“Central-Asian Electric Power Corporation” JSC and European Bank for Reconstruction and Development entered into Indemnity agreements for the purposes of modernization energy generation equipment and electric networks of Pavlodar and North-Kazakhstan regions.

Joint-stock company “Central-Asian Electric Power Corporation” (hereinafter – “CAEPCO” JSC or Company) on May 22, 2013 entered into Indemnity agreements with European Bank for Reconstruction and Development (hereinafter – EBRD or Bank) for the purposes of modernization assets of the Company for the overall amount of USD 138 mln.

Raised financing will be forwarded to implementation of investment programs of “CAEPCO” JSC subsidiary organizations for increasing capacities of generating assets in Pavlodar and North-Kazakhstan regions, improvement of environmental standards of the production by means of reduction of emissions, reconstruction and modernization of networks assets for reduction of electric energy transmission losses.

Within the frames of financing credit facilities to be provided to “PAVLODARENERGO” JSC in amount of USD 80 mln., “SEVKAZENERGO” JSC – USD 40 mln., “Pavlodar REDC” and “North-Kazakhstan REDC” – USD 9 mln. for each. Together with Bank investments “CAEPCO” JSC directs own facilities for implementation of investment program.

Alexandr Klebanov, Chairman of the Board of Directors of “CAEPCO” JSC stated, “CAEPCO” JSC as a socially responsible company implements investment program for enhancing reliability of energy equipment operations, rendering qualified services for consumers. We already have invested dozens of USD millions for modernization and renovation of worn and exhausted equipment and improving environmental standards of production. Capped tariffs program implemented in the industry makes great importance for qualified development of Company’s assets. By means of governmental support energy sector started to obtain real investments and correspondingly responsible market players possessed the possibility for implementing wide scaled investment projects”.

Entirely by means of implementation of all above mentioned investment activities at Pavlodar CHP-3 and Petropavlovsk CHP-2 installed electric capacity of “CAEPCO” JSC by 2018 will increase from 974 MW up to 1157 MW, what correspondingly will lead to increase of electric and heat energy generation, necessary as for domestic consumers and industrial entities being commissioned under the Government program of forced industrial-innovative development of RK.

Yerkyn Amirkhanov, Member of the Board of Directors, President of “CAEPCO” JSC noted, “In the result of Company’s investment program planned for the period of 2013 – 2018, sufficient renovation of Company’s generating assets, more than by 8 times is expected: by 2018 proportion of fully renovated generating assets of heat and electric stations of “CAEPCO” JSC will amount to 60% of all assets. Within the frames of investment program activities special attention is paid to environmental issues and reduction of electric and heat energy transmission loses”.

Reference:
JSC «Central Asian Electric Power Corporation» is vertically-integrated energy company. Subsidiary companies the regions of Kazakhstan are represented by JSC “SEVKAZENERGO” and JSC “PAVLODARENERGO” which include all chains of power supply: generation, transmission and sales. In Astana JSC «CAEPCO» controls sales company – LLP «ASTANAENERGOSBYT». Total installed electric capacity of «CAEPCO» JSC constitutes 974 MW, heat capacity – 2 881 Gcal/h. Total length of electricity transmission lines is 30 th km., heat networks 985 km. The Company provides with more than two million people with electric energy.

For additional information, please, contact:
Smagulov Kadyrzhan, Department for Public Relations of JSC «CAEPCO»
Tel. +7 (727) 258 49 41 (ext. 217), Mobile phone: +7 707 814 88 98, +7 701 951 20 12, k.smagulov@energy.kz