AllianzGI Acquires 51% Stake in GESI, Germany's 2.6 GW Battery Storage Platform
Allianz Global Investors has acquired a 51% stake in Green Energy Storage Initiative (GESI), a German battery energy storage platform developing approximately 2.6 GW of large-scale BESS projects across Bavaria and Lower Saxony. Projects are located at strategic transmission grid nodes and are scheduled for commissioning by 2029. This is AllianzGI's second direct equity investment in German battery storage in 2026, following its TotalEnergies partnership announced in March.
Transaction date: · Source: de.allianzgi.com
Key facts
- Transaction date
- Technology
- Battery Storage (BESS)
- Capacity
- 2,600 MW
- Transaction price
- Not disclosed
- Country
- Germany
- Region
- Bavaria, Lower Saxony
- Location
- Multiple sites in Bavaria and Lower Saxony, Germany
- Continent
- Europe
- Development status
- Under Development
- PPA
- n.a.
Technology details
Three large-scale battery energy storage projects across multiple sites in Bavaria and Lower Saxony with a total connected capacity of approximately 2.6 GW. Projects are located at strategically relevant transmission grid nodes, benefiting from existing grid infrastructure at former large-scale power plant sites. Commissioning planned by 2029. GESI also holds an additional project pipeline beyond the three current projects.
Additional information
AllianzGI acquires 51% stake; existing GESI shareholders retain 49%. This is AllianzGI's second direct equity investment in battery storage in Germany, following the partnership with TotalEnergies announced in early March 2026. Seller not disclosed. GESI develops, builds and operates large-scale digitalised battery storage systems providing flexibility to the energy system. Investment made on behalf of Allianz insurance companies. Capacity refers to grid connection capacity in MW.
Source
Original announcement: https://de.allianzgi.com/de-de/ueber-uns/presse/20260423-allianzgi-acquires-51-percent-stake-in-gesi