TotalEnergies to invest $173M in battery storage in Germany
The six new battery storage projects totalling 221 megawatts will be commissioned next year and supplied by Total’s German subsidiaries SAFT and Kyon Energy.
French oil firm TotalEnergies is investing 160 million euros (about USD 173 million) in six new battery storage projects totalling 221 megawatts in Germany.
The projects, to be commissioned next year, will be supplied by Total’s German subsidiaries SAFT and Kyon Energy.
“We are delighted with this significant step forward in the development of our integrated power activities in Germany, Europe’s largest electricity market,” said TotalEnergies CEO Patrick Pouyanne. “The implementation and integration of all these battery projects will allow us to supply our customers with clean firm power, contributing directly to our targeted 12% profitability in this activity.”
Total, which acquired German renewable developer VSB in December, has operations in German power production, trading, aggregation and commercialization.
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers.
“By the end of 2024, TotalEnergies’ gross renewable electricity generation installed capacity had reached 26 GW,” the company said. “TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 TWh of net electricity production by 2030.”
