QAZAQ GREEN.  On November 12, 2024, an auction took place to select projects for the construction of hydroelectric power plants across various zones of Kazakhstan’s Unified Electric System (excluding the Tentek River). The total planned installed capacity from this auction was set at 100 MW.

Four companies were qualified to participate, submitting a total of 10 bids during the trading session. The combined capacity proposed by the participants totaled 101 MW. The starting auction price cap was 41.23 KZT per kWh (excluding VAT). Through competitive bidding, offers ranged from 41.23 down to 40.93 KZT per kWh (excluding VAT). In line with the Rules for the Organization and Conduct of Auctions, the selected capacity volume was raised from 100 MW to 101 MW.

The auction identified the following companies as winners:

• Korinskaya HPP-2 LLP with a project capacity of 5 MW and an auction price of 40.93 KZT/kWh (excluding VAT);
• KALZHYR RIVER ENERGY LLP with a project capacity of 16 MW and an auction price of 40.94 KZT/kWh (excluding VAT);
• Korinskaya HPP-2 LLP with a project capacity of 26 MW and an auction price of 40.99 KZT/kWh (excluding VAT);
• Cascade NRG LLP with a project capacity of 10.5 MW and an auction price of 41.00 KZT/kWh (excluding VAT);
• Baskan Irrigation LLP with a project capacity of 30 MW and an auction price of 41.22 KZT/kWh (excluding VAT).

Representatives from the Ministry of Energy of the Republic of Kazakhstan, Qazaq Green RES Association, Kazakhstan Electric Power Association, USAID, and the European Bank for Reconstruction and Development (EBRD) served as observers. Observers praised the auction organizer, KOREM JSC, for the full transparency of its electronic trading system.

According to the auction schedule, two auctions have been held this year for selecting projects to construct large hydroelectric power plants, with a total capacity of 300 MW. The next auction, scheduled for November 13, 2024, will select projects to construct hydroelectric plants with a total capacity of 30 MW.