AllianzGI Acquires 50% Stake in TotalEnergies' 789 MW / 1,628 MWh BESS Portfolio in Germany

Allianz Global Investors (AllianzGI) has signed an agreement to acquire a 50% stake in a portfolio of 11 large-scale battery energy storage projects in Germany from TotalEnergies, with a total capacity of 789 MW and 1,628 MWh. Developed by Kyon Energy, a TotalEnergies subsidiary, all projects are currently under construction and scheduled for commissioning by 2028. The joint venture involves a total investment of €500 million, with TotalEnergies retaining a 50% stake and continuing as operator.

Transaction date: · Source: de.allianzgi.com

Key facts

Transaction date
Capacity
789 MW
Transaction price
500 million (currency as reported in the source)
Country
Germany
Region
Distributed across Germany
Continent
Europe
Development status
Under Construction
PPA
n.a.

Technology details

Portfolio of 11 large-scale battery energy storage projects with a total capacity of 789 MW and 1,628 MWh of energy storage capacity. All projects developed by Kyon Energy, a TotalEnergies subsidiary and leading German BESS developer. All 11 projects to be commissioned by 2028. TotalEnergies remains operator of the assets.

Additional information

AllianzGI acquires 50% stake on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund II; TotalEnergies retains 50% and continues as operator. Total investment volume of €500 million, with 70% debt-financed. This is Allianz's first direct equity investment in a portfolio of large-scale battery storage projects. Projects are distributed across Germany and will contribute to grid flexibility and stability to support the country's growing renewable energy share. Transaction subject to customary regulatory approvals. TotalEnergies recently signed a 200 MW power purchase agreement with Airbus in Germany.

Source

Original announcement: https://de.allianzgi.com/de-de/ueber-uns/presse/20260303-allianzgi-geht-partnerschaft-mit-totalenergies

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