The delegation of Samruk-Kazyna JSC took part in the 28th UN Climate Change Conference (COP28) taking place in Dubai from November 30 to December 12. Within the framework of the conference, a number of business negotiations were held, and important agreements were concluded with international partners concerning the development of “green energy” and the introduction of new digital technologies in Kazakhstan.

Thus, on the sidelines of COP28, Nurlan Zhakupov, the head of the Fund, met with Sama Bilbao y León, the Director General of the World Nuclear Association (WNA). During the meeting, the parties discussed topical issues in the nuclear industry, including application of common knowledge and resources for the transition to cleaner and sustainable energy solutions.

The Fund aims to reduce emissions by 10% by 2032 compared to 2021 and one of the Fund’s areas of work according to the Low Carbon Development Concept, diversifying the energy mix by introducing alternative energy sources.

Therefore, reaching agreements with one of the leading companies in the field of renewable energy - ACWA Power had great significance for “Samruk-Kazyna” JSC. Nurlan Zhakupov held a meeting with Mohammad Abunayyan, the founder and Chairman of the Board of Directors of ACWA Power, to discuss the implementation of a joint project to build a 1 GW wind farm in Zhetisu region. The station will be installed with innovative power storage system. Commissioning is planned for 2028-2029.

To date the development of a power delivery scheme and the work on wind measurement has begun, the Regional Akimat has issued a resolution on the allocation of land for exploration.

The intention to cooperate was confirmed by the relevant Climate Conference Agreement.

In addition, “Samruk-Kazyna” JSC concluded a Memorandum on the development of low-carbon energy with a total capacity of 10 GW on the territory of Kazakhstan in cooperation with the Ministry of Energy and the Ministry of Investment of the United Arab Emirates.

Implementation of digital projects is another focus of the Fund’s attention in addition to the development of “green energy”. For this purpose, Nurlan Zhakupov met with Thomas Pramotedham, the Chief Executive Officer of Presight.

Presight is a public company, part of G42, a global leader in the field of artificial intelligence. Presight is currently leading the way in AI-based big data analysis.

At the meeting, the parties discussed issues of implementing projects in the field of digitalization and information technology in the Fund’s portfolio companies.

Negotiations resulted in signing of an Agreement between Samruk-Kazyna and Presight on the creation of a joint venture that will allow the implementation of high-quality digital projects.

Thus, it is planned to implement a pilot project with JSC NC QazaqGaz to increase the transparency of gas accounting in Astana, Shymkent and on the Saryarka highway. Based on the results, the possibility of scaling solutions for main gas pipelines and gas distribution networks throughout the Republic of Kazakhstan will be considered.

The second pilot project is planned to be implemented jointly with KTZ-Express JSC. Its goal is to conduct a comprehensive analysis and identify the needs for the implementation of digital solutions to improve the efficiency of services in the transport and logistics sector.

Both QazaqGaz and KTZ-Express signed the necessary documents with Presight as well.

In the frames of COP28, several agreements were signed between other portfolio companies of the Fund and large Arab holdings: aMemorandum of Understanding on the creation of a ship repair and shipbuilding enterprise in Kazakhstan was concluded between JSC NC KazMunayGas and AD Ports Group, an Agreement on the creation of a joint venture between JSC NC Kazakhstan Temir Zholy and Abu Dhabi Ports Group.

Moreover, JSC NAC Kazatomprom entered into an Agreement with Emirates Nuclear Energy Corporation for the supply of natural uranium concentrates.