TotalEnergies and AllianzGI to build 800 MW of battery storage in Germany

Germany

HAMBURG, March 3, 2026 – TotalEnergies has agreed to sell Allianz Global Investors a 50% stake in 11 battery storage projects totalling 789 MW in Germany, representing an investment of EUR 500 million, the company said on Tuesday.

The 11 projects, developed by Kyon Energy and located across Germany, are under construction and will be operational by 2028, with most using next-generation batteries supplied by Saft and 70% of the investment financed by debt. TotalEnergies will remain operator of the assets, which are expected to help reduce grid congestion and support renewable energy growth in Europe’s largest power market.

“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 800 MW,” TotalEnergies president gas, renewables and power Stéphane Michel said.

“The shift to cleaner energy depends on strong infrastructure,” Allianz Global Investors head of private markets Édouard Jozan said, adding that the 789-MW portfolio would reinforce Germany’s energy resilience and deliver long-term value for clients.

TotalEnergies is active across the German power value chain, spanning wind and solar development, battery storage, trading and aggregation, as it expands its integrated power and low-carbon electricity portfolio in the country.

Allianz Global Investors is a global active asset manager with more than 700 investment professionals in 21 offices worldwide and EUR 591 billion in assets under management, focusing on public and private markets with a strong emphasis on sustainability.