TotalEnergies to sell 50% of 11 German battery projects to AllianzGI

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 essenti ...