Kazakhstan has formalized plans to build its first nuclear power plant, signing the main construction contract with Russia’s Rosatom for a two-reactor facility near Lake Balkhash. The plant, preliminarily estimated to cost around $16.4 billion, will have a combined capacity of about 2.4 gigawatts, with most of the financing expected to come through a Russian state export loan. Rosatom was selected to lead the project in June 2025, meaning the latest agreement formalizes a decision made more than a year ago. Major construction work is expected to begin in 2027.
The contract was signed on September 3 in Vladivostok during the Eastern Economic Forum. Kazakhstan Nuclear Power Plants, the state-owned company established to implement nuclear projects, signed the agreement with Atomstroyexport, Rosatom’s engineering subsidiary. The contract covers engineering, equipment supply, and construction of the plant.
Almassadam Satkaliyev, chairman of Kazakhstan’s Atomic Energy Agency, said after the signing that Rosatom is expected to obtain the necessary site license in 2027, allowing construction to begin. He had previously identified 2034 as the target for bringing the first unit online, while the full construction cycle is expected to take about a decade.
The nuclear power plant will be built near the village of Ulken on the western shore of Lake Balkhash, about 400 kilometers from Almaty. It will consist of two Russian-designed VVER-1200 reactors with a combined capacity of around 2.4 gigawatts. That is equivalent to about 9% of Kazakhstan’s current installed generating capacity.
Site preparation began in the summer of 2025. Specialists started engineering surveys and drilling wells to study the site’s suitability for the plant.
Kazakhstan is returning to nuclear power generation after more than a quarter of a century. The Soviet-built BN-350 reactor in Aktau, which supplied electricity and district heating and supported large-scale seawater desalination, ceased operations in 1999. Kazakhstan has had no operating nuclear power reactors since then.
In October 2024, the construction of a new nuclear power plant was put to a nationwide referendum, with a majority of participating voters supporting the proposal. In June 2025, Kazakhstan selected Rosatom to lead the international consortium for the project. The Russian proposal ranked first among four options considered, alongside bids from China’s CNNC, France’s EDF, and South Korea’s KHNP.
The preliminary cost of the nuclear power plant is estimated at around $16.4 billion. Of that amount, approximately $14.4 billion is expected to cover the two generating units, with another roughly $2 billion allocated for infrastructure, physical protection systems, and fuel for the warranty period.
Most of the project is expected to be financed through a Russian state export loan. The detailed financing terms have not yet been made public.
Kazakhstan is also allocating its own funds. The draft national budget for 2027-2029 earmarks 818.3 billion tenge, or about $1.7 billion, to increase the capital of Kazakhstan Nuclear Power Plants. Of that amount, 247.9 billion tenge is planned for 2027, 303.1 billion for 2028, and 267.3 billion for 2029.
Kazakh authorities intend to involve domestic companies in construction, equipment manufacturing, and the supply of materials. The announcement of the contract did not specify a target localization share.
For the country’s next nuclear project, Kazakhstan is looking to cooperate with China National Nuclear Corporation (CNNC), China’s state-owned nuclear corporation. CNNC has been selected to lead development of Kazakhstan’s second nuclear power plant, while preparations for a third plant are also underway.
