The government has authorised the transfer of two hydroelectric power plants (HPPs) in Kazakhstan, the possible privatisation of which had been linked to the name of former president Nursultan Nazarbayev.
According to media, ownership of the HPPs will be transferred to the state holding company Samruk-Energy JSC.
"To authorise Samruk-Kazyna National Welfare Fund JSC to carry out a transaction for the transfer of a 100% stake in Ust-Kamenogorsk HPP LLP and a 100% stake in Shulbinsk HPP LLP to Samruk-Energy JSC," states the government resolution, which has already come into force.
It will be recalled that in December 2021, negotiations with investors from the UAE regarding the privatisation of the Shulbinsk and Ust-Kamenogorsk HPPs were reported.
Later, the government withdrew from the Mazhilis the document that implied privatisation by Arab investors.
In March 2022, the Ministry of Energy reported that the Ust-Kamenogorsk and Shulbinsk HPPs would not be privatised or sold.