TotalEnergies has agreed to divest a 50% stake in 11 battery storage projects in Germany, with a combined capacity ranging from 789MW to 1.63 gigawatt-hours (GWh), to Allianz Global Investors (AllianzGI).
The acquisition is on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund II, said AllianzGI.
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The transaction is pending customary regulatory approvals and conditions before it can be finalised.
Under the agreement, the partners will invest €500m in the country’s essential energy infrastructure, with 70% of the funding coming from debt financing.
These projects are expected to be fully operational by the year 2028.
Currently under construction across various locations in Germany, the projects were developed by Kyon Energy, a subsidiary of TotalEnergies.
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By GlobalDataSaft, another TotalEnergies subsidiary, will supply the next-generation batteries for most of these installations.
TotalEnergies gas, renewables and power president Stéphane Michel said: “We are delighted to welcome Allianz, a first-class partner in Germany, as a shareholder in 11 of our battery storage projects, representing a total capacity of nearly 800MW.
“In line with our business model, this transaction enables us to optimise our capital allocation in our integrated power activities and helps improve the sector’s profitability.
“This operation [will] strengthen our development momentum in Germany, Europe’s largest power market, where we are deploying our clean firm power strategy, as illustrated by the 200MW PPA [power purchase agreement] signed with Airbus recently.”
TotalEnergies will continue to operate the assets following the completion of the sale.
The initiative aims to bolster the stability of Germany’s power grid by alleviating congestion and enabling greater flexibility.
In Germany, TotalEnergies is actively involved in multiple facets of the power sector, including the development of renewable energy projects like wind and solar, as well as trading and aggregation processes that ensure a consistent supply of low-carbon electricity.
Allianz Global Investors head of Private Markets Édouard Jozan said: “The shift to cleaner energy depends on strong infrastructure. This investment marks Allianz’s first direct equity commitment to a portfolio of battery storage projects.
“As a pioneer in energy transition investing for more than 20 years with a portfolio spanning wind and solar farms, green hydrogen platforms and an electricity interconnector, we are very delighted to partner with Total Energies on this important project in one of our home markets, Germany.
“These 11 projects across Germany with a capacity of 789MW upon completion will help reinforce the country’s energy resilience, accelerate the energy transition and deliver long-term value for our clients.”
In January 2026, TotalEnergies signed an agreement to provide 800GWh of renewable electricity over a ten-year period to SWM’s three plants in France.
