- TotalEnergies acquires Kyon Energy for €90 million upfront plus earn-out payments.
- Kyon Energy has developed 770 MW of projects, with 120 MW operational, 350 MW under construction, and 300 MW ready to build.
- Kyon Energy's portfolio includes a 2 GW pipeline of advanced-stage projects.
- The acquisition is subject to authorization by relevant authorities.
Acquisition Details
TotalEnergies has signed an agreement to acquire the entire share capital of Kyon Energy, a leading German battery storage developer, for €90 million upfront plus earn-out payments linked to development targets.
Kyon Energy's Achievements
Since its inception in 2021, Kyon Energy has developed 770 MW of projects, with 120 MW already operational, 350 MW under construction, and 300 MW ready to build. Additionally, Kyon Energy has a 2 GW pipeline of advanced-stage projects.
Strategic Integration
TotalEnergies plans to leverage Kyon Energy’s expertise to develop, build, and operate these projects, primarily in Northern Germany, as part of its integrated power strategy. This acquisition complements TotalEnergies' recent successes in Germany, including a 3 GW offshore wind farm concession, the acquisition of renewable energy aggregator Quadra Energy, and a contract to install 1,100 high-power EV charge points.
Impact on German Power Grid
The battery storage systems will enhance the resilience of the German electricity system by addressing congestion issues and providing additional flexibility, thereby supporting the rapid expansion of renewable energies in Germany.
Regulatory Approval
The acquisition is subject to authorization by the relevant authorities.
