TotalEnergies Approves $1.2 Billion Wind and Storage Project
TotalEnergies has taken a final investment decision on a $1.2 billion wind and battery energy storage project in Kazakhstan, marking one of the country’s largest renewable energy initiatives.
The Mirny project, located in the Zhambyl Region, will combine 1 gigawatt (GW) of wind capacity with a 600 megawatt-hour (MWh) battery energy storage system (BESS), with full capacity expected by 2029, according to the company’s press service on April 24. The project is expected to generate around 100 terawatt-hours (TWh) of renewable electricity over 25 years, supplying power to approximately one million people. Electricity produced at the site will be sold to the government under a 25-year power purchase agreement signed in 2023.
The development includes around 150 wind turbines and a battery storage system supplied by Saft, a wholly owned subsidiary of TotalEnergies, to improve grid stability and reliability. According to the agreement, TotalEnergies holds a 60% stake in the project, while Samruk Energy and KazMunayGas each hold 20%.
The company and its partners have secured financing from an international lending consortium and signed a Common Terms Agreement to support the project. The consortium includes the European Bank for Reconstruction and Development, Proparco, Development Bank of Kazakhstan, DEG, Société Générale, QNB Group, China Construction Bank, and Standard Chartered.
According to the European Bank for Reconstruction and Development, the bank is providing an A/B loan of up to $548 million to Aktas Energy to support construction and commissioning. The project aligns with Kazakhstan’s goal of increasing the share of renewable energy in electricity generation to 15% by 2030.
Photo credit: Ministry of Energy
