TotalEnergies Secures Financing for Onshore Wind, Battery Energy Storage System Project in Kazakhstan

MT Newswires Live04-24

TotalEnergies (TTE) has secured financing for its Mirny onshore wind and battery energy storage system project in southeast Kazakhstan, the company said Friday.

The company signed a common terms agreement with an international lending consortium, securing a financing framework for the project, which consists of a 1 gigawatt onshore wind farm and a 600 megawatt-hour battery energy storage system.

TotalEnergies owns 60% of the project, while its partners Samruk Energy and KazMunayGas hold 20% each.

The project is expected to generate 100 terawatt-hour of renewable electricity over 25 years, to be sold to the Kazakhstan government under a 25-year power purchase agreement signed in 2023. The project is anticipated to reach full capacity in 2029.

The investment in the project currently amounts to $1.2 billion, with about 75% externally financed, according to TotalEnergies.

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