ALMATY – TotalEnergies, a global integrated energy company, 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 to date.
Photo credit: Ministry of Energy
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, reported 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 Kazakhstan’s Samruk Energy and KazMunayGas each hold 20%.
International financing secured
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 (EBRD), Proparco, Development Bank of Kazakhstan, DEG, Société Générale, QNB Group, China Construction Bank, and Standard Chartered.
Speaking to The Astana Times, Hüseyin Özhan, managing director for Central Asia and Mongolia at the EBRD, said the bank is providing an A/B loan of up to $548 million to Aktas Energy to support construction and commissioning.
Boosting Kazakhstan’s energy transition
The project aligns with Kazakhstan’s goal of increasing the share of renewable energy in electricity generation to 15% by 2030.
“We are delighted to launch one of Kazakhstan’s largest renewable energy initiatives. We look forward to advancing construction of the Mirny project alongside our partners and in cooperation with the Kazakh authorities,” said Olivier Jouny, senior vice president for renewables at TotalEnergies.
The initiative also forms part of TotalEnergies’ broader regional strategy, including a 9 GW renewable portfolio developed in partnership with Masdar across Asia.
