TotalEnergies seals $1.4bn Kazakh wind power project deal
DUBAI, December 4, 2023
Global multi-energy company TotalEnergies has signed an agreement with Government of Kazakhstan to set up the country's largest ever wind energy project at an investment of $1.4 billion.
The Mirny project aims to build a 1 GW onshore wind farm of up to 160 turbines combined with a 600 MWh battery energy storage system for a reliable power supply.
On completion, it will supply low-carbon power to more than 1 million people in the Central Asian country, thus cutting emission of 3.5 million tonnes of CO2 annually in the country.
The Agreement on Investment (AoI) was signed in the presence of Patrick Pouyanné, Chairman and CEO of TotalEnergies, and President of Kazakhstan Kassym-Jomart Tokayev on the sidelines of the COP28 in Dubai.
Mirny is a prime example of TotalEnergies’ ability to leverage its position as a major partner in the upstream sector to speed up the development of renewable energy in Oil & Gas countries, said Pouyanné.
This AoI comes close on the heels of the Power Purchase Agreement (PPA) in June for the Mirny project, the first to be signed in the country for a wind project of such scale, he stated.
The French group is developing 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.
"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," noted Pouyanné.
"The signing of this Agreement on Investment will allow to launch the Mirny project, which will help TotalEnergies triple its power generation from 33 TWh to more than 100 TWh by 2030," he added.-TradeArabia News Service