Kazakhstan secures Russian loan for first nuclear power plant

Russia will supply Kazakhstan with 85% of the funding for the construction of its first nuclear power plant in the form of an interstate loan, the head of Kazakhstan’s Atomic Energy Agency announced on Tuesday. Almasadam Satkaliyev told journalists in Astana that the remaining 15% will be covered by the Kazakh government. “There will be no financing problems for our station,” he said.

Intergovernmental agreements in progress

Satkaliyev explained that two intergovernmental agreements are currently being developed: one on the construction of the nuclear power plant, and another on financing from the Russian side. The preliminary cost of constructing the plant with Rosatom’s participation is approximately $15 billion for two power units with a capacity of 1,200 MW each. The first plant, named Balkhash, will take approximately 11 years to build, with completion expected in 2035-2036. Research work near the village of Ulken on Lake Balkhash began on August 8, 2025.

Second plant planned

Kazakhstan plans to build two nuclear power plants. The first will be built by Russian nuclear corporation Rosatom. For the second plant, working name “Moyinkum,” Astana is considering the China National Petroleum Corporation as a priority partner. The second station will also be located on Lake Balkhash. The move reflects Kazakhstan’s push to diversify its energy mix and reduce reliance on coal-fired power.