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Previous Project

Project_Karaganda_GRES_2

Karaganda GRES 2, Kazakhstan

  • Type: Coal-fired plant
  • Size: 608 MW
  • Start date: October 1996
  • Status: Sold 1998

In October 1996, through a 75% owned subsidiary, IPC entered into a joint venture with Samsung Deutschland A.G. (“Samsung”) to acquire Karaganda GRES 2 (“K2”), a 608 MW coal-fired plant located in Karaganda, Kazakhstan.

Having acquired the plant, IPC set about improving operating performance and the efficiency of the staff. Previously loss-making, it was returned to profit within a six month period through the judicious use of credit-worthy PPAs denominated in US dollars.