Samruk-Energy

What Samruk-Energy does

Samruk-Energy JSC is Kazakhstan's national multi-sector electric power holding, wholly owned by the Samruk-Kazyna sovereign wealth fund. The company operates a vertically integrated portfolio spanning electricity generation (coal-fired thermal, hydroelectric, and wind), electricity transmission and distribution, heat energy generation, and thermal coal mining. It controls 33% of Kazakhstan's electricity generation market, 39% of national coal production, and 30% of the unified power system's installed capacity, with 7.345 GW of installed capacity serving approximately 19 million consumers through wholly-owned subsidiaries including Almaty Power Stations, Ekibastuz GRES-1 and GRES-2, Bogatyr Komir, Alatau Zharyk Company, KEGOC, and multiple hydroelectric plants (Moynak, Shardara, Shulbinsk, Ust-Kamenogorsk HPPs), plus wind assets (Ereymentau Wind Power, First Wind Power Plant, Qazaq Green Power PLC).

The company's revenue model is anchored on government-regulated electricity and heat tariffs and long-term power purchase agreements, including a 25-year PPA with the Kazakh government for the Mirny wind project. It executes large-scale state energy infrastructure projects co-financed by international lending consortia (EBRD, Proparco, Société Générale, Standard Chartered, China Construction Bank), and supplies approximately 9.9 million tons of coal per quarter to domestic power plants plus 2.5 million tons in exports. The group employs 17,892 people and holds total assets of 1,823,896 million tenge. As a strategic instrument of state energy policy, Samruk-Energy is the principal vehicle for Kazakhstan's energy security, capacity expansion, and the transition toward renewables.

Technology deployment centers on thermal, hydro, and wind power generation. Distinctive operational technology includes an AI-powered video analytics safety system with 1,200+ cameras, Antison driver drowsiness detection on 60 dump trucks, AI-enabled smart helmets for PPE compliance, real-time automated emissions monitoring transmitting every 20 minutes to the national environmental database, and a climate risk management framework aligned with TCFD and IFRS S2. The company holds five ISO certifications (9001, 14001, 45001, 50001, 37001) and is a UN Global Compact signatory. Capital investment is concentrated in the $1.2 billion Mirny wind and BESS project, the $3.27 billion Kazakh-Singaporean CHP program across Semey, Ust-Kamenogorsk, and Kokshetau, and the planned first pumped-storage hydroelectric plant in Kazakhstan.

Name

Samruk-Energy

Legal name

Samruk-Energy JSC

Website

https://samruk-energy.kz

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Samruk-Energy JSC is Kazakhstan's state-owned multi-sector energy holding, wholly owned by the Samruk-Kazyna sovereign wealth fund, operating coal-fired, hydroelectric, and wind power generation, transmission, distribution, and coal mining across 19 million consumers with 33% market share.

Ownership category

akta.pro rank

Product category

Electric Utilities / Power Generation

NAICS

Electric Power Generation, Transmission and Distribution (2211), Fossil Fuel Electric Power Generation (221112), Hydroelectric Power Generation (221111), Wind Electric Power Generation (221115)

SIC

Cogeneration Services & Small Power Producers (4991), Electric Services (4911)

akta.pro primary industry

Utility-Scale Renewable O&M (Solar, Wind, Hydro, Geothermal) (EUAMAGAA)

akta.pro secondary industries

Biomass CHP & Cogeneration Plants (Industrial & Utility) (EUAAAGAA), Distributed & Commercial Renewable O&M (Rooftop Solar, C&I Wind, Small Hydro) (EUAMAGAB)

Keywords

• Electricity generation services
• Thermal power generation
• Hydroelectric power generation
• Coal mining production
• Electricity transmission distribution

Headquarters

HQ city

Astana

HQ country

Kazakhstan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D

Revenue model

1. Electricity Generation and Sales: Generation and sale of electricity from coal-fired power plants, hydroelectric plants, and wind power plants to the grid under regulated tariffs and long-term PPAs.
2. Heat Energy Generation and Sales: Generation and distribution of heat energy (thermal energy) for district heating.
3. Electricity Transmission and Distribution: Transmission and distribution of electricity through grid infrastructure (Alatau Zharyk Company), providing electricity to approximately 19 million consumers.
4. Coal Mining and Sales: Coal production through Bogatyr Komir LLP and sales to power plants and industrial consumers.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Samruk-Energy JSC is a vertically integrated state-owned electric power holding that generates, transmits, and distributes electricity and heat energy across Kazakhstan. It operates coal-fired thermal plants, hydroelectric stations, and wind farms with a total installed capacity of 7.345 GW, and mines thermal coal through its Bogatyr Komir subsidiary, serving approximately 19 million consumers under regulated tariffs and long-term power purchase agreements.

Product overview

Samruk-Energy JSC is a diversified Kazakh energy holding company operating a portfolio of power generation, transmission, and coal mining subsidiaries. The company generates electricity through coal-fired thermal power plants (Ekibastuz GRES-1, Ekibastuz GRES-2, Almaty CHPs), hydroelectric plants (Shulbinsk HPP, Ust-Kamenogorsk HPP, Moynak HPP, Shardara HPP), and wind farms (Ereymentau Wind Power). It distributes electricity through Alatau Zharyk Company and mines coal through Bogatyr Komir. The group also includes renewable energy developer Qazaq Green Power PLC. The company is transitioning toward clean energy while maintaining its role in Kazakhstan's energy security.

Differentiator

Problem solved

Functional benefit

Products and services

• Electricity Generation and Sales Generation of electricity from coal-fired thermal plants (Ekibastuz GRES-1, GRES-2, Almaty CHPs), hydroelectric plants (Shulbinsk, Ust-Kamenogorsk, Moynak, Shardara HPPs), and wind farms (Ereymentau), sold to the national grid under regulated tariffs and long-term PPAs. 2025 production reached 40,436.3 million kWh, a 20-year high.
• Heat Energy Generation and Distribution Generation and supply of heat energy to district heating networks in Almaty and Ekibastuz regions for residential, commercial, and industrial consumers.
• Electricity Transmission and Distribution Transmission and distribution of electricity through Alatau Zharyk Company to approximately 19 million consumers across Kazakhstan via the unified power system grid.
• Coal Mining and Sales Open-pit thermal coal mining and sales through Bogatyr Komir LLP to power plants including own facilities and third-party generators. 2025 production reached 45.3 million tons (a 6% year-on-year increase); Q1 2025 sales included 9.9 million tons domestic and 2.5 million tons exported.
• Onshore Wind and Battery Energy Storage Project (Mirny) 1 GW onshore wind farm with 600 MWh battery energy storage in southeastern Kazakhstan under a 25-year Power Purchase Agreement with the Government of Kazakhstan; expected to generate approximately 100 TWh of renewable electricity over 25 years. Samruk-Energy holds a 20% stake alongside TotalEnergies (60%) and KazMunayGas (20%), with the project approximately 75% externally financed.

Quantifiable outcome

• 2025 electricity production reached 40,436.3 million kWh, a historical 20-year high
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered flagship, core and minor.

• TotalEnergiesflagshipStrategic or Co-development Partner · 24 April 2026TotalEnergies holds 60% stake in the $1.2 billion Mirny onshore wind and Battery Energy Storage System project (1 GW wind farm with 600 MWh battery storage). Samruk Energy holds 20% alongside KazMunayGas (20%). Project expected to reach full capacity by 2029, generating 100 TWh of renewable electricity over 25 years.
• KazMunayGascoreStrategic or Co-development Partner · 24 April 2026Kazakh state-owned oil and gas company holding 20% stake in the Mirny wind project alongside Samruk Energy (20%) and TotalEnergies (60%).
• MasdarcoreStrategic or Co-development Partner · 24 April 2026Emirati renewable energy company in 50/50 Asian renewables partnership with TotalEnergies. Jointly developing 9 GW of renewables across nine Asian countries. Project co-financed through this partnership.
• Kazakh-Singaporean ConsortiumflagshipStrategic or Co-development Partner · 1 January 2026Consortium for construction of Semey and Ust-Kamenogorsk combined heat and power plants ($3.27 billion total, three plants by end of 2029). Kokshetau plant will be built independently by Kazakhstan. Uses modern Chinese technology including clean coal and AI.
• UNDP Kazakhstan (United Nations Development Programme)minorStrategic or Co-development Partner · 1 January 2025Partnership with Moynak HPP JSC for preservation of relict ash forest along the Charyn River as biodiversity conservation initiative.
• Kazakhstan Electricity AssociationminorOthersIndustry association membership for electricity sector collaboration and standards development.
• Kazenergy (Kazakhstan Association of Oil Gas And Energy Sector Organizations)minorOthersIndustry association membership for oil, gas, and energy sector collaboration.

Scale indicators9 records

Recent moves8 records

Expansion highlights7 records

Regional players

• KazMunayGas: Kazakhstan's national oil and gas company and 20% partner in the Mirny wind project. Comparable as a sister sovereign-wealth-fund portfolio company operating critical Kazakh energy infrastructure under the same government strategic priorities as Samruk-Energy.
• KEGOC (Kazakhstan Electricity Grid Operating Company): Kazakhstan's national grid operator and a Samruk-Energy subsidiary, managing high-voltage transmission across Kazakhstan. Comparable as a sister entity operating regulated, government-linked electricity infrastructure within the same national power system.

Direct peers

• NTPC Limited: India's largest state-owned power producer with a diversified coal, hydro, solar, and wind portfolio under long-term PPAs. Highly comparable to Samruk-Energy given similar emerging-market utility mandate, coal-heavy legacy, and aggressive renewable capacity addition.
• Eskom Holdings: South African state-owned integrated utility dominated by coal generation and undergoing a renewables-driven transition. Comparable to Samruk-Energy as a large, state-controlled emerging-market utility facing similar legacy coal fleet, debt restructuring, and clean-energy transition pressures.
• Inter RAO: Russian state-controlled diversified energy holding exporting electricity and operating generation across multiple technologies. Directly comparable to Samruk-Energy as a sovereign-backed regional energy holding with generation, trading, and cross-border power flows in the post-Soviet/CIS space.
• KEPCO (Korea Electric Power Corporation): State-owned integrated Korean utility with generation, transmission, and distribution across nuclear, coal, gas, and renewables. Comparable to Samruk-Energy as a vertically integrated, state-mandated utility serving a national economy and pursuing a parallel coal-to-clean transition.
• RusHydro: Russian state-owned hydropower generator with growing renewables portfolio and regulated offtake. Comparable to Samruk-Energy's Moynak, Shulbinsk, Ust-Kamenogorsk, and Shardara HPP operations and similar position as a state-mandated clean power generator in a CIS market.

Broad incumbents

• EDF (Électricité de France): Major French state-controlled integrated utility with nuclear, hydro, and renewables generation plus regulated supply. Comparable to Samruk-Energy at a much larger scale as a state-mandated utility pursuing decarbonization while operating legacy baseload assets under regulated tariffs.
• Enel SpA: Large global integrated utility with significant renewables and conventional generation across multiple geographies. Comparable to Samruk-Energy as a diversified utility operator executing a multi-technology transition, though operating at much greater scale and geographic diversification.
• Iberdrola: Global renewables-led integrated utility with significant wind and hydro operations. Comparable to Samruk-Energy's growing wind and hydro footprint, though Iberdrola operates as a private-market incumbent at vastly larger scale across multiple geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SamrukEnergy
• Facebookfacebook.com/samrukenergy
• LinkedInlinkedin.com/company/samruk-energy-jsc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Samruk-Energy