Kazakhstan estimates the capital cost for constructing its upcoming nuclear power plant to be between $10 billion and $15 billion, according to Timur Zhantikin, General Director of Kazakhstan Nuclear Power Plants. Following a government meeting, Zhantikin noted that while the exact cost is still undetermined due to the project being in the planning stages, preliminary overnight cost data has informed financial and economic models that suggest this range.
Zhantikin emphasized that the project will be funded through commercial means, without relying on national budgetary funds. “We are not considering budgetary financing; the project is structured commercially, which typically incurs additional costs,” he stated. He also referenced a similar project in Belarus, where a nuclear power plant was constructed under an intergovernmental agreement with Russia and financed for $10 billion, though the actual cost was $7 billion.
Kazakhstan’s Energy Minister, Almasadam Satkaliyev, added that electricity produced by the Turan nuclear power plant is expected to be more cost-effective than the country’s current peak-hour energy purchases. He further projected a significant reduction in coal’s share of the nation’s energy mix, from 70% today to less than 30% by 2035.
The nuclear power plant is expected to be completed within 8-10 years, marking a significant step in Kazakhstan’s evolving energy landscape.
