The projects, with combined capacity of 789MW / 1,628MWh, are under construction across Germany and are expected to become operational by 2028. Around 70% of the capital structure will be financed through debt. The transaction marks AllianzGI's first direct equity investment in a utility-scale battery storage portfolio. The assets were developed by Kyon Energy, a TotalEnergies subsidiary, and TotalEnergies will remain operator. The deal reflects growing institutional appetite for grid-scale storage, as Germany accelerates renewable deployment and seeks greater system flexibility. Battery infrastructure is increasingly viewed as critical to managing grid congestion and balancing intermittent power generation. For TotalEnergies, the transaction allows capital recycling within its integrated power strategy while retaining operational control. For AllianzGI, the investment strengthens its exposure to energy transition infrastructure in its domestic market. Edouard Jozan, Head of Private...
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