Russia and Kazakhstan signed an agreement on Thursday to build Kazakhstan’s first nuclear power plant, a project valued at around $16.5 billion and partially financed through a major Russian export loan.
The agreement was signed during talks in Astana between Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev. The plant will be constructed near the village of Ulken on the shores of Lake Balkhash in southeastern Kazakhstan.
Russia’s President Vladimir Putin and Kazakhstan’s President Kassym-Jomart Tokayev exchange documents during a signing ceremony following their meeting in Astana, Kazakhstan May 28, 2026. REUTERS/Turar Kazangapov
Tokayev said the project would play an important role in the country’s energy future, while Putin said the plant would make a “significant contribution” to Kazakhstan’s economy and energy supply.
Kazakhstan, the world’s largest producer of uranium, has debated nuclear energy development for more than two decades. In 2024, voters backed the construction of a nuclear power plant in a national referendum, officially approving the Balkhash site for development.
Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev attend a meeting at the Palace of Independence in Astana, Kazakhstan May 28, 2026. Sputnik/Alexander Kazakov/Pool via REUTERS ATTENTION EDITORS – THIS IMAGE WAS PROVIDED BY A THIRD PARTY.
Russia’s state nuclear corporation Rosatom was selected to lead the project, beating competitors including China National Nuclear Corporation, France’s EDF and Korea Hydro & Nuclear Power.
According to Kazakhstan’s atomic energy agency, the plant will feature two VVER-1200 III+ reactors. The total estimated cost includes around $2 billion allocated for security and infrastructure.
Construction is expected to begin in 2027, with the first reactor scheduled to enter operation in early 2034.
Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev pose for a picture before a meeting at the Palace of Independence in Astana, Kazakhstan May 28, 2026. Sputnik/Alexander Kazakov/Pool via REUTERS ATTENTION EDITORS – THIS IMAGE WAS PROVIDED BY A THIRD PARTY.
Kazakhstan’s decision to pursue nuclear energy carries historical sensitivity. During the Soviet era, the country hosted hundreds of nuclear weapons tests, leaving long-term environmental damage and health problems that contributed to widespread public distrust of nuclear technology.
Kazakhstan’s President Kassym-Jomart Tokayev welcomes Russia’s President Vladimir Putin during a ceremony at an airport in Astana, Kazakhstan, May 27, 2026. Sputnik/Pavel Byrkin/Pool via REUTERS ATTENTION EDITORS – THIS IMAGE WAS PROVIDED BY A THIRD PARTY.
Despite its substantial natural gas reserves, Kazakhstan continues to rely heavily on coal-fired power plants, alongside hydroelectric and renewable energy sources. Aging infrastructure and rising electricity demand have forced the country to import power, mainly from Russia.
Kazakhstan has also approved plans for a second nuclear power plant, with China National Nuclear Corporation selected as the lead constructor for that project.
