December 1 (Renewables Now) - French energy major TotalEnergies (EPA:TTE) today said it is advancing towards implementation of a 1-GW wind project in Kazakhstan, which has been backed by the governments of the two states during the visit of Kazakhstan’s president Kassym Jomart Tokayev to France.
The huge Mirny project will see the installation of 200 wind turbines totalling 1 GW together with a 600-MWh battery storage system.
TotalEnergies’ affiliate Total Eren signed a memorandum of understanding for the development in October 2021 with Kazakhstan's sovereign wealth fund Samruk-Kazyna and local company KazMunaiGas.
Samruk-Kazyna said in a statement on Tuesday that the partners signed in Paris the term sheet for the implementation of the project, which sets out key conditions such as for the creation of a joint venture, equity interests and sources of financing. Total Eren will have a 60% stake, while Samruk-Kazyna and KazMunayGas will each own 20%.
The project’s cost is estimated at USD 1.9 billion (EUR 1.83bn).
The wind park will be located in Zhambyl region, southeastern Kazakhstan and is expected to come on stream in 2026-2027. It will increase the country’s renewables generation by almost 50% and contribute to Kazakhstan's goal of having renewables account for up to 15% of its electricity generation by 2030.
TotalEnergies made the announcement together with news that it has agreed to sell its interest in the onshore Dunga oil field in Kazakhstan. The company said the moves demonstrate its energy transition strategy. “On the one hand, we dynamically manage our portfolio by disposing of mature, non-core assets such as the Dunga field. On the other, we are very proud to support the country’s low carbon development ambition through the major Mirny wind project,“ commented chairman and chief executive Patrick Pouyanne.
(USD 1 = EUR 0.964)