TotalEnergies to sell Allianz 50% of some storage projects

TotalEnergies to sell Allianz 50% of some storage projects

TotalEnergies to Sell 50% Stake in Renewable and Storage Projects to Strategic Partners

TotalEnergies continues to execute its capital recycling strategy by divesting non-core renewable and storage assets to optimize capital allocation and enhance the profitability of its Integrated Power business. While the company has not disclosed a specific transaction involving Allianz, recent announcements highlight similar partnerships with institutional investors to unlock value from newly commissioned projects.

In December 2024, TotalEnergies sold a 50% stake in a 2 GW solar and battery energy storage systems (BESS) portfolio in Texas to Apollo, generating $800 million in proceeds. The portfolio includes three solar projects (1.7 GW) and two BESS projects (300 MW), with TotalEnergies retaining operational control. This aligns with the company's strategy to divest up to 50% of renewable assets post-commercial operation to maximize returns while maintaining strategic oversight.

Similarly, in September 2025, TotalEnergies partnered with KKR to sell a 50% stake in a 1.4 GW North American solar portfolio for $1.25 billion, with $950 million in proceeds secured. The transaction included six utility-scale solar assets and 41 distributed generation projects. TotalEnergies emphasized that such partnerships enable risk mitigation and value capture from derisked assets.

The company's Integrated Power model combines renewables (solar, wind) and flexible assets (gas, storage) to deliver clean, reliable power. By retaining operator roles post-divestment, TotalEnergies maintains commercialization rights and operational expertise. For instance, in Portugal, the company sold a 50% stake in a 604 MW wind, solar, and hydro portfolio but retained operational control and future production rights.

TotalEnergies aims to develop 5–7 GW of battery storage capacity by 2030, leveraging subsidiaries like Kyon Energy and Saft for technological expertise. These transactions underscore the company's focus on balancing growth in renewables with strategic capital efficiency, reinforcing its position as a leading integrated energy player in Europe and North America.

(https://totalenergies.com/news/press-releases/integrated-power-renewables-totalenergies-implements-its-strategy-capital): TotalEnergies, "Integrated Power & Renewables" (Dec 2024)
(https://totalenergies.com/news/press-releases/renewables-totalenergies-divests-50-14-gw-solar-portfolio-north-america): TotalEnergies, "Renewables: TotalEnergies Divests 50% of 1.4 GW Solar Portfolio" (Sep 2025)
(https://totalenergies.com/news/press-releases/line-its-business-model-totalenergies-selling-50-portfolio-renewable-assets): TotalEnergies, "In Line With its Business Model..." (Jul 2025)
(https://totalenergies.com/features/our-battery-based-energy-storage-projects-and-achievements): TotalEnergies, "Our Battery-Based Energy Storage Projects" (n.d.)