TotalEnergies will be able to launch its mega wind power project in Kazakhstan

"TotalEnergies and its partners signed a memorandum of understanding yesterday with an international consortium of lenders, thus securing the financing of the Mirny project," the oil and gas giant said in a statement.

Partners include the European Bank for Reconstruction and Development (EBRD), Société Générale, the public development bank of Kazakhstan, the Qatari bank QNB, and the Chinese bank China Construction Bank (CCB).

Signed in June 2023, the electricity sales contract provides for the construction in the Zhambyl region (southern Kazakhstan) of an onshore wind farm with a capacity of 1 gigawatts (GW) comprising 150 wind turbines.

These will be combined with a 600 MWh battery storage system, used in addition to manage the intermittency of this energy, supplied by a subsidiary of the oil and gas giant.

"Mirny is expected to produce around 100 TWh of renewable electricity over a period of 25 years, enough to power around 1 million people," the multinational emphasizes.

"We are delighted to launch one of Kazakhstan's largest renewable energy projects, contributing to the country's goal of increasing the share of renewables in its electricity production to 15% by 2030," said Olivier Jouny, TotalEnergies' renewables director, quoted in the press release.