Russia will build Kazakhstan’s first nuclear power plant under a $16.5 billion deal as the country seeks to address rising energy demand.
Russia agreed on Thursday to build the first nuclear power plant in Kazakhstan, with a $16.5 billion investment, according to Reuters.
Kazakhstan is the largest country in Central Asia, which is the biggest producer of uranium, and has been debating the idea of nuclear power for nearly two decades. Moscow has also signed an agreement to provide export credit to Kazakhstan, as per the report.
According to the report, the country held a referendum in 2024, in which citizens voted in favour of building the plant, and the village of Ulken, on the shores of Lake Balkhash in the southeast of the country, was selected for that.
“The agreement signed today on the construction of the Balkhash NPP has an important role,” said Kassym-Jomart Tokayev, Kazakhstan’s president, before thanking Russian President Vladimir Putin for his support.
The Russian President, Vladimir Putin, in response said, “Putting the plant into operation will make a significant contribution to the energy supply of the Kazakh economy.”
Russia’s state nuclear corporation, Rosatom, has been given the lead role in constructing the plant, beating out China National Nuclear Corporation (CNNC), French utility EDF, and Korea Hydro & Nuclear Power.
Reportedly, the plant will have two VVER-1200 reactors and is expected to cost around $16.5 billion, including approximately $2 billion for security and supporting infrastructure, as per the head of Kazakhstan’s atomic energy agency, Almasadam Satkaliyev.
Construction is set to begin in 2027, with the first reactor expected to be ready by early 2034, as per Satkaliyev. Kazakhstan, the world’s largest landlocked country, was initially a site of Soviet nuclear weapons testing, therefore making some parts of the land more deserted with a lack of population residing in those places.
Also, due to this, various diseases have arisen and affected people. But as the country currently has an insufficient amount of energy and is facing a significant need for it, despite having a natural gas reserve, the people of the country rely on coal-powered plants for their electric power needs, with little support from hydroelectricity and some renewable energy sources.
The country is already taking electricity from Russia, as its own power infrastructure is reportedly facing a struggle with the growing demand.
Furthermore, Kazakhstan has also announced plans for a second nuclear plant, with China’s state-run CNNC selected as its main builder, reported the news agency.
