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0.00063067608476283 -0.000882946518667926 6.30676084764085E-05 -0.00107214934409679 0.00239656912209886 0.00542381432896073 -0.00542381432896055 -0.00554994954591319
Stock impact report

TotalEnergies to sell 50% of 11 German battery projects to AllianzGI [Yahoo! Finance]

TotalEnergies SE Ordinary Shares (TTE) 
Company Research Source: Yahoo! Finance
TotalEnergies has agreed to divest a 50% stake in 11 battery storage projects in Germany, with a combined capacity ranging from 789MW to 1.63 gigawatt-hours (GWh), to Allianz Global Investors (AllianzGI). The acquisition is on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund II, said AllianzGI. The transaction is pending customary regulatory approvals and conditions before it can be finalised. Under the agreement, the partners will invest €500m in the country's essential energy infrastructure, with 70% of the funding coming from debt financing. These projects are expected to be fully operational by the year 2028. Currently under construction across various locations in Germany, the projects were developed by Kyon Energy, a subsidiary of TotalEnergies. Saft, another TotalEnergies subsidiary, will supply the next-generation batteries for most of these installations. TotalEnergies gas, renewables and power president Stéphane Michel said: “ Show less Read more
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