TotalEnergies Seeks $250m for 1GW Kazak Build

Why It Matters

The financing enables one of Central Asia’s largest renewable projects, accelerating Kazakhstan’s clean‑energy transition and delivering significant CO₂ cuts. It also highlights the EBRD’s role in mobilising capital for high‑impact green infrastructure.

Key Takeaways

• TotalEnergies seeks $250 million EBRD loan for 1 GW wind
• Project includes 140 turbines and 300 MW/600 MWh BESS
• Three 500‑kV lines, 231 km, upgrade two substations
• Expected annual CO₂ reduction of 2.48 million tonnes
• Power purchase agreement ensures all output sold to Kazakh state

Pulse Analysis

Kazakhstan has set ambitious renewable‑energy targets, aiming to source 30% of its electricity from clean power by 2030. TotalEnergies’ Mirny wind farm aligns with this national strategy, offering a substantial boost to the country’s wind capacity. By partnering with local giants NC KazMunayGas and NWF Samruk‑Kazyna, the project leverages domestic expertise while attracting international financing, exemplifying how multilateral banks like the EBRD can de‑risk large‑scale green investments in emerging markets.

The technical scope of Mirny is noteworthy: 140 turbines rated up to 7.7 MW each will be sited in the harsh climate of southeast Kazakhstan, demanding robust design and logistics solutions. Complementing the turbines, a 300 MW/600 MWh battery energy storage system from SAFT will provide grid‑balancing services, smoothing intermittent generation and enhancing reliability. The inclusion of three 500‑kV transmission lines spanning 231 km, alongside upgrades to existing substations, addresses the challenge of evacuating power from a remote location to the national grid, underscoring the project’s integrated infrastructure approach.

From a market perspective, the $250 million senior secured loan signals growing investor confidence in Central Asian renewables. The power purchase agreement with the Financial Settlement Center of Renewable Energy guarantees revenue certainty, making the asset attractive for future debt refinancing or equity participation. As the first power is expected in 2028, the Mirny project will not only cut 2.48 million tonnes of CO₂ annually but also set a precedent for large‑scale wind‑plus‑storage deployments across the region, potentially catalysing further private‑sector involvement in the continent’s energy transition.