Baiterek Venture Fund financed the construction of Verkhne-Talaptinskaya hydroelectric power plant

Baiterek Venture Fund (captive fund Qazaqstan Investment Corporation JSC, formerly Kazyna Capital Management JSC) financed the project for construction of Verkhne-Talaptinskaya hydroelectric power plant on Koksu River in Zhetysu region. Total cost of the project is 5.4 billion KZT. The installed capacity of the new HPP will be 7 MW. The project for construction of Verkhne-Talaptinskaya HPP on Koksu River is being implemented on the territory of Eskeldinsky and Koksu areas of Zhetysu region of the Republic of Kazakhstan. Use of hydropower resources of Koksu, Karatal, Tentek rivers and other rivers of the northern and southern slopes of Zhetysu Alatau mountains to generate electricity through the construction of hydroelectric power plants and to supply regulation power is a very topical issue for the region. Currently, Zhetysu region is deficient in electricity supply: about 30% of annual consumption is covered by its own sources, and the remaining 70% come from remote external sources, including thermal power plants of Northern Energy Zone. Launch of Verkhne-Talaptinskaya HPP will have a positive effect on the energy security of Zhetysu region and ecology of the region. Within the framework of the project, 18 new jobs will be created, the planned amount of tax payments to the budget will amount to 1 billion 579 million KZT. Environmental protection, development of "green" energy and issues of social responsibility are of great importance in making investment decisions for Qazaqstan Investment Corporation. Qazaqstan Investment Corporation, being the driver of development of private equity infrastructure in Kazakhstan, has designated "Assistance in the development of sustainable business based on internationally recognized environmental, social and management standards (ESG)" as one of its strategic objectives. Thus, in October 2022, Qazaqstan Investment Corporation joined the UN Principles of Responsible Investments Association, becoming the first quasi-public financial institution in the CIS to join the leading international network of institutional investors committed to the concept of implementing ESG standards in their investment activities. Qazaqstan Investment Corporation is constantly increasing its portfolio of "green" investments, thereby contributing to the fulfillment of the obligations of the Republic of Kazakhstan adopted under the Paris Climate Agreement, as well as to achieve carbon neutrality by 2060, announced by the President of the Republic of Kazakhstan at the UN Summit on Climate Ambitions in December 2020. The project for construction of Verkhne-Talaptinskaya hydroelectric power plant on Koksu river will become the 5th green project funded by the captive funds of Qazaqstan Investment Corporation. Today, Qazaqstan Investment Corporation has implemented 4 projects in the field of renewable energy sources with a total capacity of 200 MW. For reference: On December 28, 2022, the Sole Shareholder of Qazaqstan Investment Corporation JSC decided to change the name of Kazyna Capital Management JSC to Qazaqstan Investment Corporation JSC. Qazaqstan Investment Corporation JSC is a fund of direct investment funds established in 2007, whose main mission is to develop private equity infrastructure in Kazakhstan in order to promote sustainable economic development of Kazakhstan. It is a subsidiary of Baiterek NMH JSC. Additional information can be found on the website: qic.kz. Baiterek Venture Fund JSC is a direct investment fund established in 2014, provides financial support to domestic companies operating in priority sectors of the economy. It is a 100% subsidiary of Qazaqstan Investment Corporation JSC. Additional information can be found on the website: bvfund.kz