Hydropower plant in Almaty oblast, Raimbek district, on the Orta Kakpak river, near Kakpak village

In 2023, Konaev & Company LLP completed the investment project for the construction of a hydroelectric power plant and commissioned the plant with a total capacity of 2.2 megawatts. The total demand of the Rayimbek District, where the project is implemented, is 6 megawatts. Equipment for the operation of the plant was purchased and imported from the Czech Republic. The total investment cost of construction was US$3.5 million, of which US$2.1 million was financed by JSC Bank CenterCredit  under the Green Economy Financing Facility (GEFF) from the EBRD.

A credit manager of JSC Bank CenterCredit  informed the management of Konaev and Company LLP about the GEFF program, convincing the company to take advantage of its benefits. As a result of project, CO2 emissions will be reduced by 8,334 tonnes per year, with total primary energy savings of 31,523 MWh per year.

“We have long planned to make a positive contribution to reducing the existing power shortage in the south-eastern region of Kazakhstan, and in the Almaty region in particular. With the support of funding from CenterCredit Bank under the EBRD’s Green Economy Financing Facility Programme (GEFF), we have been able to successfully implement our investment plans,” commented Zhanuzak Bodanovich Konaev, Director of Konaev & Company LLP.

The project was implemented with the support of the Global Environment Facility (GEF) and the Austrian Federal Ministry of Finance.