TotalEnergies Invests €160M in Six Battery Storage Projects in Germany

TotalEnergies has announced a significant investment of €160 million in six new battery storage projects in Germany, which will create a total of 221 MW of storage capacity. The projects, developed by Kyon Energy, a subsidiary acquired in 2024, will utilize advanced batteries supplied by Saft, another TotalEnergies affiliate. Construction is set to begin at the end of 2024, with commissioning planned for early 2026. This initiative aims to enhance the resilience of the German power system by alleviating congestion and increasing flexibility, thereby supporting the growth of renewable energy in the country. Patrick Pouyanné, CEO of TotalEnergies, emphasized that these developments are crucial for providing clean power to customers and achieving a targeted 12% profitability in their electricity business. Germany's robust energy storage market presents significant opportunities for TotalEnergies, which is also expanding its portfolio in onshore and offshore wind, electricity aggregation, and electric vehicle charge points.