TotalEnergies Sells 50% of 800 MW German Battery Portfolio to AllianzGI
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An update from TotalEnergies SE ( (FR:TTE) ) is now available.
TotalEnergies has agreed to sell Allianz Global Investors a 50% stake in a portfolio of 11 battery storage projects in Germany, totaling 789 MW and 1,628 MWh, representing a €500 million investment largely debt‑financed. Developed by TotalEnergies’ subsidiary Kyon Energy and largely equipped with Saft batteries, the projects will remain operated by TotalEnergies and are scheduled to be fully operational by 2028, pending customary approvals.
The partnership is aimed at reinforcing Germany’s grid resilience and providing flexibility to support the rapid expansion of renewables, strengthening TotalEnergies’ clean firm power strategy in Europe’s largest power market. For AllianzGI, this is its first direct equity investment in a battery storage portfolio, expanding its long‑standing energy transition platform and promising long‑term value for its clients while underlining both groups’ strategic focus on low‑carbon infrastructure in a core German market.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company operating across oil, biofuels, natural gas, biogas, low‑carbon hydrogen, renewables and electricity, with more than 100,000 employees in about 120 countries. In Germany, it is active along the power value chain, developing large wind and solar portfolios, around 2 GW of battery storage, EV charging networks, and operating a major refinery and LNG supply infrastructure.
For detailed information about TTE stock, go to TipRanks’ Stock Analysis page.
