TotalEnergies has signed an agreement to acquire the entire share capital of Kyon Energy, one of Germany's leading developers of battery storage systems, from its three founders.

This acquisition, which remains subject to the approval of the relevant authorities, is being made in return for an initial payment of 90 million euros, plus earn-outs linked to the achievement of development targets.

Since its creation in 2021, Kyon Energy has developed 770 MW of projects, of which 120 MW are already operational, 350 MW under construction and 300 MW ready for construction. In addition, Kyon's portfolio contains 2GW of projects, which are at an advanced stage of development.

Thanks to Kyon Energy's expertise, TotalEnergies will develop, build and operate storage capacities that will contribute to the resilience of the German power system and promote the rapid growth of renewable energies in the country.

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