TotalEnergies has taken a final investment decision for the 1GW Mirny onshore wind and battery energy storage system project in southeast Kazakhstan.
The company said the project combines 1GW of wind capacity with a 600MWh battery system and will generate 100TWh of renewable electricity over 25 years.
TotalEnergies added that the electricity will be sold to the Government of Kazakhstan under a 25-year power purchase agreement signed in 2023.
The $1.2bn project will be around 75% externally financed and is expected to reach full capacity in 2029.
Mirny will comprise 150 turbines and a battery energy storage system supplied by TotalEnergies affiliate Saft to support grid stability.
TotalEnergies holds a 60% stake in the project alongside Samruk Energy and KazMunayGas, which each own 20%.
The partners have signed a Common Terms Agreement with a consortium of international lenders including EBRD, Proparco, DBK, DEG, Société Générale, QNB Group, China Construction Bank and Standard Chartered.
“We are delighted to launch one of Kazakhstan’s largest renewable energy initiatives to date, thereby contributing to the country’s target of increasing the share of renewables in electricity generation to 15% by 2030,” said Olivier Jouny, svp renewables at TotalEnergies.
“We look forward to advancing construction of the Mirny project alongside our partners and in cooperation with the Kazakhstani authorities”, he added.