French energy company TotalEnergies SE has entered into an agreement with Allianz Global Investors (AllianzGI) to sell 50% of shares in 11 battery projects in Germany. This is reported in the TotalEnergies press release.
Allianz insurance subsidiaries and Allianz European Infrastructure Fund II act as buyers of Totalenergy's assets in the portfolio of German battery production projects in line with Totalenergy's strategy to increase the profitability of investments in clean energy.
As part of the deal, TotalEnergies and AllianzGI will invest 500 million euros ($581 million) in battery projects that are expected to be operational by 2028. 70% of the payments will be financed through debt financing. At the same time, TotalEnergies will remain the operator of German assets.
These 11 projects with a total capacity of 800 MW under construction were developed by the German company Kyon Energy, which TotalEnergies acquired in 2024.
Saft, a subsidiary of TotalEnergies, will supply new generation batteries for installations within the framework of the projects. The transaction is subject to regulatory approval.
The deal aims to optimize the business model and capital allocation of TotalEnergies' integrated energy operations in order to strengthen its position in Germany, Europe's largest energy market. TotalEnergies is actively involved in many aspects of the energy sector, including the development of renewable energy projects that ensure a stable supply of low-carbon electricity in the German market.
Germany is among the European countries accelerating the introduction of batteries, taking into account the growth of renewable generation, which often leads to an overload of the energy system. The declining cost of batteries and the increasing volatility of electricity prices strengthen the economic position of operators who can use systems to accumulate excess energy and sell it in case of supply disruptions.
In addition, in January 2026, TotalEnergies signed an agreement to provide 800 GWh of electricity from renewable sources for ten years to three SWM plants in France.
TotalEnergies SE is a French multinational oil and gas company and one of the world's largest energy companies after Royal Dutch Shell, BritishPetroleum and ExxonMobil. TotalEnergie operates 3,000 service stations that serve 1 million customers and 6 million consumers of electricity and gas every day. The headquarters is located in Paris (France) with offices in 120 countries.
Allianz SE is the largest German insurance company. Allianz is on the list of systemically important companies for the global economy. The company provides services in the field of risk and cumulative insurance, asset management and banking. The headquarters is located in Munich (Germany) with offices in 70 countries and a staff of 150,000 employees.
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