BAKU, Azerbaijan, June 10. In a significant development for combating global warming, in the presence of Minister of Energy of Kazakhstan Almassadam Satkaliyev and President of TotalEnergies Patrick Pouyanné, a power purchase agreement was signed between Kazakhstan's Financial Settlement Center of Renewable Energy LLP and the TotalEren, an affiliate of TotalEnergies, Trend reports.
The agreement entails the purchase of electricity by the Financial Settlement Center of Renewable Energy from the joint Project Company established by TotalEren, Kazakhstan's Samruk-Kazyna National Welfare Fund, and KazMunayGas National Company. The Financial Settlement Center of Renewable Energy is committed to buying and accepting electricity generated by a 1,000 MW wind power plant.
This event lays a solid foundation for the strengthening and further development of French-Kazakh investment cooperation, highlighting the commitment of both nations to combatting climate change and promoting renewable energy initiatives.
The next step in this bilateral relationship is the ratification of the Agreement in the Parliament of Kazakhstan.
Previously, on November 30, 2022, a Special Agreement was signed between the Government of the Republic of Kazakhstan and the Government of the French Republic, focusing on cooperation in the fight against global warming. The agreement aims to strengthen long-term bilateral cooperation between the two countries in the field of energy, specifically renewable energy sources and green technologies.
One of the major projects planned under this Agreement is the construction of a 1 GW wind power plant with an energy storage system capacity of 300-600 MWh in the Zhambyl region (Mirny project).
The introduction of the wind farm in the Zhambyl region marks a significant milestone for Kazakhstan. It will be the country's first wind power plant combined with an energy storage system.