ENXTPA:TTEOil and Gas
Is Selling a 50% Stake in German Batteries Altering the Investment Case for TotalEnergies (ENXTPA:TTE)?
TotalEnergies announced it had agreed to sell Allianz Global Investors a 50% stake in 11 German battery storage projects totaling 789 MW–1,628 MWh, representing a €500 million investment in grid-supporting infrastructure that is expected to be fully operational by 2028 and largely financed with 70% debt.
This move deepens TotalEnergies’ role in Europe’s power system by pairing its Kyon Energy development pipeline and Saft’s next-generation batteries with Allianz’s capital, while the company...