EDB to Finance Construction of a New Power Unit at Ust-Kamenogorsk CHPP
Astana, 12 August 2026
Financing from the Eurasian Development Bank (EDB), in partnership with Halyk Bank, will enable one of East Kazakhstan’s largest energy projects to increase the plant’s heat capacity by 130 Gcal/h and electricity capacity by 100 MW by 2030, strengthening the reliability of energy supply in the growing region. Total capital expenditures on the project amount to USD 240 million.
The construction project was officially launched at a ceremony marking the laying of a time capsule. The ceremony was attended by Nurymbet Saktaganov, Akim of East Kazakhstan Region; Yerlan Akkenzhenov, Minister of Energy of the Republic of Kazakhstan; Ruslan Dalenov, Deputy Chairman of the Management Board of the Eurasian Development Bank (EDB); Olga Vuros, Deputy Chairwoman of the Management Board of Halyk Bank of Kazakhstan JSC; Dinmukhamet Idrisov, Chairman of the Supervisory Board of Kazakhstan Communal Systems LLP; Sabyrgali Idrisov, General Director of Kazakhstan Communal Systems LLP; and Azamat Beimbetov, General Director of Ust-Kamenogorsk CHPP.
Ruslan Dalenov, Deputy Chairman of the Management Board of the Eurasian Development Bank (EDB), said: Over the past five years, EDB has financed projects totaling more than USD 6.5 billion. Energy is one of the Bank’s key areas of activity and accounts for a significant share of our investment portfolio. Therefore, EDB’s participation in this project is fully aligned with the Bank’s strategic priorities and objectives. The project is being implemented with the support of the Ministry of Energy of the Republic of Kazakhstan and is included in the country’s national programs. For EDB, it is important to support large-scale and strategically significant projects of this kind that make a substantial positive contribution to the country’s social and economic development.
A New Energy Resource for a Growing City
Financing from the EDB in partnership with Halyk Bank will expand the plant’s energy capacity. Ust-Kamenogorsk CHPP currently meets 85% of the city’s demand for centralized heat supply, while the growing housing stock, expanding social infrastructure and new industrial projects are driving demand for heat and electricity. The project will create the necessary capacity reserve to support the further development of Ust-Kamenogorsk and the region.
The project will also incorporate advanced technological and environmental solutions. The plant will be equipped with high-efficiency emission control systems compliant with the Environmental Code of the Republic of Kazakhstan and European standards.
For EDB, its involvement in the expansion of Ust-Kamenogorsk CHPP is part of its ongoing efforts to support the modernization of Kazakhstan’s energy infrastructure. The project has been prepared with EDB’s financial and expert support, including assistance with financing structuring and the development of design and cost-estimate documentation. Earlier, in 2025, the Bank supported the expansion of Karaganda CHPP-3, with capital expenditures of USD 260 million. Both projects are aimed at expanding generation capacity and strengthening the reliability of energy supply across Kazakhstan’s regions.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of June 2026, the EDB’s cumulative portfolio comprised 348 projects with a total investment of US $22.1 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The EDB is implementing three mega-projects as part of its 2022–2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.
The EDB Media Centre:
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