On Friday, TotalEnergies SE (NYSE:TTE) approved a $1.2 billion final investment decision for the Mirny wind and battery project in Kazakhstan, with about 75% of funding secured from external lenders.

The project combines 1 GW of onshore wind capacity with a 600 MWh battery system to improve grid reliability. It is expected to generate 100 TWh of electricity over 25 years—enough to power roughly 1 million people—under a long-term power purchase agreement with the government.

TotalEnergies holds a 60% stake, alongside Samruk Energy and KazMunayGas.

Technical Analysis

TotalEnergies is still trading near the top of its 52-week range, sitting just under the April peak near $93.49, which keeps the bigger-picture uptrend in focus. The stock is trading 0.7% below its 20-day simple moving average (SMA) and 17.7% above its 100-day SMA, a mix that points to short-term cooling but a still-firm intermediate trend.

The moving average convergence divergence (MACD), a trend/momentum measure, is below its signal line and the histogram is negative, which leans toward fading upside momentum after the April run. ...