TotalEnergies has signed an agreement on investment (AoI) with the government of Kazakhstan for the 1GW Mirny onshore wind farm in the country.
The Mirny project aims to install up to 160 turbines combined with a 600MWh battery energy storage system.
Mirny represents an investment of about US$1.4bn.
TotalEnergies said the project is a prime example of the oil and gas giant’s ability to leverage its position as a major partner in the upstream sector to speed up the development of renewable energy in countries using fossil fuels.
The AoI comes after the signature in June 2023 of a PPA for the Mirny project.
TotalEnergies will develop the Mirny project in partnership with the National Wealth Fund Samruk-Kazyna and the National Company KazMunayGas, which will each own a 20% stake in the project.
TotalEnergies chairman and chief executive Patrick Pouyanné said: “At COP28, more than 110 nations committed to tripling renewable energy capacity by 2030.
“TotalEnergies supports this call. With this innovative wind and battery project, our company is making a direct contribution to this ambition and to the energy transition in Kazakhstan.
“The signing of this Agreement on Investment will allow to launch the Mirny project, which will help TotalEnergies triple its power generation from 33TWh to more than 100TWh by 2030.”