Overview
- Allianz Global Investors is acquiring the stake on behalf of Allianz insurance companies and its Allianz European Infrastructure Fund II.
- The partnership covers 11 utility-scale storage projects scheduled to be commissioned by 2028 across Germany.
- About €500 million will be invested in the portfolio, with roughly 70% provided as debt financing.
- The partners will finance, build and operate the assets to deliver grid flexibility and stability.
- Allianz cites benefits for energy security and the energy transition, and TotalEnergies says the deal supports its expansion in Europe’s largest power market.