TotalEnergies has agreed to sell a 50% stake in a portfolio of 11 battery storage projects in Germany to Allianz Global Investors. The projects have a combined capacity of 789 MW / 1,628 MWh and represent an investment of about €500 million. All assets are expected to enter operation by 2028, supporting grid flexibility and the integration of renewable energy in Germany.
PROJECT SNAPSHOT
| Field | Value |
|---|---|
| Companies | TotalEnergies; Allianz Global Investors |
| Project Type | Battery Energy Storage Systems (BESS) |
| Number of Projects | 11 |
| Capacity | 789 MW |
| Capacity | 1,628 MWh |
| Total Investment (EUR million) | 500 |
| Financing Structure | 70% debt financing |
| Developer | Kyon Energy (TotalEnergies subsidiary) |
| Battery Supplier | Saft |
| Country | Germany |
| Target Operation Date | By 2028 |
| Operator | TotalEnergies |
France-based integrated energy company, TotalEnergies has signed an agreement with Germany-based asset manager, Allianz Global Investors (AllianzGI) to sell a 50% stake in a portfolio of 11 battery energy storage system (BESS) projects in Germany. The portfolio has a combined capacity of 789 MW / 1,628 MWh.
Under the agreement, the projects represent a total investment of EUR 500 million (approximately USD 545 million), of which 70% financing expected to be provided through debt.
These 11 projects have been developed by Kyon Energy, a subsidiary of TotalEnergies (acquired by French company in 2024) and will be operational by 2028, with most using next-generation batteries supplied by Saft, a subsidiary of TotalEnergies.
The TotalEnergies will remain the operator of the assets, which include a 147 MW/ 296 MWh storage capacity in Husum, a 103 MW / 208 MWh storage capacity in Brilon and a 100 MW /203 MWh storage capacity in Weingarten.
The deployment of approximately 800 MW of storage capacity is planned to support grid flexibility, reduce network congestion and enhance system stability as renewable energy penetration increases across Germany.
Germany represents a major electricity market for TotalEnergies. The company is developing an offshore wind portfolio of around 7.5 GW in the North Sea and the Baltic Sea and maintains a pipeline of approximately 7 GW of solar and onshore wind projects following the acquisition of VSB. Through Kyon Energy, it is also targeting around 2 GW of battery storage capacity in the country.
TotalEnergies acquired Quadra Energy, a renewable power aggregator in 2023 that manages the marketing, balancing and trading of electricity from wind and solar assets. The company also operates more than 7,500 electric vehicle charging points in Germany and supplies liquefied natural gas through its regasification unit in Mukran on the Baltic Sea coast.
At the beginning of 2026, TotalEnergies has reported over 34 GW of gross renewable power generation capacity worldwide and has set a target of exceeding 100 TWh of net electricity production by 2030.
Stéphane Michel, President Gas, Renewables & Power at TotalEnergies said that Allianz Global Investors has become a shareholder in a portfolio of 11 battery storage projects in Germany with a combined capacity of 800 MW. He added that the transaction supports capital allocation within TotalEnergies’ integrated power activities and advances its electricity strategy in Germany, including recent power purchase agreements such as the 200 MW PPA with Airbus.
Édouard Jozan, Head of Private Markets at Allianz Global Investors, said the investment represents AllianzGI’s first direct equity participation in a battery storage portfolio. He noted that the 789 MW projects across Germany will contribute to grid infrastructure and form part of AllianzGI’s long-standing investments across wind, solar, hydrogen and power interconnection assets.
The completion of the transaction is subject to customary approvals and conditions.