During 2020-2021, ADB mobilized staff consultant resources for undertaking initial hydrological studies across the 4 rivers in the Balkash, Alaqol and Irtysh/Zeysan basins of Kazakhstan. A total of 12 sites were identified based on raw data gauging station data provided in the three river basins; the sites were then further ranked based on high-level commercial assessment with estimated capital expenditure and levelized cost of energy (LCOE).

Based on the hydrological studies and ranking of sites, MOE and ADB have concluded that the proposed hydropower facility program (the Program) could be developed for a capacity of approximately 600 MW with individual design capacities potentially ranging from about 30MW to 140MW. The Program scope for the 12 identified potential sites includes design, finance, construction, operation and maintenance of multiple hydropower projects in the Balkash, Alaqol and Irtysh/Zeysan basins which shall be procured by way of auction in accordance with the applicable laws, rules and regulations of Kazakhstan (collectively the Program, and each hydropower project thereunder shall be a Project).

In January 2022, ADB commenced discussions with MOE to explore transaction advisory services (TAS) for the Program and thereafter a TAS Agreement was executed between ADB and MOE on 25 July 2024. The TAS scope includes technical and financial pre-feasibility assessment for each site, plus initial due diligence on technical, safeguards, commercial, and legal aspects of the Program structure. TAS also include assisting the client to market these projects to potential hydropower investors, support during the auction process, selection of the winning bidder, and signing of the PPA with the preferred bidder.