New Energy research report from Business Monitor International is now available from Fast Market Research

Boston, MA -- (SBWire) -- 01/01/2014 --Healthy growth is anticipated for Kazakhstan's power sector over BMI's 10-year forecast period, both in terms of generation and consumption. Non-hydro renewables will be the primary growth driver, with a slew of wind and solar projects in the pipeline. These are attracting foreign players, with noted interest from French, German and South Korean companies. However, coal will retain its dominance, accounting for over 80% of the country's energy generation by 2022. Power production will comfortably meet demand, with Kazakhstan's dependence on energy imports to decrease over the 10-year period.

Kazakhstan has vast reserves of gas; however, the country's power industry is seeking to avoid overdependence on it for electricity and has a diversified fuel policy involving coal, hydropower and renewables. Nuclear has been sidelined over the past few years, but could emerge as a key component of the power portfolio long term, thanks to vast uranium wealth. System losses are considerable, and improved efficiency would have the potential to narrow the supply/demand gap significantly. Ongoing investment in generation, transmission and distribution infrastructure is therefore necessary, and foreign partners, largely from Asia and Russia, are being lined up for major projects.

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Key trends and developments in the Kazakh electricity market:

- In November 2013, it was announced that Korea Electric Power Corporation (KEPCO) will put off the launch of its IPO until 2014, after it failed to complete the necessary preparations in time. Company chairman Bakytzhan Kazhiyev stated in an interview published by Newskaz that there is 'too little time' for an IPO to be carried out in 2013. The move, when carried out, will see around 10% of the company's shares floated on the Kazakhstan Stock Exchange (KASE).
- In November 2013, it was reported that the Ridder thermal plant could be sold to Samsung, with the deal backed by the Mayor of Ridder. The plant is currently owned by American businessmen. The town has been experiencing problems with its heating system, as it is worn out and badly maintained. However, in 2013, just 1.5km of pipework was replaced by the plant's owners, further strengthening support for the sale to the South Korean company.
- In November 2013, it was reported that Kazakhstan and Canada plan to jointly invest US$200mn in a uranium conversion facility. Vladimir Shkolnik, Kazatomprom National Uranium Company Chairman of the Board, is quoted as saying: 'We are working to launch a facility capable of feeding 40 nuclear power plants.' A nuclear cooperation agreement has been signed by Kazakhstan's Vice PM and Minister of Industry and New Technology, Asset Issekeshev, and Canada's Foreign Minister, John Baird.

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