TotalEnergies: $1.4bn for a wind power project in Kazakhstan
(CercleFinance.com) - TotalEnergies announces that it has signed the investment agreement for Mirny, the largest wind power project ever initiated in Kazakhstan.
The project is expected to provide low-carbon electricity to 1 million people and avoid the emission of 3.5 million tons of CO2 per year in the country.
The Mirny project involves the construction of a 1 GW onshore wind farm, with 160 wind turbines combined with a 600 MWh battery energy storage system for reliable power supply.
Mirny represents an investment of around $1.4bn and illustrates TotalEnergies' ability to leverage its position as a major partner in the upstream sector to accelerate the development of renewable energies in oil and gas countries.
TotalEnergies will develop the Mirny project in partnership with the National Wealth Fund Samruk-Kazyna and the National Company KazMunayGas, which will each hold a 20% stake in the project.
Copyright (c) 2023 CercleFinance.com. All rights reserved.