Published by Global Banking & Finance Review®
Posted on March 3, 2026
2 min readLast updated: April 2, 2026
Add as preferred source on GoogleAllianz Global Investors will acquire a 50% stake in 11 German battery storage projects under construction from TotalEnergies. The 800 MW portfolio, costing €500 million (approx. $583 million), is expected to be operational by 2028.
By America Hernandez
BERLIN, March 3 (Reuters) - French oil major TotalEnergieshas sold a 50% stake in 11 battery projects under construction in Germany to Allianz Global Investors , the companies said on Tuesday, as interest grows in Germany's fast-growing renewables market.
The companies did not disclose the value of the transaction.
To finish construction of the projects, the pair will invest 500 million euros ($581 million), 70% of which will be financed by debt, they said.
The projects comprise 789 megawatts and will be operational by 2028.
In its bid to build 100 gigawatts of gross installed renewable capacity by 2030, Total has focused on Germany, Europe's largest power market, as a priority.
It purchased several German battery developers in the belief they will be increasingly needed to balance electricity grids by storing excess renewable production when there is too much wind or sun, then re-supplying it when demand is high.
TotalEnergies has also been regularly selling 50% stakes in renewable assets at a profit once it has invested in building them, and confirmed on Tuesday this was also the case for its battery projects.
"In line with our business model, this transaction enables us to optimize our capital allocation in our integrated power activities and helps improve the sector's profitability," Stephane Michel, Total's president of gas, renewables and power, said in a statement.
Allianz, which has previously invested in wind and solar farms as well as green hydrogen, said this was its first direct equity commitment to a portfolio of battery storage projects.
"The shift to cleaner energy depends on strong infrastructure... These eleven projects across Germany will help reinforce the country's energy resilience, accelerate the energy transition, and deliver long-term value for our clients," Edouard Jozan, head of private markets at Allianz GI, said in a statement.
The projects are being built by Kyon Energy using batteries by Saft, both subsidiaries of TotalEnergies, which will operate the sites.
($1 = 0.8604 euros)
(Reporting by Linda Pasquini and America Hernandez; Editing by Thomas Seythal and Emelia Sithole-Matarise)
Allianz Global Investors acquired a 50% stake in 11 battery storage projects in Germany.
TotalEnergies sold the 50% stake in the German battery storage projects to Allianz GI.
The 11 projects represent a total investment of 500 million euros and a combined capacity of 800 megawatts.
All projects are expected to be operational by 2028.
The battery storage projects are being developed in Germany.
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