TotalEnergies Funds Growth with €500m German Battery Sale and $2.2bn Asian JV
TotalEnergies sold a 50% stake in an 800 MW/1,628 MWh German battery storage portfolio of 11 projects to Allianz Global Investors for €500 million. It also signed a binding $2.2 billion 50/50 joint venture with Masdar targeting 3 GW operational and 6 GW in development across nine Asian countries by 2030.
1. German Battery Portfolio Sale
TotalEnergies agreed to sell half of its 800 MW/1,628 MWh battery storage portfolio in Germany to Allianz Global Investors for approximately €500 million. The portfolio comprises 11 projects currently under construction with expected commercial operation over the next two years, financed and operated through a joint venture between the two firms.
2. Asian Renewable Joint Venture with Masdar
TotalEnergies and Masdar signed a binding agreement to create a $2.2 billion 50/50 joint venture merging their onshore renewable activities across nine Asian countries. The partnership aims to achieve 3 GW of operational capacity and develop an additional 6 GW by 2030, accelerating clean energy deployment in key regional markets.