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During the state visit of French President Francois Hollande to Kazakhstan, a memorandum of cooperation and understanding has been signed by Central Asian Electric Power Corporation (CAEPCO) and ALSTOM. The latter will supply four power generating units that will be used to upgrade Kazakhstan's power sector, Tengrinews correspondent reports. The deal is likely to exceed 300 million euros.
During the state visit of French President Francois Hollande to Kazakhstan, a memorandum of cooperation and understanding has been signed by Central Asian Electric Power Corporation (CAEPCO) and ALSTOM. The latter will supply four power generating units that will be used to upgrade Kazakhstan's power sector, Tengrinews correspondent reports. The deal is likely to exceed 300 million euros.
CAEPCO is a vertically integrated Kazakhstani energy company founded in 2008 with a total installed power generating capacity of 974 MWt, which makes the company a leader among private power generating companies in Kazakhstan. It provides electricity to more than two million people. The company’s shareholders are Central Asian Power-Energy Company JSC and international development institutions - European Bank for Reconstruction and Development and Islamic Infrastructure Fund.
ALSTOM is a French multinational company operating in power generation and rail transport. The company’s website says that about 25% of the world's power production capacity relies on Alstom technology and services. In addition, their “clean technologies generate electricity equivalent to the needs of around 1.2 billion homes”. Between 1 April 2013 and 31 March 2014, ALSTOM secured €21.5 billion worth of orders. It employs 93,000 people worldwide.
Chairman of CAEPCO Board of Directors Alexander Klebanov and Vice President of ALSTOM Philippe Romieu signed the memorandum.
"We have agreed on the supply of ALSTOM equipment to build new and modernise the existing generating assets, for projects in the field of electric power generation,” Klebanov said.
“ALSTOM technologies will be used in the development of concepts and feasibility studies, as well as for environmental protection. CAEPCO intends to apply the latest technologies at their existing facilities, and use them for implementation of promising projects in the future," he said.
Klebanov stressed that Kazakhstan created favorable conditions for the development of cooperation with major international companies.
By Dinara Urazova
