Totalenergies to Invest in German Storage

Wedoany.com Report-Mar 27, TotalEnergies has made investment decisions for six battery storage projects in Germany, totalling 221MW of new capacity and an outlay of €160m.

These projects were developed by Kyon Energy, which TotalEnergies acquired in 2024, and will mainly use latest-generation batteries supplied by Saft, a subsidiary of the oil and gas giant.

Construction began at the end of 2024 and the projects will be commissioned in early 2026.

Patrick Pouyanné, chairman and chief executive of TotalEnergies, said: "We are delighted with this significant step forward in the development of our integrated electricity business in Germany, Europe's largest electricity market.

"The implementation and integration of all these battery projects will allow us to provide green electricity to our customers 24 hours a day and will thus directly contribute to the achievement of our target of 12% profitability in this business."