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Strategy

On 19 July 2024, by the decision of the Board of Directors of "Samruk-Energy" JSC, the Development Strategy of "Samruk-Energy" JSC for 2024-2033 (hereinafter referred to as the Strategy) was approved. The Strategy takes into account global and internal changes in the energy sector, is aimed at developing renewable energy sources, improving the efficiency and reliability of energy supply, as well as implementing ESG principles.

Strategic Challenges and Development Priorities

Increasing capacity deficit and transition from forecasts to practical implementation of projects

By 2025, forecasts of energy shortages have moved to the practical plane. According to the forecast balance of the Ministry of Energy and KEGOC data, in 2025 the electricity deficit in the UPS of Kazakhstan is estimated at 5.7 billion kWh, and the capacity deficit in the autumn-winter period reaches 0.9-1.0 GW, which confirms the correctness of the previously indicated estimates of the deficit by 2030.

Construction of New Thermal Power Plants as an Element of Regional Energy Security

In 2025, the strategic priority in the field of heat supply was transformed into the stage of implementation of projects for the construction of new CHPPs in Kokshetau, Semey and Ust-Kamenogorsk, implemented by "Samruk-Energy" JSC.

Financial sustainability and green financing

In 2025, the priority remains to reduce the debt burden while scaling up the investment programme. The national climate agenda and the goal of achieving carbon neutrality by 2060 increase the Company's access to sustainable financing instruments, including green and ESG bonds, as well as financing from international development institutions.

The development of renewable energy sources and the growing need for flexible generation

At the end of 2024, the installed capacity of renewable energy sources in Kazakhstan exceeded 3.0 GW, and the share of renewable energy sources in electricity generation reached 6.43%, more than tripling compared to 2019. At the same time, in the first quarter of 2025, the share of renewable energy decreased to 5.93%, which reflects the systemic limitations of integrating unstable generation in the face of a shortage of manoeuverable capacity and worn-out infrastructure. In these conditions, the accelerated development of renewable energy sources is accompanied by an increase in the need for gas generation, energy storage systems, hydroelectric power plants and pumped storage power plants capable of balancing the energy system. The state and the system operator consider hydroelectric power plants and prospective pumped-storage power plants as a key element in stabilizing the operation of renewable energy sources and future nuclear power plants.

Institutional changes in the market and the impact of the Single Buyer

The operation of the Single Buyer and Balancing Market model in real time, introduced in 2023, in 2024–2025 had a significant impact on the financial and economic model of generation. For renewable energy facilities, the transition to responsibility for plan-actual deviations has strengthened the requirements for forecasting and investment in digital solutions, and also revealed a shortage of manoeuvering capacities in the power system.

Digitalisation and technological renewal

To improve the reliability and efficiency of the power system in 2025, the implementation of

  • digital emission monitoring systems,
  • predictive analytics and AI for load forecasting,
  • intelligent systems for equipment diagnostics and industrial safety.

These solutions are integrated into new and existing assets, including thermal power plants and coal-fired power plants under construction, and are considered an essential element of the Company's long-term competitiveness

The energy trilemma shapes the external environment and development path of Samruk-Energy JSC

Samruk-Energy JSC as a key quasi-governmental company 
in the energy sector

Sustainable energy supply01
Energy transition Kazakhstan's commitments to carbon neutrality Growing cost-competitiveness of renewable energy sources (RES) Enhanced tariff conditions for RES Sustainability
Affordability02
Low purchasing power of the population, limited ability to raise tariffs Climatic conditions: need for thermal energy
Energy supply reliability03
Significant low-cost fuel sources (Coal) Limited gas reserves and lack of gas infrastructure Limited flexible generation capacity Aging energy infrastructure
Sustainable Development
Reliability
Affordability

Priorities of Samruk-Energy JSC – Energy security, Energy transition, Sustainable development and Efficiency

Linking the energy sector trilemma to the strategic development 
directions of Samruk-Energy JSC

As an agent of state policy in the electric power sector, Samruk-Energy JSC will continue to serve as a guarantor of Kazakhstan's energy security. External factor constraints lead to the necessity of maintenance and expansion of both base and flexible generation in the near term.

In the long term, Samruk-Energy JSC will support the national goals of the energy transition (achieving carbon neutrality by 2060) and will act as a driver for the development of renewable energy sources, shifting its focus in alignment with state policy.

The affordability of electricity and heat at the level of Samruk-Energy JSC can only be managed through the efficiency of its operations.

Efficient production of electricity and heat is a key approach to reducing overall costs, creating greater opportunities to establish affordable pricing.

Sustainable development (environmental, social, and corporate governance) is an integral element of the sustainable energy supply component within the energy trilemma and has a comprehensive impact at the national level. At the company level, however, managing sustainable development is extensive and includes a significant range of tasks, necessitating the establishment of ESG as a separate strategic direction.

Risks and challenges associated with the implementation of the development strategy

Name of the risk or threat

Risk management measures

Strategic Direction – Energy Security

Risks of ongoing / promising investment projects and subsidiaries’ investment programmes

  • Monitoring and adjustment of action plans for promising projects
  • Monitoring of ongoing investment projects
  • Report on the implementation of the Development Plan of "Samruk-Energy" JSC and subsidiaries and affiliates, and monitoring of the development of capital investments
  • Formation of weekly references and presentations on projects of "Samruk-Energy" JSC and their submission to "Samruk-Kazyna" JSC
  • Work with government agencies of the Republic of Kazakhstan to obtain support for the Company's investment projects
  1. Construction of Ekibastuz GRES-3 with the installation of power units of stations No. 1 and No. 2
  2. Expansion and reconstruction of Ekibastuz GRES-2 with the installation of the power unit of station No. 3
  3. Expansion of Ekibastuz GRES-2 with the installation of the power unit of station No. 4
  4. Construction of the Semipalatinsk hydroelectric power plant on the Irtysh River with a capacity of over 300 MW

Risk of failure to meet the coal sales plan

  • Monitoring the implementation of the coal sales plan
  • Coal Market Analysis

Risk of failure to meet the electricity production plan

  • Monitoring the implementation of the electricity generation plan
  • Monitoring of the execution of maintenance schedules and investment projects with respect to the achievement of physical work volumes as part of maintaining the technical condition of production assets
  • Training of operating and maintenance personnel
  • Timely adjustments to the Development Plan, post-investment monitoring of implemented investment projects in terms of reaching design capacity

Risk of non-fulfillment of the electricity transmission and distribution plan

  • Approval of the schedule of scheduled preventive repairs
  • Monitoring of losses in electric networks
  • Monitoring by reliability indicators

Risk of non-fulfillment of the electricity sales plan

  • Interaction with the shareholder, state bodies and organisations on the development of the electricity and electric power market
  • Monitoring the implementation of the Company's Development Plan (electricity sales)

Risk of the procurement process

  • Monitoring of changes in the Procurement Procedure of "Samruk-Energy" JSC and timely notification of structural subdivisions
  • Approval of draft contracts by the procurement department
  • Thorough study by the tender commission of applications of potential suppliers for compliance with the requirements of tender documentation, the Procurement Procedure of "Samruk-Energy" JSC
  • Monitoring the implementation of procurement processes
  • Monitoring the share of intra-country value
  • Preliminary discussion of tender documents on the procurement web portal
  • Timely training of personnel (according to the training schedule)
  • Timely posting of e-procurement announcements on the Fund's procurement web portal
  • Monitoring the implementation of procurement category strategies

Risk of failure to meet the coal production plan

  • Training of operating and maintenance personnel
  • Monitoring the implementation of investment projects
  • Monitoring of repair programmes in terms of physical work volumes and disbursement of funds
  • Timeliness of making adjustments to the Development Plan, post-investment monitoring of implemented investment projects

Risk of non-fulfillment of the plan for the production and sale of heat energy

  • Monitoring of the implementation of the repair schedule to maintain the operability of equipment
  • Monitoring the modernisation and reconstruction of existing equipment and the commissioning of new capacities in accordance with the investment programme
  • Monitoring the implementation of investment projects
  • Adjustment of Development Plans

Strategic Direction – Efficiency

Information security risk

  • Instrumental audit (pentest), including external penetration testing and vulnerability identification
  • Timely conclusion of a contract for IT infrastructure management services
  • Compliance with the regulations for obtaining or restricting access rights
  • Audit of access rights, removal of unnecessary accounts of privileged users

Risks of information systems

  • Timely conclusion of a contract for IT infrastructure management services
  • Ensuring IT business continuity
  • Compliance with the conditions for obtaining or restricting access rights

Energy efficiency risks

  • Conducting an energy audit in subsidiaries and affiliates in accordance with the legislation of the Republic of Kazakhstan

Tariff-setting risk

  • Making proposals regarding the need to make appropriate amendments to the legislation of the Republic of Kazakhstan on the regulation of tariffs of natural monopolies, regulated markets and the competitive market
  • Timely identification of negative factors and risks in the field of tariff setting
  • High-quality preparation of the tariff campaign of the subject for the approval (coordination) of tariffs
  • Monitoring of tariff policy

Credit risk of counterparty banks

  • Diversification of temporarily free funds invested in financial instruments in accordance with the requirements of the main parameters of the treasury portfolio
  • Conducting an examination of the risks of counterparty banks for the placement of VDS
  • Compliance with limits on counterparty banks

Risk of violation of the law and non-compliance with legal acts

  • Preparation for court proceedings
  • Legal examination of materials submitted for consideration by the Board of Directors of Samruk-Energy JSC and/or the Management Board of Samruk-Kazyna JSC for compliance with the requirements of the current legislation of the Republic of Kazakhstan
  • Carrying out the examination and endorsement of draft contracts in accordance with the established procedure
  • Work with legal consultants and other consultants on the provision of legal services
  • Monitoring of changes/additions to the legislation of the Republic of Kazakhstan regulating the Company's activities
  • Regular notification of employees about the need to inform SBiNU employees about significant events that require the accrual and payment of taxes

Interest rate risk

  • Taking measures to optimise interest expenses
  • Generation and monitoring of the debt report to analyze changes in interest on loans

Currency risk

  • Setting limits on an open currency position
  • Refinancing of foreign currency loans
  • Monitoring of the open currency position

Risks associated with the acquisition, disposal of shares/participatory interests in the authorised capital capital of legal entities, the creation of new ones, as well as the reorganisation and liquidation of legal entities

  • Compliance with the requirements of the Internal Affairs of the Fund and the Company regulating the procedure and terms for the implementation of measures for the acquisition, alienation of participation interests (shareholdings) in the authorised capital of legal entities, the creation of new legal entities, as well as the reorganisation and liquidation of legal entities
  • Monitoring of the execution of concluded contracts with the involvement of independent consultants (financial, tax, legal and others)
  • Availability and entry of the necessary information into the electronic data room for working with potential investors/buyers

Risk of non-fulfillment of the Company's Development Strategy

  • Monitoring the implementation of the Action Plan for the implementation of the Strategy/strategic KPIs
  • Timely updating of the Company's Development Strategy
  • Timely completion of investment projects

Risk of a terrorist act

  • Participation in the Coordination Council for Ensuring Security at Strategic Facilities and Countering Terrorism in the Samruk-Kazyna Group of Companies, and the implementation of its recommendations
  • Analysis and improvement of the technical equipment of the security system
  • Monitoring the development and implementation of the Action Plan for Anti-Terrorist Security
  • Scheduled exercises and inspections of anti-terrorist security of facilities of subsidiaries and affiliates with interested state bodies
  • Development of internal regulations on the actions of personnel in the event of terrorist threats. Conducting staff training on an ongoing basis
  • Annual briefing (exercises) of personnel on responding to threats of terrorist acts

Risk of lack of liquidity for operational, investment, and financial activities

  • Cash forecasting on a monthly basis
  • Approval of the Development Plans of subsidiaries and affiliates as they are received, and reports on their implementation, on a quarterly basis
  • Preparation of a report on the Company's debt and financial stability on a quarterly basis
  • Planned and early repayment of the principal debt for the Company's group
  • Regular notification of employees about the timely submission of primary documentation to the Accounting and Tax Department, as well as timely notification of Accounting and Tax Department employees about significant events that require reflection in the financial statements

Risk of breach of covenants of external creditors and listing requirements

  • Monitoring of covenant compliance in accordance with the Financial Stability and Debt Management Policy (financial and non-financial)
  • Information on compliance with covenants of external creditors and listing requirements
  • Timely implementation of measures aimed at obtaining a letter of consent from counterparties (in case of a threat of breach of covenants) (letter of waiver)

Impairment risk of non-financial assets

  • Reduction of capital expenditures, analysis of the feasibility of planned capital repairs, timely implementation of investment projects
  • Conducting an impairment test (if there are signs of impairment)
  • Centralised control over the formation and adjustment of the investment programme of subsidiaries and affiliates

Strategic Direction – Energy Transition

Climate Transition Risks

  • Interaction with authorised state bodies in the process of developing regulatory legal acts in the field of climate
  • Disclosure of information on climate risk as part of the Annual Integrated Report
  • Implementation of measures for 2025 from the Energy Transition Program of "Samruk-Energy" JSC until 2060

Strategic Direction – Sustainable Development

Environmental risks

  • Monitoring of the use of the limit of greenhouse gas emission quotas, adjustment of
  • Compulsory environmental insurance
  • Interaction with authorised state bodies in the process of developing regulatory legal acts in the field of environmental protection
  • Monitoring of budget execution under the item "environmental protection"
  • Monitoring the impact of economic activities on aquatic ecosystems, fauna and flora.
  • Monitoring compliance with the norms of legislation in the field of environmental protection, water resources and deadlines for submitting applications for emission permits and reporting to state regulatory authorities

Corporate governance risk

  • Work to obtain an ESG rating
  • Development, monitoring and implementation of the Roadmap for improving the sustainable development management system
  • Definition and regulation of the rights and obligations of members of management and control bodies, officials
  • Formalisation of corporate governance processes, development and implementation of internal regulatory documents in the field of corporate governance
  • Control over the execution of corporate documents in the field of corporate governance
  • Stakeholder Engagement
  • Control over the implementation of the Regulations on the preparation of the Company's Annual Report and ensuring the evaluation of the Report by the Audit Committee of the Company's Board of Directors
  • Updating information on the corporate website.

Risk of damage to the health and life of employees in the course of performance of official duties, accidents at work

  • Control over the implementation of measures developed within the framework of the Action Plan to achieve zero injuries in "Samruk-Energy" JSC group of companies in subsidiaries and affiliates Quarterly monitoring of their implementation
  • Scheduled and unscheduled on-site inspections of subsidiaries and affiliates for compliance with regulatory legal acts and internal regulations in the field of occupational health and safety
  • Participation in accident investigations (if it occurs and is included in the order on the creation of the commission)
  • Monitoring the training of employees in the field of safety and labour protection, testing knowledge of the rules of technical operation, safety
  • Control over the fulfillment of health and safety requirements by contractors.
  • Organisation and holding of meetings with the heads of subsidiaries and affiliates.

Risks of human resources of the Company's group

  • Working with a talent pool, organizing the succession of key positions, professional development of the talent pool
  • Interaction with educational organisations on the training of specialists in priority specialties for the electric power and coal industries (in accordance with the strategic goals of the Company)
  • Organisation of training seminars and trainings for employees of the Company/SDCs
  • Development of the principles of meritocracy and motivation system.

Risk of accidents and disasters at work

  • Control of timely diagnostics of equipment in order to determine the technical condition
  • Control over the timely and complete implementation of the necessary repair of equipment in accordance with the deadlines established by the schedule.

Social risks

  • Conducting an annual study of Samruk Research Services of production personnel and the well-being of the administrative staff
  • Formation of a pool of mediators, development of the institution of mediators
  • Signing of labour collective agreements in the Company and subsidiaries and affiliates
  • Involvement of employees in the trade union, introduction of meritocracy principles, development of a motivation system
  • Conclusion of contracts for voluntary medical insurance
  • Ensuring the indexation of wages in accordance with the Development Plan for the relevant year

Risk of reputational damage

  • Preparation and publication of thematic articles on the Company's activities in the media, on the Company's official social networks and on the Company's corporate website
  • Timely development and posting of the Annual Report on the website
  • Timely preparation and sending of responses to media inquiries regarding the activities of the Company and its subsidiaries and affiliates
  • Regular monitoring of negative feedback, timely response to incidents covered in the media and social networks
  • Timely initiation of amendments to the Legislation/RLA.

Risk of fraud / theft by staff and third parties

  • Strengthening internal control procedures for the safety of assets
  • Bringing to Legislative Responsibility of Employees Who Have Committed Fraud or Theft

Climate-related physical risks

  • Preparation for flood and thunderstorm periods
  • Investments in the installation of cooling/heating systems
  • Compliance with the approved schedules for the repair of the main equipment
  • Disclosure of information on climate risk as part of the Annual Integrated Report
  • Development of measures to eliminate natural accidents

Compliance risks

  • Identification and assessment of risk, definition of control procedures and development of an action plan for risk prevention
  • Control over compliance with regulatory requirements, as well as the implementation of systems for preventing and combating corruption
  • Assistance to authorised bodies to bring to legislative responsibility employees and officials who have committed an offense
  • Familiarisation of newly hired employees and officials with internal regulatory documents on combating corruption
  • Conducting trainings on the formation of an anti-corruption compliance culture
  • Due diligence of counterparties (beneficiaries)
  • Timely consideration of complaints and appeals through voluntary informing, reporting
  • Conducting internal audits/investigations in order to identify the causes of violations and minimise them.
  • Development of an annual anti-corruption work plan

Strategic directions, goals, objectives and KPIs

Energy security

Efficiency

Energy transition

Sustainability

Strategic goals

Ensuring that the growing demand of the economy for electric power and electricity is met

Improving the efficiency of operational, financial and investment activities

Advanced development of renewable energy sources and reduction of negative impact on the environment

Following ESG best practices

Objectives

  • Implementation of investment projects for the construction of basic and manoeuverable capacity through international cooperation
  • Modernisation and reconstruction of existing assets using modern technologies
  • Timely and high-quality maintenance and repair work
  • Ensuring Supply Chain Reliability
  • Improving energy efficiency and introducing energy-saving technologies and processes
  • Optimisation of the asset management structure
  • Improvement of operational efficiency (optimisation of costs, business processes)
  • Ensuring financial stability
  • Implementation of modern digital solutions and technologies, including artificial intelligence
  • Formation of legislative initiatives and setting tariffs
  • Implementation of investment projects with acceptable profitability, on time and at a cost
  • Implementation of renewable energy and hydropower investment projects and international cooperation
  • Decarbonisation and reducing the carbon footprint
  • Introduction of waste processing and beneficial use practices (use of ash slag)
  • Ensuring a stable power supply from renewable energy generation facilities through the use of energy storage systems
  • Minimisation of pollutant emissions
  • Localisation of production
  • Improving the efficiency of corporate governance and compliance
  • Implementation of climate risk management
  • Development of human capital
  • Ensuring social guarantees, social stability and security
  • Reducing Workplace Injuries by Applying H&S Best Practices
  • Improving the efficiency of interaction with key stakeholders
  • Introduction of modern practices to minimise harm to water, biodiversity and soil in the implementation of new projects

Efficiency

  • Total sales volume of electricity, basic and gas generation
  • Volume of commissioning of base and gas generation capacities
  • Technical Availability Factor (TAF)
  • Implementation of the plan to meet the needs for coal
  • Debt / EBITDA
  • Specific Equivalent Fuel Consumption (URU)
  • Investments in fixed assets
  • Gross inflow of foreign direct investment
  • NAV
  • EBITDA margin by business area
  • Reduction of specific CO2-eq emissions (compared to the base year 2021) relative to the total electricity generation
  • Share of installed capacity of renewable energy sources and hydroelectric power plants in the generation structure
  • ESG rating upgrade
  • Improving the Social Stability Rating of the SRS Index
  • Achieving zero injuries and fatalities (reduced LTIFR and LDR, FIFR)

Taking into account the approval of the Development Strategy for 2024-2033, strategic performance indicators have been identified to achieve the relevant strategic development goals.

Several key bodies and divisions are responsible for the implementation of the strategy of "Samruk-Energy" JSC.

The Board of Directors approves the company's development strategy, determines key performance indicators and monitors the achievement of strategic goals. The Management Board is responsible for directly managing the implementation of the strategy, coordinates the work of business units and subsidiaries, and integrates sustainable development principles into key business processes. The Sustainability Guidelines monitor compliance with ESG principles, strategic planning in this area and the implementation of relevant initiatives. In turn, responsible persons in structural divisions develop detailed action plans and monitor their implementation in their areas.

Control over the implementation of the strategy is carried out through several mechanisms. Regular monitoring allows you to analyze the implementation of key performance indicators and, if necessary, update strategic plans. An important role is played by monitoring the implementation of investment projects, which includes tracking deadlines and budgets, as well as assessing their effectiveness in accordance with the established strategic goals. Post-investment monitoring allows you to assess the results achieved after the implementation of projects, analyze the return on investment and the impact of the measures taken on the overall strategy of the company.

Implementation of strategic performance indicators in accordance with the Development Strategy for 2024-2033

Goal

Efficiency

Unit Measurements

Plan 2025

Fact 2025

Forecast 2026

Forecast 2033

Ensuring that the growing demand of the economy for electric power and electricity is met

Total sales volume of electricity, basic and gas generation

mln kWh

32.0

33.0

32

≥2.0

Volume of commissioning of base and gas generation capacities

MW

500

500

1,037

≥7.0

Technical Availability Factor (OGC)

%

90%

90.9%

84%

≥80%

Implementation of the plan to meet the needs for coal

%

90%

98%

90%

≥90%

Improving the efficiency of operational, financial and investment activities

Debt/EBITDA

Coefficient

4.3

1.66

5.0

≤3.5

Specific consumption of equivalent fuel

Grams per 1 kWh

354.6

354

297.9

≤330

Investments in fixed assets

Trillion KZT

0.6

0.2

1.1

≥4.0

Gross inflow of foreign direct investment

USD billion

1.3

0.2

1.9

≥8.0

NAV

Ratio to the base year 2023

1.7

1.5

1.6

≥2.0

EBITDA margin by business area

%

  • Coal mining (31.5%)
  • Electricity generation (46.4%)
  • Heat Generation (0.1%)
  • Electricity distribution (41.7%)
  • Coal mining (29%)
  • Electricity generation (44%)
  • Heat generation (10%)
  • Electricity distribution (33%)
  • Coal mining (31.3%)
  • Electricity generation (45.6%)
  • Heat generation (16.1%)
  • Electricity distribution (25.6%)
  • Coal production (≥30%)
  • Electricity generation (≥55%)
  • Heat generation (≥0%)
  • Electricity distribution (≥20%)

Advanced development of renewable energy sources and reduction of negative impact on the environment

Reduction of specific CO2-eq emissions (compared to the base year 2021) relative to the total electricity generation

% of the base year 2021

26.2%

24.7%

25.40%

≥40%

Share of installed capacity of renewable energy sources and hydroelectric power plants in the generation structure

%

31.6%

31.6%

31.70%

≥40%

Following ESG best practices

ESG Rating Upgrade

Rating

Medium ESG / Medium Risks Rating

"3"/57 points (average rating)

Medium ESG / Medium Risks Rating

High ESG/Low Risks Rating

Improving the Social Stability Rating – SRS Index

Rating

Conditionally stable

77

Conditionally stable

Favorable

Achieving zero injuries and fatalities (reducing LTIFR, FIFR, LDR)

Coefficient

  • LTIFR 5 (0.26)
  • FIFR 6 (0.09)
  • LDR 7 (195)
  • LTIFR (0.23)
  • FIFR (0.10)
  • LDR (168.57)
  • LTIFR (0.25)
  • FIFR (0.08)
  • LDR (190)
  • LTIFR (0.18)
  • FIFR (0.01)
  • LDR (155)

The Company's strategic performance continues to improve. The main drivers of growth include

  • Forecasting needs.
  • Economic growth of tariffs, reduction of unit costs, optimisation of costs and debt burden. By 2033, debt is expected to grow due to investment projects.
  • Environmental reduction of greenhouse gas emissions, development of renewable energy sources and hydropower generation.
  • Social compliance with ESG criteria, increasing satisfaction and safety of working conditions.
  1. Lost Time Injury Frequency Rate (LTIF)
  2. The efficiency of the "Fatal Accident Frequency Rate of Accidents Related to Production Activities FIFR"
  3. The efficiency of the "Coefficient of lost working time due to injuries LDR"

In the reporting period, the Company implemented the approved stages of initiatives and projects that comply with the strategic goals and 24 key objectives of the Company's Development Strategy.

Strategic goal

Challenge

Event

Execution Status

Ensuring that the growing demand of the economy for electric power and electricity is met

Construction of coal-fired power plant GRES-3, units 1-4

Pre-Feasibility Study Materials

On 17 April 2025, the development of a pre-feasibility study for the Project "Construction of a coal-fired power plant GRES-3, units 1-4" was completed

On 30 May 2025, the materials of the pre-feasibility study were transferred to state ownership by signing a gift agreement with the Department of State Property and Privatisation in Astana and an acceptance certificate with the Ministry of Energy of the Republic of Kazakhstan.

Construction of a thermal power plant in Kokshetau

Contracts for design, supply of equipment and construction and installation works.

In 2025, contracts were signed for the design, supply of equipment and construction and installation works. As for external infrastructure, the development of design estimates (DED) for domestic and drinking water supply facilities, domestic sewerage, as well as roads with an overpass is at the final stage. The design contractor is developing design and estimate documentation for stage P with division into construction stages.

Construction of a Combined Cycle Gas Turbine (CCGT) Power Plant in the Kyzylorda Region

Development of Pre-Feasibility Study for the project.

On 25 February 2025, Samruk-Energy JSC and UCC signed the Project Shareholders’ Agreement (SHA) in Doha, Qatar.

On 2 May 2025, the joint project company, Kyzylorda Energy Ltd, was registered as a private company under the jurisdiction of the Astana International Financial Centre (AIFC).

A contract was concluded for the procurement of services to develop the Project Feasibility Study.

Transition of the Bogatyr open-pit mine to crusher and conveyor technology

Commissioning

Commissioning works have been completed.

The CCS complex is currently conducting a pilot industrial complex for the transportation and shipment of coal from line 1.

Modernisation of Almaty CHP-2 of "AlES" JSC with minimisation of environmental impact

Positive conclusion of the RSE "Gosexpertiza" on the design and estimate documentation

On 27 June 2025, the installation of the generator and turbine of the first gas turbine unit (GTU) set on the foundations was completed.

On 6 October 2025, a positive conclusion of the RSE “Gosexpertiza” was received on the design and estimate documentation of the Project.

On 23 October 2025, the second turbine and generator set supplied by Siemens Energy was installed on the foundations.

During November–December 2025, four hot-water boilers, three steam boilers, and a steam turbine with a generator were delivered.

Construction and installation works are underway. The pouring of pile foundations for all main buildings and structures has been completed, including the gas-insulated switchgear (GIS), steam-gas facility, water treatment facility, hot-water boiler house, main building, and auxiliary facilities. In addition, the concreting of the retaining wall has been fully completed, and the foundation for the gas turbine unit island has been completed.

Reconstruction of Almaty CHPP-3 based on CCGT with a capacity 
of up to 450 MW

Positive conclusion of the RSE "Gosexpertiza" on the revised design and cost estimate documentation.

Under the Almaty CHPP-3 Reconstruction Project, Special Technical Specifications were obtained from KazNIISA JSC in 2025.

In December 2025, the first turbine and generator set supplied by Ansaldo Energia was delivered to the site.

The second turbine set had been shipped and was undergoing customs clearance as of the end of 2025.

Construction and installation works at Almaty CHPP-3 are underway. In particular, works on the Main Building are progressing according to schedule: blinding concrete works, reinforcement and concreting of the foundations for GTU-1 and the heat recovery steam generator have been completed, and the foundations for GTU-1 and the heat recovery steam generator have been poured.

As of the end of 2025, foundation works for the 220 kV and 110 kV GIS buildings, the water treatment building with circulation systems, and the gas treatment facility had been completed. As part of the Special Technical Specifications obtained, test piles were tested and pile pouring commenced. Installation of the 220 kV, 110 kV and 35 kV overhead transmission line towers was completed in full. The relocation and reconnection of electrical networks commenced with the approval of AZhK JSC and KEGOC JSC.

Expansion and Reconstruction of Ekibastuz GRES-2 with the Installation of Power Unit No. 3

Positive conclusion of the RSE "Gosexpertiza" on the revised design and cost estimate documentation.

The design and cost estimate documentation developed by the EPC contractor was uploaded to the portal of the RSE “Gosexpertiza”.

Construction and installation works.

The EPC contractor commenced preparatory works.

Expansion and Reconstruction of Ekibastuz GRES-2 with the Installation of Power Unit No. 4

Positive conclusion of the RSE "Gosexpertiza" on the revised design and cost estimate documentation.

The design and cost estimate documentation developed by the EPC contractor was uploaded to the portal of the RSE “Gosexpertiza”.

Modernisation of the Hydropower Unit at Ust-Kamenogorsk HPP

Development of design and cost estimate documentation.

A positive expert opinion was obtained.

Construction and installation works.

A contract for construction and installation works was concluded.

Reconstruction and modernisation of the fuel supply production complex

Construction and installation works (CIW)

In 2025, work was completed on the construction part

Transfer unit – 90%

installation of metal structures, transfer unit – 70%

Preparation of metal frames for pouring concrete, conveyor gallery – 60%

Installation of crushing building equipment No. 3 – 60%

pouring concrete of a closed coal warehouse – 40%.

Construction of chimney No. 1 at Ekibastuz GRES-1 LLP

Development of design and estimate documentation (DED)

On 19 September 2025, a positive conclusion was received from the RSE "Gosexpertiza"

Construction of 110/10-6 kV Turksib substation

Commissioning Act

Construction, installation and commissioning works have been completed.

Rehabilitation of Power Unit No. 1 at EGRES-1

Facility Acceptance Certificate

Construction and installation work has been completed, an acceptance certificate of the facility has been signed

Reduction of wear and tear of electrical networks

Reduction of depreciation of electrical networks in 2025 to 85.4%

According to the results of the implementation of the investment programme, the depreciation of networks is 84.4%

Coal exports to Russia

Ensuring the export of unwashed coal to the Russian Federation

At the end of 2025, coal exports amounted to 9.953 mln tons

Reduction of losses in the networks of JSC AZhK

Reduction in the level of technological losses in 2025 to 11.23%

At the end of 2025, the level of actual technical losses for the reporting period amounted to 10.33%.

Strategic goal

Challenge

Event

Execution Status

Improving the efficiency of operational, financial and investment activities

Implementation of the programme on energy saving and energy efficiency in the group of companies of "Samruk-Energy" JSC

Report on the implementation of the energy saving and energy efficiency programme

65 events are planned for 2025. At the end of the year, according to operational data, 67 different measures were implemented, the implementation of measures to improve energy efficiency in the group of companies of “Samruk-Energy” JSC made it possible to save more than 243.7 thousand tonnes of coal equivalent (tce) in the amount of 2.7 billion KZT (with a plan of 1.5 billion KZT).

Reorganisation of "AZhK" JSC and "AlmatyEnergoSbyt" JSC, through the merger of "AlmatyEnergoSbyt" JSC with "AZhK" JSC

State registration of reorganisation in NJSC "Government for Citizens"

On 30 January 2025, by order of Government for Citizens NCJSC, the termination of the activities of AlmatyEnergoSbyt LLP was registered in connection with the merger with Alatau Zharyk Company JSC.

Redomiciliation of Forum Muider to the AIFC jurisdiction

Legal due diligence of Forum Muider in the AIFC authorities (Legal Certification)

In October 2025, the procedure for redomiciliation of Forum Muider Limited in the AIFC jurisdiction was completed, as a result of which a Certificate of Continuation of Activities was obtained, confirming the status of the Company as an AIFC participant.

Automation of HR processes

Automation of HR processes in "Samruk-Energy" JSC group of companies

The system has been implemented.

In 2025, the stage of system adaptation was passed, integration with Enbek.kz and Egov systems (EDS) was implemented, and work was carried out on integration with 1C, Qsamruk.

Implementation of an information security system

Information security services

As of 31 December 2025, all information security systems in all subsidiaries and affiliates under the contract are operating normally

Implementation of a production monitoring system

Production monitoring system (Situation Center), which carries out monitoring of business processes related to the economic and production activities of the company and the adoption of operational and management decisions

The system was implemented on 31 January 2025.

Robotisation of business processes (RPA)

Services for the use of a software product for robotisation of business processes

In 2025, work was carried out to analyze business processes in CCs and subsidiaries. Bots have been implemented in IBM RPA.

Electronic Archive

Automation of the business process for the organisation of archival storage of documents

The work has been completed, the system has been put into operation.

Implementation of the Investment Project Management System (IMS) for the group of companies of "Samruk-Energy" JSC

Certificate of Completion

The work is completed, the system is deployed and configured.

Improving Market Analysis Methodologies

Monitoring of the market and potential new consumers of electricity and coal in the Republic of Kazakhstan and neighboring countries (Uzbekistan, Kyrgyzstan, Russia, China, etc.)

The information is included in the monthly report "Analysis of the Electricity Industry Market in Kazakhstan"

Implementation of digital services for employees (HSE BPMS system, ITSM, Compliance, ESG)

Providing access to the BPMS-system of Bogatyr Komir LLP

The work has been implemented.

Compliance with financial covenants

Creditors' financial covenants are complied with

Creditors’ financial covenants are complied with

Implementation and implementation of the Company's Financial Strategy based on the principles of cash flow management

Annual review of the Company's credit ratings by an international rating agency (holding a rating session, providing the requested materials)

All reports and information were provided to Fitch Ratings in due time, the rating was affirmed on 30 September 2025 at BB+, outlook "Stable".

Implementation of the project "Modernisation of the 1C platform" (ERP)

Work on the implementation of an automated information system based on 1CERP software in GRES-1

In 2025, the information system was put into commercial operation at EGRES-1 LLP.

Installation of an automated system for monitoring emissions into the environment at GRES-1 (plant-wide AFM)

Installation of an automated environmental emissions monitoring system at GRES-1 at power units No. 3, 4, 5 and 6.

AFM equipment is installed.

Installation of an automated system for monitoring environmental emissions at GRES-2

Installation of an automated emission monitoring system at GRES-2

AFM equipment is installed.

Installation of an automated system for monitoring emissions into the environment at AlES

Installation of an automated system for monitoring emissions into the environment at CHPP-1 and ZTK (AlES)

Acceptance Certificates signed

Modernisation of brush-contact devices with a permanent electronic monitoring system at EGRES-2 (Unit No. 1)

Measure for the modernisation of the SHKA

Brush-contact devices were upgraded with the introduction of a continuous electronic monitoring system at power units No. 1 and No. 2 of GRES-2.

Analysis of the feasibility of introducing new technologies and implementing pilot projects

Smart Meters

In 2025, contracts were signed and equipment was purchased for collecting and transmitting data from consumers' electricity meters.

Improving information security

Action plan for the implementation of the requirements of the Corporate Information Security Standard of Samruk-Kazyna JSC

An Action Plan for the implementation of the requirements of the Corporate Information Security Standard of Samruk-Kazyna JSC was developed and approved

"Development of an automated system for commercial metering of electricity for substations of regional distribution zones and distribution substations of the city of Almaty, expansion of existing dispatching systems with the installation of telemechanics and communication systems in housing and utilities services, tres of AZHK JSC (SCADA)

Works within the framework of the implementation of the Housing and Utilities Distribution Systems, TRES project in terms of replacement with digital channel-forming equipment for high-frequency communications. Installation of telemechanics equipment at the junction substations of the region

The system is designed and installed

Participation in the development and discussion of legislative initiatives, preparation of relevant recommendations in cooperation with industry associations, in order to take into account the interests of the Company and subsidiaries and affiliates.

Interaction with industry associations

On an ongoing basis, the Company interacts with industry associations to develop and discuss legislative initiatives and prepare recommendations aimed at taking into account the interests of the Company and its subsidiaries and affiliates.

Monitoring of amendments to legislation in the energy industry in order to adapt the activities of the Company and its subsidiaries and affiliates in a timely manner.

Monitoring of Amendments to Regulatory Legal Acts

Monitoring of amendments to regulatory legal acts in the field of electric power industry is carried out on an ongoing basis.

An explanation of the adopted amendments for structural subdivisions was carried out. Discussions of the proposed changes are held with market participants, including subsidiaries and affiliates

Introduction of Amendments and Additions to the Methodology for Calculating the Level of Depreciation of Fixed Assets of Energy-Producing Organisations

Proposals for the Methodology for Calculating the Level of Depreciation of Fixed Assets of Energy-Producing Organisations

Proposals were developed for the Methodology for calculating the level of depreciation of fixed assets of energy-producing organisations and were sent to the Kazakhstan Electric Power Association to initiate appropriate changes to the regulatory legal acts. The amendments were sent to the Ministry of Energy of the Republic of Kazakhstan for adoption. Amendments to the Capacity Market Rules in terms of the nominal period of repair work have been prepared and sent to market participants. The Ministry of Energy has launched a methodology for approval by the Association of Legal Entities.

Participation in the improvement of the legislation of the Republic of Kazakhstan in order to ensure the return on investment for projects for the construction of pumped storage power plants/hydroelectric power plants (PSPP/HPP)

Amendments to provide a mechanism for the return on investment.

A working meeting was held at the Ministry of Energy of the Republic of Kazakhstan to discuss these amendments A letter was sent to the Ministry of Energy of the Republic of Kazakhstan with a proposal to amend the ZRK "On the Electric Power Industry". Meetings and discussions were held with the Deputies of the Mazhilis of the Republic of Kazakhstan and interested state bodies. On 22 October 2025, the working group of deputies of the Mazhilis considered the draft amendments, as a result of which it was decided to send them to the conclusion of the Government of the Republic of Kazakhstan and hold a face-to-face presentation of the PSPP project. 28 November 2025 The Ministry of Energy sent to the Government Office a draft conclusion with the agreed positions of state bodies, 1 December 2025 materials were sent to the Administration of the President of the Republic of Kazakhstan, comments were received from the legal department of the Government Office,

Participation in the improvement of the legislation of the Republic of Kazakhstan in order to ensure a return on investment for projects for the construction of electricity storage systems (ESS) through the capacity market (as part of the project for the implementation of SPPs up to 1 GW (United Green)

A working meeting was held at the Ministry of Energy of the Republic of Kazakhstan to discuss these amendments.

These amendments were included in the draft of the Law of the Republic of Kazakhstan “On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on the Development of Alternative Energy Sources” - developed by the Ministry of Energy of the Republic of Kazakhstan. (the draft law is at the stage of development and discussion). 1 April 2025 - the bill was sent for public discussion within the framework of the Open RLA platform. 18 April 2025 - KEA sent a summary table with comments and suggestions to the Ministry of Energy of the Republic of Kazakhstan. On 2 August 2025, the draft law “On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on the Development of Alternative Energy Sources” was submitted to the Office of the Government of the Republic of Kazakhstan for an opinion. In addition, for approval and obtaining a position, the draft law was sent to the Administration of the President of the Republic of Kazakhstan. A position was received from the Administration of the President of the Republic of Kazakhstan. On 28 November 2025, the draft law was sent from the Ministry of Energy of the Republic of Kazakhstan to the Mazhilis of the Parliament of the Republic of Kazakhstan.

Advanced development of renewable energy sources and reduction of negative impact on the environment

Expansion of the renewable energy project to 810 MW in the Almaty region (Power China)

Development of a power distribution scheme (ACP), obtaining technical specifications

On 30 December 2025, KEGOC agreed on the power delivery scheme taking into account the comments.

Construction of a solar power plant with a total capacity of up to 1 GW with UNIGREEN ENERGY

Signing of electricity purchase and sale agreements for projects of the 1st stage for 500 MW

Electricity Purchase and Sale Agreements signed with KEGOC and KAP

Carbon Capture and Storage (CCS) Technologies

Study of the possibilities of applying gasification technology and synthesis gas production for coal chemistry at coal-fired power plants of "Samruk-Energy" JSC.

One of the options for decarbonizing coal energy is the use of carbon capture, storage and CO2 technology - CCS (Carbon Capture & Usage and Storage), which is considered as an opportunity to extend the existence of the existing energy system and fulfill the commitment to decarbonise the country's economy, but at the same time leading to a significant decrease in the volume of electricity generated and a very significant increase in cost electricity. It is impossible and inexpedient to use this technology at the existing thermal power plants of Kazakhstan with steam turbine cycle power units, since it will require significant costs comparable to or exceeding the costs of construction of a new thermal power plant with intra-cycle gasification using the proposed technology.

Sale of carbon units (offsets) and I-REC certificates

Concluded contracts

In September 2025, Energia Semirechyа LLP sold 320 offset units. In October 2025, the Partnership sold 3,366 offset units.

Placement of green bonds on KASE and AIX

Information about the Company is provided in the AIX

All reports and information are provided to AIX as required in due time

Raising funding from DFO, ECA

Obtained terms and conditions from MIGA

Received terms and conditions from MIGA, as well as various offers from commercial banks

Construction of a wind farm with a capacity of 1 GW with an energy storage system jointly by China Power International Holding Ltd.

Signing of the IPU

The IPS was signed between the Governments of the Republic of Kazakhstan and the People's Republic of China on the implementation of projects in the field of renewable energy sources. The project is included in the list of major projects.

Signing of Project Documentation (CoI, PPA)

In 2025, work was carried out to sign the documentation for the Project. On 29 January 2026, the CoI and PPA were signed.

Construction of a wind farm with a capacity of 1 GW with an energy storage system in cooperation with Masdar

Development of a power distribution scheme (ACP), obtaining technical specifications

The power distribution scheme has been agreed. An application for technical specifications has been sent to KEGOC.

Signing of Project Documentation (CoI, SHA, PPA)

Documents for the Project were signed (CoI, SHA, PPA)

Establishment of a joint venture (JV)

On 11 November 2025, the project company Qazaq Wind Power LLP was established on the basis of the AIFC

Construction of a 1 GW wind farm with an energy storage system with Total Eren

Positive expert opinions were obtained on the developed design and cost estimate documentation.

Work has been carried out on the development of design and estimate documentation. The first package of design and estimate documentation was submitted to the RSE "Gosexpertiza" in 20 December 25. The design and cost estimate documentation comprises 10 stages.

Conducting a detailed analysis of the list of goods with a low share of domestic value

Identification of products to increase local content.

The reporting form for goods purchased under contracts for the procurement of goods, works and services (Form 4 on External Commercial Centre) is submitted to the ISEZ (in the procurement information system), which reflects goods with a zero External Trading Centre. On a quarterly basis, proposals are sent to Samruk-Kazyna Contract LLP on the inclusion of goods not produced in the territory of the Republic of Kazakhstan for inclusion in the Pool of Goods for Import Substitution for 2025 (list of imported products, long-term need by Fund Organisations)

Following ESG best practices

Strengthening the quality and accessibility of information in public reporting through the use of international standards and the development of best practices in information disclosure. Impact assessment and identification of material topics for the Integrated Annual Report

The 2024 Integrated Annual Report has been prepared in accordance with GRI Standard 2021, AA1000, AIX, KASE, ISO 26000:2010, and some LSE, IR, SASB, TCFD indicators

The Annual Report was approved by the decision of the Board of Directors of "Samruk-Energy" JSC and the Materiality Matrix was approved by the decisions of the Board of Directors of "Samruk-Energy" JSC of the Company

Conducting regular trainings and education for employees on anti-corruption policies and ethical standards to raise awareness and prevent corrupt practices

Trainings and trainings were held for employees on anti-corruption policy and ethical standards

In order to form an anti-corruption culture and zero tolerance for any forms of bribery and corruption, during the reporting period, more than 275 training events/explanatory meetings were held in the Company and subsidiaries and affiliates, more than 65 mailings were carried out explaining the requirements of the Law of the Republic of Kazakhstan "On Combating Corruption", the features of the Company's anti-corruption policy and the Code of Conduct of "Samruk-Energy" JSC, the specifics of the exchange of gifts, the declaration of conflicts of interest (including the provisions of the Law of the Republic of Kazakhstan). for top management and newly hired employees).

Improving the ESG rating

Received an ESG rating with a score of 57, an average level of '3'

On 18 December 2025, the Report was received from Sustainable Fitch Ltd, ESG rating was assigned with a score of 57 points, an average level of '3'

Independent assessment of the Board of Directors

Independently assessed in 2025 Dostyk Advisory.

The report was approved by the decision of the Board of Directors of the Company.

Improvement of the Company's practices for conducting and assessing climate risks for the Company's core activities: the impact of climate risks in the region (increase in average air temperature, reduced availability of water resources) on the electricity and heat power sector. Development of measures to manage climate risks.

Consolidated Risk Register of "Samruk-Energy" JSC

A new version of the Consolidated Risk Register was approved (by the Resolution of the Board of Directors of the Company dated 20 June 2025 (Minutes No. 10/25). "70-C-SE - Climatic Physical Risks", "71-C-SE - Climate Transition Risks" were identified and included in the register, measures for managing climate risks were developed.

Development of human capital

Regular training programmes for managers on management skills, leadership, strategic planning and innovation, as well as best practices in management and operational management

On 23 September 2025, the participants of the Talent Pool were trained on the topic "Leadership in the flow: motivation, influence and energy". On 18 November 2025, CEO-2 was trained on the topic "Leadership Today". On 28 November 2025, 76 employees were trained on the topic of "Gender equality"

Reduced employee turnover

Reduction of staff turnover, except for measures related to personnel optimisation

Staff turnover for 2025 was 10.3% against the plan of 14%.

Ensuring social guarantees and social stability in the Company

A survey of the production personnel of Samruk Research Services Company's subsidiaries and affiliates and studies of the well-being of the administrative and managerial personnel of "Samruk-Energy" JSC and its subsidiaries and affiliates were conducted

The result of the survey of production personnel of Samruk Research Services subsidiaries and affiliates for 2025 amounted to 77%. The result of the study of the well-being of the administrative and managerial personnel of "Samruk-Energy" JSC and its subsidiaries and affiliates amounted to 59%.

Employment of persons with disabilities in work that does not require physical activity, for example, dispatchers, call centre employees in subsidiaries and affiliates

The Program for Creating and Maintaining a Favorable, Inclusive and Accessible Environment for Persons with Disabilities in "Samruk-Energy" JSC Group of Companies was approved by the decision of the Management Board of "Samruk-Energy" JSC dated 19 June 2024

At the end of 2025, the number of persons with disabilities working in the Company amounted to 213 people.

Training of promising students at the expense of (grant) of energy-producing enterprises to further cover the need for technical specialists/working professions in subsidiaries and affiliates

Training of promising students at the expense of (grant) of energy-producing enterprises to further cover the need for technical specialists/working professions in subsidiaries and affiliates

In 2025, grants to students were provided by "AlES" JSC, Ekibastuz GRES-1 named after Bulat Nurzhanov LLP, Ekibastuz GRES-2 Station JSC.

Improving the quality of management of contracting organisations in the field of industrial safety

Approved internal regulatory document of subsidiaries and affiliates on software management

Model Regulation on organisation of work of contractors in "Samruk-Energy" JSC group of companies approved

Approval of the Plan for the implementation of the Strategy for the development of the industrial safety management system of Samruk-Kazyna JSC for 2024-2028

The Plan was developed and sent to subsidiaries and affiliates for implementation

The implementation of the Plan for the implementation of the Strategy for the Development of the Process Safety Management System of Samruk-Kazyna JSC for 2024-2028 continues.

Preparation of an annual sustainability report in accordance with the GRI

Integrated annual report prepared in accordance with GRI approved

The integrated annual report prepared in accordance with the GRI was approved by the Company's Board of Directors.

Provision of reports/information about the Company to creditors, financial institutions, rating agencies according to their requests

Provision of reports/information about the Company to creditors, financial institutions in accordance with the requirements of existing loan agreements, rating agencies in accordance with their requests

All reports and information were submitted to Fitch Ratings in due time, and the rating was affirmed.

Reproduction of fish resources

Stocking reservoirs

In 2025, water bodies were stocked in “AlES” JSC (Kapshagay HPP) and AES Ust-Kamenoroskaya HPP LLP.

Strategic Session

In September 2025, in the city of In Almaty, a strategic session of "Samruk-Energy" JSC was held with the participation of members of the Board of Directors, members of the Management Board and heads of key structural divisions.

The session was devoted to responding to global and industry trends, including increased competition, increased electricity consumption in Kazakhstan, technological challenges and the need to increase the innovative activity and sustainability of the company.

The Strategic Session is associated with the current challenges facing the country's energy sector, as well as the need to implement the priorities outlined in the Address of the Head of State Kassym-Jomart Tokayev to the people of Kazakhstan dated 8 September 2025 "Kazakhstan in the era of artificial intelligence: urgent tasks and their solutions through digital transformation".

The following factors were identified as key prerequisites for the strategic session

  1. Global trends

The global energy sector is undergoing profound changes under the influence of global trends. Competition is increasing, new technologies such as artificial intelligence, digitalisation, as well as new solutions in the field of energy storage are emerging. These innovations are not only fundamentally changing the way we produce and consume energy, but also opening up new opportunities to improve the efficiency and sustainability of the industry.

  1. Changes in market conditions

The domestic market of Kazakhstan is characterised by an increase in electricity consumption. In the energy system of Kazakhstan, there is a daily imbalance between generation and consumption. With the growth of electricity consumption, the load on the energy system of Kazakhstan is growing. The shortage of electricity during peak consumption hours reaches about 1.7 GW, which is covered by imported electricity. In these conditions, the task of improving operational efficiency becomes a priority for ensuring the stability and sustainable development of the energy system.

  1. Technological challenges and opportunities

To solve current problems, it is necessary to integrate modern digital tools that will allow you to more accurately predict energy demand, manage production processes and optimise costs. Production optimisation, supported by cutting-edge research developments, is becoming a key factor in competitiveness.

  1. Long-term sustainability challenges

Long-term sustainability directly depends on the Company's ability to constantly increase innovation activity and strengthen competitiveness. It is necessary to stimulate the development and implementation of new technologies, develop scientific potential and create conditions for systemic changes.

The main objectives of the strategic session were to familiarise themselves with the status of implementation of the Development Strategy for 2024-2033 and discuss new strategic initiatives.

As part of the course implemented at the state level for the development of artificial intelligence and digitalisation, ongoing and promising projects were considered and discussed: Intelligent video analytics systems to improve the level of occupational health and safety, Predictive detection of defects to reduce unscheduled repairs and downtime, Use of AI to improve the accuracy of forecasting the generation of renewable energy facilities.

The initiative to diversify the project portfolio by entering new markets was of great importance. Promising projects in the field of hydroelectric power plants, solar power plants, wind farms, gas generation and energy storage systems, preferably in the countries of Central Asia, were considered. It was noted that participation in such projects will reduce dependence on domestic market conditions, expand the geography of the company's presence and form sustainable sources of foreign exchange earnings.

Within the framework of cooperation with foreign partners, it was proposed to strengthen research and applied activities focused on the development of pilot projects, as well as on interaction with Kazakhstani universities. The main task is to reduce dependence on imported solutions and adapt technologies to the specifics of Kazakhstan's energy sector, including the features of the coal base, climatic conditions and existing infrastructure.

In order to improve operational efficiency, as well as the efficiency of electricity generation and transmission processes, it is planned to further develop approaches to centralizing the management of operating modes and return on assets. The possibilities of implementing an integrated system that provides round-the-clock monitoring of the fulfillment of planned obligations, prompt response to deviations, centralised management of the submission of applications for balancing, as well as visualisation and processing of technological parameters in real time are considered. The implementation of these solutions opens up prospects for increasing management transparency, improving the coordination of production processes and more efficient use of energy assets.

Following the discussion, the importance and regularity of strategic sessions as an effective tool for managing the implementation of the Development Strategy and the formation of new areas of growth were confirmed.