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3w ago

TotalEnergies Sells 50% of 789 MW German Battery Portfolio to AllianzGI

The deal channels long-term capital to speed battery build-out that stabilizes Germany’s wind- and solar-heavy grid.

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Overview

  • TotalEnergies sold a 50% stake in its German battery storage portfolio to Allianz Global Investors in a deal reported at about €500 million.
  • The portfolio spans 11 grid-scale sites under construction totaling 789 MW and 1,628 MWh, with projects slated to reach commercial operation through 2028.
  • TotalEnergies and AllianzGI created a joint venture to finance, build, and operate the storage assets once they come online.
  • DNV acted as technical advisor and delivered a thorough seller-side review that assessed technology choices, build timelines, grid connections, and expected revenue.
  • The projects aim to ease renewable integration and cut grid congestion in Germany, which DNV projects could reach about 98% renewable electricity by 2050.