BAKU, Azerbaijan, September 30. The Development Bank of Kazakhstan signed a loan agreement with German state-owned development bank KfW for up to $200 million to finance renewable energy projects, the bank said.
The agreement was signed during President Kassym-Jomart Tokayev’s official visit to Germany, which began on September 28.
“The loan is being raised under a guarantee from the Multilateral Investment Guarantee Agency (MIGA) and will be used to finance renewable energy projects,” the bank said.
The bank noted that this is the first joint transaction between the Development Bank of Kazakhstan and KfW, KfW’s first direct project in Kazakhstan, and the first joint transaction between KfW and MIGA globally.
The first project to be financed with these funds will be the construction of a 1-GW wind power plant with a 300-MW/600-MWh battery energy storage system (BESS) by Aktas Energy LLP near the village of Mirny in Kazakhstan’s Zhambyl Region.
According to DBK, once commissioned, the wind farm will generate about 4 TWh of electricity annually. This will enable the project to supply electricity to around 1 million people and reduce greenhouse gas emissions by 3.5 million tons of CO₂ annually, in line with ESG principles.
Construction of the Mirny wind farm began in March 2026 in southeastern Kazakhstan. The wind power plant is expected to generate up to 100 TWh of electricity over a 25-year period. The wind farm will comprise 150 wind turbines. The electricity generated will be supplied to the grid. With total investments estimated at $1.2 billion, roughly three-quarters of the funding will come from external sources.
The project is owned by TotalEnergies (60%), Samruk Energy (20%) and National Company KazMunayGas (20%).
