Watson Farley & Williams (“WFW”) advised TotalEnergies on the financing of a portfolio of eleven battery storage projects in Germany with a total capacity of 789 MW.
Under the financing, a syndicate of ten financial institutions will provide approximately €440m of debt financing for critical energy infrastructure in Germany. The projects, developed by Kyon Energy, a subsidiary of TotalEnergies specialising in large-scale BESS projects, with TotalEnergies remaining the operator of all assets. Most of the projects will deploy next‑generation battery technology provided by Saft, another TotalEnergies subsidiary and a global leader in advanced battery solutions.
This follows TotalEnergies strategic partnership with Allianz Global Investors (“AllianzGI”) for the sale of a 50% stake in the portfolio, on which WFW also advised. With the financing now in place, the transaction has been fully implemented.
With these projects, TotalEnergies and AllianzGI will directly contribute to the resilience of the German power system by reducing grid congestion and providing the flexibility needed to support the rapid growth of renewable energy in Germany.
TotalEnergies is a global integrated energy company, producing and marketing energy sourced from oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. It is active in around 120 countries, placing sustainability at the heart of its strategy, projects and operations.
The cross-border WFW Energy team that advised TotalEnergies was led by Project Finance Partner Dr Stefan Kilgus, supported by Managing Associate Dr Marlene Kowerk and Associate Helena Hopmann. Hamburg Partner Dr Malte Jordan and Managing Associate Muteber Yalcin advised on corporate and commercial law matters. Real estate advice was provided by Hamburg Partner Dr. Sebastian Baum and Senior Associate Josephina Knauf. London Partner Rob McBride and Associate Ambrose Ip provided derivatives expertise, whilst London & Hamburg Partner Maren Brandes and Associate Lukas Markfort advised on English finance law matters. French finance law advice was provided by Paris Partner Laurence Martinez Bellet and Associates Simon Allain and Julie Michelangeli.
Stefan commented: “We are delighted to have advised TotalEnergies on another key milestone for this landmark battery storage portfolio. Advising on both the strategic partnership with Allianz GI and the subsequent financing demonstrates WFW’s ability to provide seamless support across the full lifecycle of complex energy infrastructure transactions. Battery storage will play a critical role in strengthening Germany’s electricity system and enabling the continues expansion of renewables energies”.
