TotalEnergies and Kazakhstan inked an Agreement on Investment (AoI) for the French multinational company’s Mirny project during the COP28 summit.
COP28 is an integral, global platform for global climate action that garners global attention through the presence of heavyweights like PM Narendra Modi, and UK PM Rishi Sunak.
Patrick Pouyanné, Chairman and CEO of TotalEnergies said, “Our company is making a direct contribution to this ambition and to the energy transition in Kazakhstan.”
Total Energies claims that the Mirny project will be considered the largest wind energy project to be initiated in Kazakhstan, as the project will supply low-carbon electricity to 1 million people, which leads to avoiding 3.5 million tons of CO2 emission annually in the country.
TotalEnergies will develop the Mirny project in partnership with the National Wealth Fund Samruk-Kazyna and the National Company KazMunayGas, both will own 20 per cent stake each in the project, it said.
The project aims to build a 1 GW onshore wind farm of up to 160 turbines combined with a 600 MWh battery energy storage system for a reliable power supply, the company said.
The Agreement on Investment (AoI) was inked by Patrick Pouyanné and the Minister of Energy of Kazakhstan, Almasadam Satkaliyev. This occured post the signature in June for a Power Purchase Agreement (PPA), concerning the Mirny project.
“Due to this project, TotalEnergies will be able to triple its power generation from 33 TWh to more than 100 TWh by 2030,” the multi-energy firm said.
