REG-TotalEnergies SE Kazakhstan: TotalEnergies signs a 25-year PPA for a 1 GW Wind Project

TotalEnergies SEAnnouncement

09/06/2023 07:30

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Kazakhstan: TotalEnergies signs a 25-year PPA for a 1 GW Wind Project

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) confirms its commitment to the
energy transition in Kazakhstan with the signature of a Power Purchase
Agreement (PPA) for the Mirny project. This will be the first PPA signed in
the country for a wind project of such scale. Located in the Zhambyl region,
the project aims to build a 1 GW onshore wind farm combined with a 600 MWh
battery energy storage system for a reliable power supply. It represents an
investment of about $1.4 billion. After Irak, it is another prime example of
TotalEnergies’ ability to leverage its position as a major partner in the
upstream sector to speed up the development of renewable energy in oil and gas
countries.

The electricity to be produced by the Mirny project will be sold in its
entirety to the Financial Settlement Center of Renewable Energy, a public
entity owned by the Government of Kazakhstan, for the supply of the national
grid. The project will provide electricity to 1 million people.

This agreement has been signed in Astana between Total Eren, an affiliate of
TotalEnergies, and the FSC, in the presence of Patrick Pouyanné, Chairman and
CEO of TotalEnergies and the Minister of Energy and Mineral Resources of the
Republic of Kazakhstan, Almasadam Satkaliyev. TotalEnergies will develop the
Mirny project in partnership with the National Wealth Fund Samruk-Kazyna and
the National Company KazMunayGas, which will each own a 20% stake in the
project.

“This project will contribute to the transition of Kazakhstan to the green
energy and will be a breakthrough in strengthening French-Kazakh investment
cooperation,” said Almassadam Satkaliyev, Minister of Energy and Mineral
Resources of the Republic of Kazakhstan.

"As a global energy leader, TotalEnergies is proud to drive the energy
transition in Kazakhstan through such an innovative project as Mirny. This
wind and battery project will contribute to the supply and security of the
Kazakh power grid. I would like to express my sincere gratitude to the Kazakh
authorities for their support and collaboration throughout this process. This
represents a significant milestone in TotalEnergies' multi-energy strategy.
TotalEnergies will bring its expertise in managing large-scale projects to
make it a success, " said Patrick Pouyanné, Chairman and CEO of
TotalEnergies.

A wind project contributing to Kazakhstan’s renewable push

The Mirny project, which will consist of around 200 turbines, is the largest
wind energy initiative ever undertaken in Kazakhstan. Supported, by both the
Kazakh and French authorities, the project will be a strong contributor to the
Kazakh Government's target of achieving 15% of electricity from renewable
sources by 2030. It will avoid the emission of approximately 3.5 million tons
of CO(2) annually over the duration of the PPA signed today.

A successful renewable track-record for Total Eren in Kazakhstan

Total Eren has a proven track record of renewable energy developments in
Kazakhstan. In particular, Total Eren successfully developed, financed, built,
and commissioned in 2019 two solar photovoltaic farms, M-KAT and Nomad, with a
combined capacity of 128 MWp. These solar farms, located in the Zhambyl and
Kyzylorda regions respectively, have been instrumental in diversifying
Kazakhstan's energy mix and reducing carbon emissions.

***

TotalEnergies and renewables electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a portfolio of activities in electricity and renewables. At the end of 2022,
TotalEnergies' gross renewable electricity generation installed capacity was
17 GW. TotalEnergies will continue to expand this business to reach 35 GW of
gross production capacity from renewable sources and storage by 2025, and then
100 GW by 2030 with the objective of being among the world's top 5 producers
of electricity from wind and solar energy.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in nearly 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
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SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
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nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
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TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

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