TotalEnergies Reaches Final Investment Decision on Major Mirny Wind and BESS Project in Kazakhstan
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has officially reached the Final Investment Decision (FID) and secured financing for its large-scale Mirny onshore wind and Battery Energy Storage System (BESS) project in Kazakhstan. The development marks a significant milestone in the country’s renewable energy transition and strengthens TotalEnergies’ global renewable energy portfolio.
Located in the southeastern region of Kazakhstan, the Mirny project is designed to become one of the country’s most ambitious clean energy installations. Once fully operational, it is expected to generate approximately 100 terawatt-hours (TWh) of renewable electricity over a 25-year period. This volume of clean power is sufficient to supply electricity to around one million people in Kazakhstan, significantly contributing to national energy security and decarbonization goals.
Long-Term Energy Supply Under Government Agreement
The electricity produced by the Mirny project will be sold directly to the Government of Kazakhstan under a long-term 25-year Power Purchase Agreement (PPA), which was signed in 2023. This agreement ensures stable revenue for the project while also guaranteeing long-term clean electricity supply for the country’s grid.
The project represents an investment of approximately $1.2 billion, with nearly 75% of the total funding secured through external financing. This strong level of financial backing highlights international confidence in Kazakhstan’s renewable energy potential and in TotalEnergies’ execution capabilities.
A Landmark Renewable Energy Project for Kazakhstan
The Mirny development is structured as a hybrid renewable energy facility combining a 1 gigawatt (GW) onshore wind farm with a large-scale energy storage system. The wind farm will consist of approximately 150 turbines spread across the project site, harnessing the region’s strong wind resources to produce consistent clean energy.
Complementing the wind generation capacity is a 600 megawatt-hour (MWh) Battery Energy Storage System. This system will be supplied by Saft, a wholly owned subsidiary of TotalEnergies specializing in advanced battery technology. The integration of battery storage is a critical component of the project, as it will allow for improved grid stability by balancing fluctuations in wind power generation and ensuring a more reliable electricity supply.
By combining wind generation with energy storage, the Mirny project represents a more modern and resilient approach to renewable energy infrastructure. It will help Kazakhstan manage variability in renewable output while reducing dependence on fossil fuel-based power plants for grid balancing.
Strategic Partnerships and Ownership Structure
TotalEnergies holds a 60% majority stake in the Mirny project. It is joined by strategic Kazakhstani energy partners Samruk-Energy and KazMunayGas, each holding a 20% stake. This partnership structure ensures strong local participation while leveraging TotalEnergies’ international expertise in renewable project development and operations.
The collaboration also aligns with Kazakhstan’s broader energy strategy, which aims to diversify its power generation mix and increase the share of renewable energy sources in national electricity production.
Securing International Financing Support
A key milestone in the project’s development was the signing of a Common Terms Agreement (CTA) between TotalEnergies, its partners, and a consortium of international lenders. This agreement establishes the financial framework necessary for the project’s implementation and long-term stability.
The lending consortium includes several major global financial institutions and development banks: the European Bank for Reconstruction and Development (EBRD), Proparco, the Development Bank of Kazakhstan (DBK), DEG (Germany’s development finance institution), Société Générale, QNB Group, China Construction Bank, and Standard Chartered.
The involvement of these institutions underscores the project’s strong financial credibility and its alignment with global sustainability and climate finance objectives. Development banks in particular play an important role in supporting renewable energy expansion in emerging markets, helping to reduce risk and attract private investment.
Supporting Kazakhstan’s Energy Transition
The Mirny project is expected to play a central role in supporting Kazakhstan’s national energy transition goals. The country has set an objective to increase the share of renewable energy in its electricity generation mix to 15% by 2030. Large-scale projects like Mirny are essential to achieving this target.
Beyond renewable energy generation, the project will also contribute to modernization of Kazakhstan’s electricity infrastructure. The addition of large-scale battery storage is particularly important, as it will help improve grid reliability, reduce curtailment of renewable energy, and support integration of additional renewable capacity in the future.
Corporate Vision and Global Strategy
Olivier Jouny, Senior Vice President for Renewables at TotalEnergies, highlighted the significance of the project, describing it as one of Kazakhstan’s largest renewable energy initiatives to date. He emphasized that the development supports both national energy goals and the company’s global renewable expansion strategy.
According to Jouny, the 1 GW wind project in Kazakhstan is also part of a broader 9 GW renewable energy portfolio that TotalEnergies is developing in partnership with Masdar, a leading renewable energy company. This joint venture spans nine Asian countries, including Kazakhstan, and reflects the company’s ambition to scale up renewable energy capacity across fast-growing energy markets.
A Step Toward Large-Scale Clean Energy Integration
The Mirny project represents more than just a single infrastructure investment—it is a model for how large-scale renewable energy systems can be deployed in emerging economies. By combining wind generation, battery storage, international financing, and strong government partnerships, the project demonstrates a comprehensive approach to energy transition.
Once operational, Mirny will not only supply clean electricity but also provide valuable experience in integrating renewable energy into a national grid at scale. This includes managing intermittency, stabilizing supply through storage, and ensuring long-term financial sustainability through structured power purchase agreements.
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