Company linked to ex-National Bank head to build $730M wind power plant in Kazakhstan

Turan Wind Energy, whose co-owners previously included former National Bank of Kazakhstan chairman Oraz Zhandosov, will build a 1 GW wind power plant in Kostanay region. The project, including an energy storage system, will cost $730 million. The company signed the investment agreement with the Ministry of Energy of the Republic of Kazakhstan.

According to the government, the agreement was concluded within the IX Kazakhstan Round Table on Global Investments (KGIR-2026) held in Shymkent with the participation of Prime Minister Olzhas Bektenov. A total of 22 documents worth $4.8 billion were signed at the forum. The Turan Wind Energy project accounts for about 15% of that sum.

In April 2025, Turan Wind Energy won an auction to build a 1 GW wind plant in the northern zone of Kazakhstan's Unified Power System. The starting price was 22.68 tenge per kWh excluding VAT, and the company bid 18.72 tenge. Kursiv reported that the company's ownership structure as of October 2026 could not be established, and it is unknown whether Zhandosov still holds a stake.