Allianz Global Investors (AllianzGI) has announced that it has signed on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund II an agreement for the acquisition of a 50 percent stake in a portfolio of 11 battery storage projects from TotalEnergies with a total capacity of 789 megawatts and 1,628 megawatt hours. With this agreement, the partners will deliver an investment of €500 million ($586 million) in critical energy infrastructure for Germany, of which 70 percent will be financed by the debt.
These 11 projects, located across Germany, have been developed by Kyon Energy, a subsidiary of TotalEnergies and leading German Battery Storage Developer, and all will be operational by 2028. TotalEnergies will remain the operator of the assets.
With these projects, Allianz and TotalEnergies will directly contribute to the resilience of the German power system by reducing grid congestion and providing the flexibility needed to support the rapid
