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TotalEnergies has announced an investment of USD 1.2 billion in an onshore wind and battery energy storage project in Kazakhstan. The project, named Mirny, will combine 1 GW of wind capacity with 600 MWh of storage and is designed to supply electricity to around 1 million people. It is planned to reach full capacity by 2029 and will operate under a long-term agreement to sell power to the government. A large part of the funding is being arranged through an international banking consortium, supporting Kazakhstan’s renewable energy targets.
TotalEnergies has confirmed its participation in a Kazakhstan-based renewable energy project with a total investment of USD 1.2 billion, focused on onshore wind generation and battery storage. The project, known as Mirny, is structured to include 1 GW of wind power capacity along with 600 MWh of battery storage. Advertisement
The company has stated that the electricity generated will be supplied to the Kazakh government under a long-term 25-year power purchase agreement that was signed in a previous arrangement. The project is expected to become fully operational by 2029 and is designed to provide electricity for nearly 1 million residents.
The development aligns with Kazakhstan’s broader energy transition plans, which aim to increase the share of renewable energy in the national electricity mix to 15% by 2030. A senior executive at TotalEnergies noted that the project supports these long-term national targets while expanding the company’s renewable footprint.
About 75% of the project’s financing is being raised externally through a consortium of eight international banks and financial institutions, including the European Bank for Reconstruction and Development, Société Générale, and China Construction Bank.
TotalEnergies, together with partners Samruk Energy and KazMunayGas, holds a 60% stake in the project. The company has also expanded its renewable portfolio significantly in recent years, with its gross renewable generation capacity reaching more than 34 GW earlier this year, while continuing to pursue its long-term electricity production goals through the end of the decade.
Source Reuters
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