The CEO of Totalenergies signed this Monday, on the occasion of the COP28 in Dubai, an investment agreement with Kazakhstan regarding a gigantic wind project that will provide electricity to one million inhabitants of this country. This investment contract of 1.4 billion dollars was signed by the head of Totalenergies, Patrick Pouyanné, and the Minister of Energy of Kazakhstan, Almassadam Satkaliev, in the presence of the president of this country, Kassym-Jomart Tokaïev.
He also specified that his group “supports” the call launched on Friday in Dubai by 110 countries to triple renewable energy by 2030. The agreement on the Mirny project was signed at the site of the UN climate conference in Dubai , where States must agree on a global agreement to reduce carbon emissions and limit climate change caused by human activities.
Other partnerships announced before the end of COP28
Located in the Zhambyl region (southern Kazakhstan), the project consists of the construction of a 1 GW capacity onshore wind farm composed of 160 wind turbines associated with a 600 MWh battery storage system, which will also be used to manage the intermittency of this energy. This is the “largest wind project ever started in Kazakhstan”, according to Totalenergies, which plans to multiply its installed renewable capacities by 5, from the current 22 GW to 100 GW in 2030.
The group, often criticized for its investments in fossil fuels, will develop the project, with a 60% stake, in collaboration with the Samruk-Kazyna National Fund and the national company KazMunayGas, which will each have a 20% stake. The agreement completes the 25-year electricity sales contract to the State of Kazakhstan announced in June by the group.
Aside from the climate negotiations in Dubai, the COP is also an opportunity for many companies to announce their environmental strategies. “As a company in the energy sector, Totalenergies was invited to COP 28 by the Emirati presidency,” said the group, which plans to announce other “partnerships” in the coming days in Dubai.
Source: BFM TV
