TotalEnergies is understood to have selected a winning bidder for a circa 50% stake in a circa 800 MW tranche of its German battery storage portfolio held through subsidiary Kyon Energy.

The group ran a process for the holding through H2 2025 and was in a final dialogue with a pair of bidders through the early part of Q1, according to market sources. It has since selected Allianz Capital Partners as its preferred bidder in recent days, it is understood.

TotalEnergies, which purchased Kyon in an initial EUR 90m deal in 2024, announced in late March 2025 that it had taken a final investment decision to construct six German BESS projects totalling 221 MW in installed capacity at an investment cost of EUR 160m.

Most of the projects in the 221 MW portfolio will use batteries supplied by advanced battery technology affiliated Saft

Construction on the initial 221 MW portfolio began at the end of 2024, while commissioning is planned for early 2026.

In total, Kyon now has 1 GW of BESS under-construction, 1.7 GW ready for construction and a 7 GW pipeline.

SocGen is acting as sellside M&A advisor on the transaction, and is also overseeing the raising of a staple finance package for the acquirer of the 50% stake.

Allianz Capital Partners declined to comment. Kyon Energy did not respond to a request for comment.

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