TotalEnergies, via subsidiary Kyon Energy, has launched a targeted process to sell down a 50% stake in a circa 700 MW portfolio of German BESS assets, six months after reaching a deal with Allianz Global Investors for the sale of a circa 50% stake in an initial 800 MW BESS portfolio in the country, it is understood.

The French oil & gas major is working again with financial advisor SocGen on the second deal, following a similar partnership on the first transaction, according to market sources.

TotalEnergies is understood to currently be in the process of taking initial offers for the holding in the 700 MW portfolio, while it is targeting closing a deal by the end of the year.

The group is mooted to have gone out to a small group of investors which were involved in the latter stages of the first German BESS selldown.

Entities such as IFM and Sosteneo were also closely connected to that process, in addition to eventual winner Allianz.

The assets in the portfolio are believed to be set to be sold as ready-to-build, will come with some kind of contracted revenue, and are mooted to be set for commissioning over 2028.

TotalEnergies did not respond to a request for comment.