Kazakhstan: French oil major TotalEnergies has approved a $1.2 B investment in a 1 GW wind farm in Kazakhstan, continuing with the plan despite legal and financial disputes in the country.

The final investment decision for the Mirny project comes as the company challenges a $4.6 B environmental fine and a separate multibillion-dollar cost disagreement tied to the Kashagan offshore oilfield in the Caspian Sea, which it operates with several major partners.

TotalEnergies’ move differs from fellow consortium member Shell, which has paused further investment in Kazakhstan due to the disputes.

The Mirny project will also feature a 600 MWh battery energy storage system. TotalEnergies will own a 60 % stake, while Kazakhstan’s state-owned KazMunayGas and Samruk Energy will each hold 20 %.

The development will be included in a 50/50 renewable energy partnership that TotalEnergies is forming with UAE-based Masdar, helping to share investment costs. Around 75 % of the project will be financed externally, with full capacity expected by 2029.

A company executive said the project supports Kazakhstan’s goal of increasing renewable energy to 15 % of electricity generation by 2030.

Source: Reuters

👉 Explore similar articles

#BESS#investment#Kazakhstan#Masdar#Mirny project#Renewables#TotalEnergies#wind energy

Nearly $2.3 B has been allocated to clean energy projects, supporting renewables, grid upgrades and energy efficiency across Europe.

Agreement covers optimisation of a 150 MW/300 MWh battery project, with operations support extending to 2037.

The contract for Sylten substation in Norrköping includes high voltage, electrical and ventilation works worth over 150 MSEK.