French TotalEnergies Signs Investment Agreement with the Government of Kazakhstan
As part of the Head of State's visit to the UAE, an Investment Agreement was signed with the Government of the Republic of Kazakhstan to implement the TotalEnergies project for the development, construction, and operation of a wind power station with a project capacity of 1 GW. The project, supported by JSC "NC" KAZAKH INVEST," will exceed $1.3 billion in cost, creating 250 permanent jobs. The project will also involve JSC "Samruk-Kazyna" and JSC "NC" KazMunayGas.
It is planned that the project will be implemented in the vicinity of the settlement of Mirny, Zhambyl region, utilizing a battery energy storage system with a capacity of 300 megawatts/600 megawatt-hours. The measures outlined in the document include the promotion of innovative solutions, the development of wind energy technologies, and ensuring the sustainable operation of the power station. The collaboration entails the exchange of experience and best practices in the field of renewable energy between the Government of the Republic of Kazakhstan and French partners, contributing to the adoption of modern and efficient solutions in the field of clean energy and the fight against global warming.
Dinara Issabekova, Industry Executive at JSC "NC" KAZAKH INVEST, highlighted that the Investment Agreement includes not only the government's commitments to the investor but also reciprocal obligations from the investor within the framework of the project implementation.
"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," emphasized D. Issabekova.
