TotalEnergies Sells 50% of German Battery Portfolio to AllianzGI

TotalEnergies SE agreed to sell a 50% stake in a portfolio of German battery projects to European asset manager Allianz Global Investors as part of a strategy to boost returns from its green-energy investments.

The 11 projects — amounting to 789 megawatts — have been developed by Kyon Energy, a German developer that TotalEnergies bought in 2024. The partners will invest €500 million ($581 million) in the battery systems, which are due to be operational by 2028.