet-era nuclear testing.
In a 2024 referendum, voters supported the construction of a nuclear power plant, with the site designated near the village of Ulken on Lake Balkhash in the southeast of the country.
The government aims to reach 2.4 gigawatts of nuclear capacity by 2035 as part of its broader energy transition plans.
Energy shift for Central Asia
The nuclear plant project in Kazakhstan highlights the country’s push to diversify its energy mix while strengthening cooperation with Russia in the energy sector.
Officials say the plant is expected to reduce dependence on fossil fuels and support long-term electricity demand growth in the region.
Source: CNA
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