Transcript Document

“САМҰРЫҚ” МЕМЛЕКЕТТIК АКТИВТЕРДI БАСҚАРУ ЖӨНIНДЕГI ҚАЗАҚСТАНДЫҚ ХОЛДИНГI“ АҚ
JSC “KAZAKHSTAN HOLDING FOR MANAGEMENT OF STATE ASSETS “SAMRUK”
АО “КАЗАХСТАНСКИЙ ХОЛДИНГ ПО УПРАВЛЕНИЮ ГОСУДАРСТВЕННЫМИ АКТИВАМИ “САМРУК”
Construction of Balkhashskaya TPS
Investment Forum of Kazakhstan
2008, July
Seoul, Korea
Construction of Balkhashskaya TPS
Actuality
 Program for development of Unified energy system of the Republic of
Kazakhstan until 2010 with perspective to 2015.
approved by Ministry of energy and mineral resources of the Republic of
Kazakhstan (MEMR RK) 07.07.04, №150
 The Project is included to the List of breakthrough projects
approved by Protocol of the State commission on economy modernization
issues of the Republic of Kazakhstan №7 dated 04.06.07.
 Correction of forecasting balances of power energy and power
capacity within the regions, oblasts and territory of the Republic of
Kazakhstan
approved by MEMR RK 22.05.06, №160.
 Deficit of power energy in South region
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Construction of Balkhashskaya TPS
Balkhashskaya TPS
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Construction of Balkhashskaya TPS
Project costs
mlln.USD (currency 120,7KZT/1$)
Construction of the 1st module
2 411
Construction of the 2nd module
2 086
Other expenses, excluded from estimated costs,
comprising maintenance of direction and technical
personnel of the Balkhashskaya TPS
Total capital costs
203
4 700
Scheme of financing:
Share capital – 30% from the total volume of
investments
1 410
Loan capital – 70% from the total volume of
investments
3 290
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Construction of Balkhashskaya TPS
Key performance figures
№ Figures
Units of
measurement
Reach of
rated
capacity
1
Total cost of construction (at the prices of 20082013), total including VAT
mln. USD
4 497
2
Specific capital investments including VAT
USD/kWt
1 704
3
Average unit prime cost of product for project
exploitation period (with discounting)
USD/KWth
0,046
4
Net profit (mid-annual for billing period )
mlln. USD
434,357
5
Net present Value (NPV) for billing period (rate
10%)
mlln. USD
75,542
6
Simple capital investments payback period
years
9
7
Discount payback period
years
28
8
Internal rate of Return (IRR)
%
10,27
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Construction of Balkhashskaya TPS
Key performance figures
№ Figures
Units of
measurement
Reach of
rated
capacity
1
Established electric power output
МWt
2 640
2
Annual electric power production
mln.kWth
17 160
3
Annual electric power supply
mln.kWth
15 444
4
Annual reference fuel consumption
thousand tons of
r.f.
4 942
5
Annual natural fuel consumption
- coal
- fuel oil
thousand tons
thousand tons
8 649
36
Gramm/kWth
320
6
Specific reference fuel consumption for electric
power supply
7
Total number of employees
person
800
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Construction period
month
102
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Construction of Balkhashskaya TPS
Kazakhstan South region
The South region of the Republic of Kazakhstan includes Almatinskaya,
Zhambylskaya, Kyzylordinskaya, Yujno-Kazakhstanskaya and the largest city of the
country – Almaty city.
Power energy balance in the South region for 2000-2006.
3000
2500
2643
2596
2375
2232
МWt
2000
2201
2056
1815
1694
1629
1500
1409
1000
1200
500
1093
1178
963
1023
992 943
966
967
949
615
0
2000
2001
Maximum power demand (combined)
2002
2003
2004
Operating capacity (used in balance sheet)
2005
2006
Deficit
Existing deficit is covered by cross-flows from North of Kazakhstan and Central Asia
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Construction of Balkhashskaya TPS
Kazakhstan South region
Forecast of power energy consumption
35
30
32
blln. kWt/h
25
24,5
20
18,5
15
10
13,73
5
0
2005
2010
2015
2020
Year
Taking into account loading and depreciation of Zhambylskaya GRES (oil-fired) –
the main power generator in the region, there is a need in
Construction of power station, which can cover the increasing demand of
electricity in the region.
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Construction of Balkhashskaya TPS
Key figures of the TPS
 TPS capacity
Determined electric capacity of the station is 2 640 WВт;
Annual power production is 17 160 mlln. kWt·h;
Assembly – modular – installation of 2 modules per 2 power blocks;
Energy block capacity – 660 МВт.
 Construction period
1st module 2 х 660 MWт (1320 MWт) – 2008 - 2013 (66 months);
2nd module 2 х 660 МWт (1320 МWт) – 2011 - 2016 (72 months).
 Fuel
The coal of Ekibastuz Coal Basin according to the “Conceptions for fuel complex
development of the Republic of Kazakhstan”
Consumption:
after running the 1st module – 4 324 000 tons/year;
after running the 2nd module – 8 648 000 tons/year.
 Feasibility study
Elaborated by “KazNIPIEnergoprom” Institute, LLP and approved by
corresponding government bodies.
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Construction of Balkhashskaya TPS
Location of the Project realization
 Republic of Kazakhstan;
 South-west of Balkhash lake shore on
the border of Almatinskaya and
Zhambylskaya oblasts;
 Earlier specified and partly completed
construction site of YujnoKazakhstanskaya GRES (YuK GRES).
Reasons of choice:
 The central part of electric power transit “North-South” of Kazakhstan – are power lines with voltage




500÷220kV. Creation of power output in this region will significantly increase the capacity of existing and
under construction high voltage lines;
Enhancement of the reliability of power supply in south of Kazakhstan during the construction of
Balkhashskaya TPS;
Prevention of unacceptable growth in prices for power energy in South region of Kazakhstan (cheap coal
instead of expensive oil fuel and gas)
Availability of large water source – Balkhash lake allows to organize a process of water supply for TPS.
Within the project implementation for construction the Yujno-Kazakhstanskaya GRES on the estimated
site a range of preparatory works have been implemented.
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Construction of Balkhashskaya TPS
Realization of the Project
SPV shall be created as Balkhashskaya TPS, JSC, which will perform as
project company with following functions:
 Attraction and organization of financing the Project;
 Project administration;
 Conclusion of EPC contract (Engineering, Procurement and

Construction Contract – «turn-key» contract);
Exploitation and assets operation, built up as a result of Project
realization.
Conclusion of contracts with KEGOC, JSC – the national (100% state
owned) electric grid operator of RK and other consumers to supply
electric power.
Possible involvement of state guarantee in the project realization as a
security for attracted loans.
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Construction of Balkhashskaya TPS
Financial structure
Samruk-Energo, JSC
Strategic or portfolio
Investors
75%
25%
from share capital of
BTPS, JSC
Lenders
from share capital of
BTPS, JSC
Loan proceeds
Share capital
Balkhashskaya TPS, JSC
70% from Project cost
[3 290 mlln. USD]
30% from Project cost
guarantee
cash flows from the Project
[1 410 mlln USD]
PROJECT
ЕРС contract
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Construction of Balkhashskaya TPS
Financial structure
 In order to realization a capital intensive Project from
power energy sector a long term financing is required,
when capital investments generate stable and
predictable cash flows.
 Project financing increases investment profit in virtue of
high financial instrument, it allows to attract strategic
investors.
 Existence of sound possibilities to use a mechanism of
public-private partnership.
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Construction of Balkhashskaya TPS
Financing traffic pattern
INVESTORS
Profits
Equity
capital
Loan
capital
FINANCING
LENDERS
Debt
return
Balkhashskaya
TPS, JSC
Power
consumers
ЕРС contract
Power
consumers
Balkhashskaya TPS
Contracts for electric power purchase
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Construction of Balkhashskaya TPS
Effects from the project realization
Construction of Balkhashskaya TPS:
 will insure the coverage of future burdens in the region,
 will increase reliability of electric power supply,
 will create a necessary reserve of power energy,
 will allow to realize the export potential of the Republic of
Kazakhstan.
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Holding Samruk, JSC
tel: +7 7172 976 551
fax: +7 7172 790 400
www.samruk.gov.kz
Samruk Invest LLP
tel: +7 7172 790 851
fax: +7 7172 790 851
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