Key Takeaways:
TotalEnergies has finalized its investment decision on a $1.2 billion hybrid power project in Kazakhstan, combining a 1-gigawatt wind farm with 600 megawatt-hours of battery storage, a move that scales its renewable footprint in Central Asia.
"This project is a cornerstone of our strategy to provide clean, reliable energy," a company representative said in the announcement. The project's financing, with approximately 75% to be covered by external lenders, shows robust confidence from financial institutions in Kazakhstan's renewable energy framework and TotalEnergies' operational record.
The Mirny project, located in Kazakhstan's southeastern Zhambyl region, is slated to reach full capacity in 2029. Over its 25-year operational life, it is projected to generate 100 terawatt-hours of electricity, enough to supply around one million people. The integrated 600 MWh battery system will be one of the largest in the region, designed to provide grid stability and ensure a consistent power supply from the intermittent wind source.
The $1.2 billion investment highlights a growing industry trend of combining wind or solar generation with large-scale battery storage to provide firm, dispatchable power. For comparison, Indian renewable developer Evren recently secured $600 million to build a 1 GW hybrid portfolio combining solar, wind, and storage. TotalEnergies' 25-year power purchase agreement with the Kazakh government significantly de-risks the investment, guaranteeing a long-term buyer for the electricity produced and creating a stable revenue stream that is attractive to project financiers.
This article is for informational purposes only and does not constitute investment advice.
