Samruk-Kazyna reveals it no longer controls the future owner of NPPs in Kazakhstan

Samruk-Kazyna, Kazakhstan’s national wealth fund, no longer owns Kazakhstan Nuclear Power Plants (KNPP) LLC, the company designated to become the operator and owner of all nuclear power plants (NPPs) in the country. This is indicated in the fund’s corporate documentation.

According to Kompra, ownership of KNPP was transferred to the State Property and Privatization Committee under the Ministry of Finance of the Republic of Kazakhstan on Dec. 30, 2025. As a result, Samruk-Kazyna is no longer the parent company of KNPP but instead holds the status of a sister company.

Initial reports that KNPP would be removed from Samruk-Kazyna’s control surfaced earlier this summer. At the time, it was suggested that the Atomic Energy Agency would assume ownership. Therefore, it cannot be ruled out that KNPP may change hands again in the near future.

Unlike Samruk-Kazyna and KNPP, the Atomic Energy Agency is not overseen by the Ministry of Finance or the government. The agency reports directly to Kazakhstan’s President Kassym-Jomart Tokayev.

Construction of Kazakhstan’s first 2.4-gigawatt nuclear power plant near Lake Balkhash began on Aug. 8, 2025. The project is estimated to cost between $14 billion and $15 billion and is being carried out by a consortium led by Russia’s Rosatom. The second and third nuclear power plants are expected to be built by China’s CNNC, although project details have not yet been disclosed and the timing and locations remain unclear.