ASTANA, Kazakhstan, February 28. Qazaq Green Power PLC, 100 percent of whose shares are owned by Samruk-Energy JSC, is expanding by acquiring major hydro assets to develop green energy, Trend reports.
In line with corporate decisions, Samruk-Energy JSC has transferred the assets of LLP "Ust-Kamenogorsk Hydro Power Plant" and LLP "Shulbinsk Hydro Power Plant" to the public company "Qazaq Green Power PLC" to consolidate renewable energy and hydroelectric power plant assets in a separate legal entity specializing in the development of green energy.
This transfer was made by increasing the authorized capital of Qazaq Green Power PLC through the issuance of shares to its sole shareholder, Samruk-Energy JSC. In exchange for the issued shares, 100 percent of the stakes in LLP "Ust-Kamenogorsk Hydro Power Plant" and LLP "Shulbinsk Hydro Power Plant" were transferred to Qazaq Green Power PLC.
It is important to note that as a result of this asset transfer, Samruk-Energy JSC continues to hold stakes in LLP "Ust-Kamenogorsk Hydro Power Plant" and LLP "Shulbinsk Hydro Power Plant" through its 100 percent subsidiary Qazaq Green Power PLC.
On this account, Samruk-Energy JSC and Qazaq Green Power PLC intend to continue expanding their portfolio of green assets, investing in projects that will contribute to the diversification of the country's energy structure and support Kazakhstan's strategic goals for sustainable development and achieving climate targets.