Russia, Kazakhstan Sign $14.4 Billion Deal for 2 VVER-1200 Reactors
Updated
Updated · World Nuclear News · May 29
Russia, Kazakhstan Sign $14.4 Billion Deal for 2 VVER-1200 Reactors
15 articles · Updated · World Nuclear News · May 29
Two intergovernmental agreements signed after Putin-Tokayev talks set terms for building Kazakhstan's Balkhash nuclear plant and for a Russian state export loan to finance it.
Rosatom said the project covers two Russian-designed VVER-1200 units, plus long-term maintenance and fuel supply, alongside a 2026-2030 nuclear and radiation safety cooperation plan.
Kazinform reported the two units are preliminarily priced at about $14.4 billion, with another $2 billion for security systems and social infrastructure; officials said the export loan offers very favorable terms.
Construction is targeted to start in 2027, with the first unit due online in 2034, advancing Kazakhstan's first commercial nuclear plant after Rosatom was chosen in 2025 to lead the project.
The deal deepens Kazakhstan's push to diversify away from fossil fuels after a 2024 referendum backed nuclear power by more than 70%, with the government targeting a 5% nuclear share by 2035.
Is Kazakhstan's Russian-funded nuclear plant a path to energy security or a trap of geopolitical dependence?
As Russia builds Kazakhstan's first nuclear plant, why is China already lined up to build the next two?
From Uranium Exporter to Nuclear Powerhouse: Kazakhstan’s Strategic Shift and the $15 Billion Rosatom Deal
Overview
Kazakhstan, after decades of considering atomic power, has taken a major step by holding a national referendum in October 2024 that gave public approval for its first nuclear power plant. Russia’s Rosatom was chosen to lead the project, reflecting Kazakhstan’s strategic vision to modernize its energy sector and ensure energy security. President Tokayev stressed the need for careful analysis and international cooperation, aiming to involve partners with advanced technologies. While the government’s detailed plans and financing were not yet public, this move marks a significant shift toward diversifying Kazakhstan’s energy sources and strengthening its regional influence.