On 30 December 2021, in accordance with the decision of the Board of Directors of KEGOC dated 24 September 2021, 100% of shareholding of Financial Settlement Centre for Renewable Energy Sources Support LLP (FSC RES LLP), owned by KEGOC, was transferred free of charge to state ownership. This share, on the basis of a gift agreement, was transferred to the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan.

Thus, the FSC RES LLP was transferred into the ownership of the state free of charge.

FOR REFERENCE:

FSC RES LLP was established by the System Operator (KEGOC JSC) in accordance with the Law of the Republic of Kazakhstan No. 165-IV dated 4 July 2009 “On Supporting the Use of Renewable Energy Sources”.

According to the Charter, the operations of Financial Settlement Centre for Renewable Energy Sources Support include:

- sell electricity to consumers (centralised procurement and sale of electricity produced by renewable energy facilities and delivered to the electric networks of Kazakhstan unified power system);

- maintain readiness of electric capacity to bear the load;

- provide financial settlement of electricity imbalances.

KEGOC