March 12, 2026: TotalEnergies is selling a 50% stake in 11 of its BESS projects under construction in Germany to Allianz Global Investors under a joint development deal.

Financial details of the transaction were not disclosed, but TotalEnergies said on March 3 the 11 projects represent a total investment of €500 million ($576 million).

All BESS projects will be operational by 2028 and have a total capacity of 789MW/1628MWh.

The 11 projects have been developed by TotalEnergies subsidiary Kyon Energy. Most of them will use next generation batteries supplied by Saft, another TotalEnergies subsidiary, while TotalEnergies will operate all of the facilities.

Stéphane Michel, TotalEnergies’ president of gas, renewables and power, said the deal, which is subject to various regulatory and other conditions, will strengthen the company’s development momentum in Germany, Europe’s largest power market.

Allianz Global Investors is an asset manager in the global Allianz insurance group.

Batteries International reported last May that TotalEnergies and utility RGE were to develop, build and operate a utility-scale solar-BESS facility in Indonesia’s Riau Province.

RGE, a global group of companies in the bio-based resources and energy sectors, is headquartered in Singapore.
The firms entered into a co-investment agreement through their equally-owned joint venture Singa Renewables.