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Proparco finances landmark Mirny 1 GW wind power and 600 MWh battery project in Kazakhstan
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Proparco lends USD 150 million as part of a USD 930 million financing deal, acting as Arranger for DEG, the German Development Finance Institution, and in parallel with European Bank for Reconstruction and Development (EBRD), the Development Bank of Kazakhstan (DBK) and commercial banks to the Mirny project company Aktas Energy.
The investment will finance the development, construction and operation of a 1GW wind power project with a 300 MW / 600 MWh battery energy storage system (BESS) near the village of Mirny (Zhambyl region) in Kazakhstan. The BESS will be supplied by Saft, a tier-1 system integrator and a leading battery manufacturer.
This groundbreaking transaction represents the first large scale project financing in renewable energy with a BESS in the country and it will be key in helping Kazakhstan achieve its ambitious targets for renewable capacity increase by 2030. The project is fully aligned with the Paris Agreement objective and will contribute to Sustainable Development Goals. Once operational, the project will avoid greenhouse gas estimated at 2 292 199 teqCO2e per year and will support Kazakhstan’s energy transition goal.
The project will sell all of the electricity produced by the wind power project to Kazakhstan’s public Offtaker under a 25-year long term power purchase agreement, paving the way for future renewable energy investments in Kazakhstan and reinforcing confidence in the country’s engagement to deployment of renewable energy solutions.
In addition, by integrating a utility scale battery storage, the project will contribute to addressing intermittency challenges, enhancing grid flexibility and improving energy security.
The Mirny Project is developed by Aktas Energy with the support of its majority shareholder TotalEnergies Renewables and of the National Wealth Fund Samruk-Kazyna and the National Company KazMunayGas, which each own a 20% stake in the project.
The investment is fully aligned with Proparco’s strategy in Kazakhstan to support energy security and green transition.
Emmanuelle Riedel Drouin, Global head of Lending operations at Proparco, stated: “We are very pleased to support this groundbreaking project in Kazakhstan. By combining large‑scale wind power generation with battery storage, this investment will play a key role in strengthening Kazakhstan’s energy system, enhancing security of supply and setting an important precedent for future projects.”
Steven Gardon, Regional Director for Turkey, Caucasus, Central Asia, Balkans and Eastern Europe at Proparco, commented: “This investment marks an important milestone for Proparco in Kazakhstan, as it is our first energy project in the country. Entering to the Kazakhstan energy sector with such a large‑scale and innovative project underlines Proparco’s commitment to supporting the green transition and strengthening energy security in the country.”
Proparco is the subsidiary, focused on private sector development, of the AFD Group, which officially established a representative office in Astana in September 2024, following the intergovernmental agreement signed in November 2023 between France and the Republic of Kazakhstan. Cooperation in the energy sector is identified as a key priority of the Group's mandate in Kazakhstan, as stated in the AFD Group Roadmap in Kazakhstan for the period of 2026 – 2028 validated between AFD and the Ministry of National Economy of the Republic of Kazakhstan in January 2026.