“Samruk-Energy” JSC | Integrated annual report
Main events of 2016

The following significant events and changes in business occurred in the Company’s operations in 2016

1 JANUARY

Putting an individual tariff for “Shardarinsk HPP” JSC into effect
Putting long-term tariffs for regional power transmission companies for 2016–2020 into effect (AZhC, EK REC and MDPGC)
Putting the tariff for “APP” JSC into effect as an ERM due to the increase in gas tariffs and transportation
Putting preferential tariffs for electricity at SDPP-1 into effect for an additional 7 entities at preferential tariffs (in accordance with the instruction of the Government and letters of the CRNM and PC of the MNE)

19 FEBRUARY

Standard & Poor’s affirms long-term and short-term credit ratings at ‘BB / B’ and a change in the outlook on ratings

26 FEBRUARY

Approval of the list of subsidiaries and affiliates of “Samruk-Energy” JSC proposed for transfer to a competitive environment
Placing of 10,964 (ten thousand nine hundred and sixty four) of “Samruk-Energy” JSC ordinary shares within the number of authorized shares through the exercise of the sole shareholder’s right to preemptive purchase of the share

11 MARCH

EnergyCell energy storage system (battery) was launched at the premises of Kapshagay solar power plant. This technology is used for the first time in the territory of the CIS and Central Asia

17 MARCH

Kazakhstan resumed electricity export to Russia. The second power unit of “Station Ekibastuz SDPP-2” JSC has been put into operation since March 17, 2016 and Kazakhstani electricity is supplied to the Russian power system

4 APRIL

In accordance with the Decision of the Board of Directors (Minutes No. 3 d/d March 30, 2016) on placement of 2 791 018 ordinary shares, “SamrukEnergy” JSC, taking advantage of the preemptive right, bought 1,096,448 ordinary stock at a price of 10,000 tenge per share thereby achieving parity in the ownership of BTPP shares to 50% – 1 share

8 APRIL

A presentation of the opening of the RDC (regional dispatch center) attended by Mangistau region mayor Aidarbayev A.S. was held at “Mangistau Distribution Power Grid Company” JSC.
The advanced power grids management complex will ensure the guaranteed and reliable operation of the energy system of the Mangistau region.

The project was implemented as part of “Mangistau DPGC” JSC Investment Program for 2013–2016. The Dispatch Center is equipped with the latest technical and software tools that allow the personnel to promptly respond to deviations in the operation of the power system in the shortest possible time. Modern technologies will significantly improve the quality of customer service and the reliability of the regional power system

16 APRIL

“Ekibastuz SDPP-1” LLP supplies electricity in the amount of 200 MW to “Power Plants” OJSC (Kyrgyz Republic)

5 MAY

The downgrade of “Samruk-Energy” JSC rating to BB + “Stable” outlook from Fitch Ratings (downgrade is due to a decrease in the sovereign rating of the Republic of Kazakhstan)

20 MAY

A new turbine unit was tested. The project implementation increased the installed capacity of the plant from 88 to 118 MW. And will provide additional generation of electricity in the amount of 240 million kWh per year. In addition to the construction of a new turbine unit No. 3, the company at its own investments installed a water purification and treatment system,
replaced the equipment of 2 units on transfer of in-house load of a power plant with a voltage of 3.15 kV to 6.3 kV, commissioned a new fan cooling tower and circulating pump house

28 JUNE

An application for purchase of 5,000 shares amounting to 6.7 bln. tenge was received from “Samruk-Kazyna” JSC for financing the Gorny Gigant project

30 JUNE

Sale of 90.0004% of equity stake in “Karagandagiproshakht and K” LLP and 70% of equity stake in “Shelek-28” LLP through electronic auction

21 SEPTEMBER

The ceremony of commissioning the boiler unit No. 8 within the framework of reconstruction and expansion of Almaty CHPP-2 was held. The launch of the new boiler will secure the growing needs of the city – the new facilities of the Universiade-2017, the industrial zone and buildings under the Program – “Affordable Housing-2020”. Commissioning of boiler No. 8 will increase the thermal capacity of CHPP- 2 by 20% from 1 176 to 1 414 Gcal / h and will ensure the production of an additional 450 million kWh of electricity per year

26 SEPTEMBER

Obtaining a letter of consent (waiver) from the EBRD for breaching the covenant Debt/EBITDA of the Company for 2016

24 NOVEMBER

Company’s corporate system of management confirmed to requirements of the international ISO 9001:2015 in the new edition

30 NOVEMBER

A large-scale project on upgrading 500kV outdoor switchgear was completed at Ekibastuz SDPP-1, which in terms of significance refers to the backbone substation of the unified energy system of Kazakhstan. Modernization will significantly increase the performance reliability of North Kazakhstan power grids through which electricity is transported to the south and exported to Russia. The service life of 500kV outdoor switchgear equipment will be extended by 30 years

9 DECEMBER

EUR 100 million Loan Agreement was signed with the EBRD as part of refinancing of the Company’s Eurobonds

21 DECEMBER

Standard & Poor’s rating agency downgraded the Company’s long-term credit rating at “BB-”, affirmed the short-term rating at “B” and changed the outlook from “Stable” to “Negative”

“Samruk-Energy” JSC | Integrated annual report
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