Watson Farley & Williams (“WFW”) advised TotalEnergies on its strategic partnership with Allianz Global Investors (“AllianzGI”) for the sale of a 50% stake in a portfolio of eleven battery storage projects in Germany with a total capacity of 789 MW.
With this agreement, the partners will deliver an investment of €500m in critical energy infrastructure for Germany. The projects, developed by Kyon Energy, a subsidiary of TotalEnergies specialising in large-scale BESS projects, will be operational by 2028 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.
With these projects, TotalEnergies and AlianzGI 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.
AllianzGI is a leading active asset manager with more than 700 investment professionals in 21 offices worldwide and manages €591bn in assets.
The WFW Germany Energy team that advised TotalEnergies was led by Corporate Partner Dr Malte Jordan, supported by Managing Associate Muteber Yalcin. Hamburg Partner Dr Stefan Kilgus, Managing Associate Dr Marlene Kowerk and Associate Helena Hopmann provided financing expertise. Regulatory advice was provided by Hamburg Partner Dr F. Maximilian Boemke and Associates Dr Ruwen Fritsche and Leonard Wolckenhaar. Hamburg Partner Dr Christine Bader advised on merger control aspects of the transaction. Tax advice was provided by Frankfurt Counsel Manuel Rustler, whilst Hamburg Partner Dr Sebastian Baum and Associate Josephina Knauf provided real estate expertise.
Malte commented: ‘“We are delighted to have advised TotalEnergies on this important strategic partnership in Germany’s increasingly sophisticated power market. Large‑scale storage assets are essential to enhancing grid resilience and enabling the continued growth of renewable generation, particularly in a market as central and fast‑developing as Germany. This transaction highlights WFW’s longstanding expertise in advising on complex energy and infrastructure projects across Europe, and we are proud to work with TotalEnergies as it advances its integrated power strategy”.
