• Project financing for 11 facilities in Germany
• A significant contribution to the integration of renewable energies and the stabilisation of electricity grids

KfW IPEX-Bank is participating in the project financing of a portfolio of battery energy storage systems (BESS) with a total capacity of 789 MW at eleven sites in Germany. The total investment volume for the construction and operation of the portfolio amounts to more than EUR 500 million. The borrower is a joint venture between Allianz and Kyon, the German BESS subsidiary of TotalEnergies.

The battery storage systems provide flexible system services for the German electricity grid, enhance grid stability and enable better integration of wind and solar energy.

“With this financing, we are supporting a large BESS transaction in Germany and underlining our commitment to actively shaping the energy transition and the expansion of sustainable infrastructure,” said Dr Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank. “The portfolio makes a substantial contribution to security of supply and the decarbonisation of the electricity system, and is exemplary of the role that battery storage will play in the future energy system.”