TotalEnergies has reached a major milestone by taking the Final Investment Decision and securing financing for the Mirny wind and BESS project in Kazakhstan. Situated in the southeast of the country, the Mirny wind and BESS project is expected to produce 100 TWh of renewable electricity over a 25-year period, an output sufficient to supply approximately 1 million people across Kazakhstan. The electricity generated will be sold to the Government of Kazakhstan under a 25-year Power Purchase Agreement (PPA) signed in 2023. The overall investment in the project stands at $1.2 billion, with close to 75% of the funding sourced externally, underscoring the scale and financial structure of the Mirny wind and BESS project.
Positioned as a flagship initiative for the country, the project combines a 1 GW onshore wind farm with a Battery Energy Storage System (BESS). The wind facility will comprise 150 turbines, while the storage component, with a capacity of 600 MWh, will be supplied by Saft, a wholly owned affiliate of TotalEnergies. This integrated configuration is designed to deliver reliable electricity to the national grid, with the storage system playing a critical role in improving grid stability. TotalEnergies retains a 60% stake in the project, partnering with Samruk Energy and KazMunayGas, each holding 20%. The Mirny wind and BESS project thus reflects a collaborative approach to strengthening Kazakhstan’s renewable energy infrastructure.
Financial backing for the project has been formalized through a Common Terms Agreement (CTA) signed between TotalEnergies, its partners, and an international consortium of lenders. The consortium includes European Bank for Reconstruction and Development, Proparco, Development Bank of Kazakhstan, DEG, Société Générale, QNB Group, China Construction Bank, and Standard Chartered. This agreement establishes the financial framework required to advance the Mirny wind and BESS project, ensuring the availability of capital from a diverse set of global institutions.
“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. We look forward to advancing construction of the Mirny project alongside our partners and in cooperation with the Kazakhstani authorities”, said Olivier Jouny, SVP Renewables at TotalEnergies.
“This 1 GW onshore wind farm will also contribute to the 9 GW renewables portfolio that we are combining with Masdar through a 50/50 joint venture across nine Asian countries, including Kazakhstan”, he added.
