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Kazatomprom selling noncore solar power assets


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Kazatomprom selling noncore solar power assets

Kazakhstan's state-owned JSC National Atomic Co. Kazatomprom said May 20 that it agreed to sell 75% of its KazPV project to a consortium of investors

KazPV includes Astana Solar LLP, LLP Kazakhstan Solar Silicon, and KazSilicon MC LLP.

The consortium includes Yadran Solar of Russia, France-based ECM Greentech SA, China's Kasen, and Canadian Solar Inc. It will also buy the remaining 25% of KazPV in three years, according to a news release.

Like Kazatomprom's IPO in November 2018, the sale is part of the second phase of Kazakhstan's ongoing privatization program for 2016 to 2020. The Central Asian republic's sovereign wealth fund, Samruk-Kazyna JSC, plans to divest 200 assets over the period.

Kazatomprom did not disclose the consideration of the sale.

Kazakhstan Solar Silicon produces photovoltaic cells, Astana Solar makes photovoltaic modules, and KazSilicon produces silicon from gangue quartz. The consortium plans to use the companies to make solar cells for projects in Kazakhstan and neighboring countries.