On December 2, the Kazakh government and French energy and petroleum company TotalEnergies signed an investment agreement for the construction and operation of a 1 GW wind farm in Kazakhstan during the COP28 conference in Dubai, QazMonitor reports citing the press service of Kazakh Invest.
The project costing over $1.3 billion will be implemented in the vicinity of the Mirny settlement in the Zhambyl region, utilizing a battery energy storage system with a capacity of 300MWh/600MWh. It is expected that the project will create 250 permanent jobs.
The document also entails the experience and practice exchange in the field of renewable energy between the governments of Kazakhstan and France, contributing to the adoption of modern and efficient clean energy solutions and the fight against global warming.
Dinara Issabekova, Industry Executive at Kazakh Invest, highlighted that the document includes not only Kazakhstan’s commitments to the investor but also reciprocal obligations from the investor.
"Investment goes beyond economic benefits alone; it is also important to invest in human capital. The inclusion of social commitments by the investor in the context of the Investment Agreement is not just a business strategy but a commitment to creating favorable conditions for the progress of the entire society," said Issabekova.