France's TotalEnergies and Kazakhstan's Ministry of Energy have signed an Agreement on Investment (AoI) to construct a wind power plant in the village of Mirny, the Zhambyl region, TotalEnergies' press service said on Monday in a press release, Azernews reports, citing Interfax.

The document was signed in Dubai by TotalEnergies Chairman and CEO Patrick Pouyanné and Kazakh Energy Minister Almasadam Satkaliyev in the presence of Kazakh President Kassym-Jomart Tokayev during the UN COP28 climate change conference.

"This Agreement on Investment comes after the signature in June 2023 of a Power Purchase Agreement (PPA) for the Mirny project," according to the press release.

Investment in the project will total over $1.4 billion.

In 2022, Total Eren, part of TotalEnergies, signed an agreement to create Kazakhstan's biggest wind energy project in the Zhambyl Region. The project is expected to draw 820 billion tenge in investment, and it features a 300 MWh/600 MWh energy storage system. It is projected to start operating in 2026-2027, and costs an estimated $1.9 billion.

In June 2023, Total Eren, JSC Samruk-Kazyna National Wealth Fund, and JSC KazMunayGas National Company signed an agreement on the purchase of electricity from the Mirny wind farm in the Zhambyl Region. Technically, the electricity will be purchased by Kazakhstan's RES Payment Center LLP from a joint venture created by Total Eren S.A. (60%), Samruk-Kazyna (20%), and KazMunayGas (20%).

In November 2023, Kazakhstan's lower house of parliament, the Majilis, approved a law ratifying an agreement for France to construct a wind power plant in the Zhambyl Region.