Samruq-Energy Sells Its Stake in Kazakhstan’s Second-Largest Hydropower Plant 

Samruq-Energy JSC no longer owns the Bukhtarma Hydroelectric Power Plant, Kazakhstan’s second-largest hydroelectric station, Orda.kz reports.

According to listings posted on the KASE website, the company ceased to hold shares in Bukhtarma HPP JSC as of September 26. A follow-up filing dated September 30 confirms that Samruq-Energy disposed of its 96.32% stake. The plant is also missing from the holding’s updated asset list.

The filings do not disclose who acquired the shares.

Orda.kz will send an official inquiry to Samruq-Energy to determine the buyer.

Bukhtarma HPP JSC was established in 1996 as the successor to Altayenergo JSC. Samruq-Energy has managed the state-owned stake since 2008. The most likely buyer is Kazzinc, which has operated the plant since 1997 under a concession agreement valid through the end of 2028. In February 2025, Samruq-Energy’s board agreed with Kazzinc on a major long-term lease of the plant's assets.

With a design capacity of 675 MW, the Bukhtarma Hydroelectric Power Plant is Kazakhstan’s second-largest. Its infrastructure also forms the Bukhtarma Reservoir, the country's biggest body of water created by a dam.

Original Author: Nikita Drobny