-- TotalEnergies (TTE) approved a $1.2 billion wind and battery project in Kazakhstan expected to generate 100 terawatt-hours over 25 years, it said Friday.
The Mirny project will supply renewable electricity to about 1 million people, with output sold under a 25-year power purchase agreement signed with Kazakhstan's government in 2023, TotalEnergies said.
The development includes a 1 gigawatt onshore wind farm with 150 turbines and a 600 megawatt-hour battery energy storage system to support reliable power delivery, the company said.
The storage system, supplied by TotalEnergies affiliate Saft, will strengthen grid stability and support Kazakhstan's expanding renewable energy capacity, according to the company.
TotalEnergies holds a 60% stake in the project, while Samruk Energy and KazMunayGas each own 20%, it said.
The company secured financing through a Common Terms Agreement signed with an international group of lenders supporting the project's funding structure, it said.
The lending consortium includes European Bank for Reconstruction and Development, Proparco, Development Bank of Kazakhstan, DEG, Societe Generale, QNB Group, China Construction Bank and Standard Chartered.
Olivier Jouny, senior vice president renewables at TotalEnergies, said the project will support Kazakhstan's plan to raise renewable energy to 15% of electricity generation by 2030, the company added.
He added the 1 GW wind project will also contribute to a broader 9 GW renewables portfolio developed with Masdar through a 50/50 joint venture spanning nine Asian countries, including Kazakhstan, according to the company.
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