TotalEnergies takes final investment decision for Mirny project in Kazakhstan

TotalEnergies (TTE) has taken the final investment decision and secured financing for the Mirny onshore wind and battery energy storage system project in Kazakhstan. Located in the southeast of the country, Mirny should generate 100 TWh of renewable electricity over 25 years, enough to supply about 1M people in Kazakhstan. The electricity produced will be sold to the Government of Kazakhstan under a 25-year power purchase agreement signed in 2023. The project’s investment amounts to $1.2B, with about 75% externally financed. The Mirny project consists of a 1 GW onshore wind farm totaling 150 turbines, combined with a 600 MWh battery energy storage system supplied by TotalEnergies’ wholly owned affiliate Saft, for a reliable power supply to the national grid. The inclusion of a storage facility will enhance grid stability and represents a significant upgrade to the country’s energy infrastructure. TotalEnergies holds 60% of Mirny, jointly with its partners Samruk Energy and KazMunayGas. TotalEnergies and its partners signed yesterday a common terms agreement with an international lending consortium, securing a financing framework for the Mirny project. The lending consortium includes EBRD, Proparco, DBK, DEG, Societe Generale, QNB Group, China Construction Bank, and Standard Chartered.