Finance
TotalEnergies to Invest in $1.2 Billion Power Project in Kazakhstan
Published by Global Banking & Finance Review®
Posted on April 24, 2026
1 min readLast updated: April 24, 2026
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TotalEnergies has begun construction on its Mirny project in Kazakhstan, a $1.2 billion initiative combining a 1 GW onshore wind farm and 600 MWh battery storage, designed to come online by late 2028 and supported by external financing.
TotalEnergies to invest in $1.2 billion power project in Kazakhstan
Overview of TotalEnergies' Investment in Kazakhstan
Correction Notice
(Corrects paragraph 2 to say the project is expected to reach full capacity in 2029, not to fully launch in that year)
Details of the Investment Agreement
April 24 (Reuters) - French energy major TotalEnergies on Friday agreed to invest in a Kazakhstan-based onshore wind and energy storage project valued at $1.2 billion, with roughly 75% of it financed externally, the company said.
Project Specifications
The project, code-named "Mirny", combines one gigawatt of wind capacity with 600 megawatt hours of battery energy storage. TotalEnergies expects the project to reach full capacity in 2029.
Reporting and Editorial Information
(Reporting by Mateusz Rabiega, editing by Milla Nissi-Prussak)
Key Takeaways
- •Phase one of the Mirny project, with estimated investment of $1.2 billion, is now underway in Kazakhstan’s Zhambyl region, targeting completion by Q4 2028, with 75% of funding expected from external sources (windpowermonthly.com).
- •Mirny will feature 1 GW of wind capacity plus a 600 MWh battery energy storage system, delivering renewable electricity to about one million people while reducing CO₂ emissions by roughly 3.5 million tonnes per year (totalenergies.com).
- •Developed by Aktas Energy (TotalEnergies 60%, Samruk‑Kazyna 20%, KazMunayGas 20%), the project benefits from a 25‑year power purchase agreement signed in June 2023 and is supported by international financing, including potential funding from the EBRD (totalenergies.com).
References
Frequently Asked Questions about TotalEnergies to invest in $1.2 billion power project in Kazakhstan
1How much is TotalEnergies investing in the Kazakhstan power project?
TotalEnergies is investing $1.2 billion in the Kazakhstan-based onshore wind and energy storage project.
2What does the 'Mirny' project include?
The 'Mirny' project combines one gigawatt of wind capacity with 600 megawatt hours of battery energy storage.
3When is the TotalEnergies Kazakhstan power project expected to launch?
TotalEnergies expects the project to be fully launched in 2029.
4How much of the TotalEnergies investment will be financed externally?
About 75% of the $1.2 billion investment will be financed externally.
5Who reported and edited the news on TotalEnergies’ Kazakhstan investment?
The news was reported by Mateusz Rabiega and edited by Milla Nissi-Prussak.
