REG-TotalEnergies SE Germany: TotalEnergies Acquires Kyon Energy, a Leading German Battery Storage Developer

TotalEnergies SEAnnouncement

23/01/2024 07:45

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Germany: TotalEnergies Acquires Kyon Energy, a Leading German Battery Storage
Developer

 

As part of its development as an integrated power player in Germany,
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an agreement to
acquire from its three founders the entire share capital of Kyon Energy, one
of the leading developers of battery storage systems in the country. The
consideration consists of a €90 million upfront payment, plus some earn out
payments linked to the achievement of development targets.

Since its creation in 2021, Kyon Energy has developed 770 MW of projects with
very competitive connection costs of which 120 MW are already in operation,
350 MW are under construction and 300 MW are ready to build. In addition, Kyon
Energy’s portfolio includes a 2 GW pipeline of advanced-stage projects.

Thanks to the expertise of Kyon Energy’s management and employees,
TotalEnergies will develop, build, and operate those projects, mainly located
in the North of Germany, as part of its integrated power strategy. This new
acquisition follows 2023 successes in the country – including the award of a
maritime concession to develop a 3 GW offshore wind farm
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftotalenergies.com%2Fmedia%2Fnews%2Fpress-releases%2Ftotalenergies-wins-two-maritime-leases-develop-two-giga-offshore-wind&esheet=53886662&newsitemid=20240123603795&lan=en-US&anchor=3+GW+offshore+wind+farm&index=1&md5=0c12fe97585c331bf691f05c22cc8eac)
, the acquisition of the renewable energy aggregator Quadra Energy
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftotalenergies.com%2Fmedia%2Fnews%2Fpress-releases%2Fgermany-totalenergies-pursues-its-integrated-power-strategy-acquiring&esheet=53886662&newsitemid=20240123603795&lan=en-US&anchor=Quadra+Energy&index=2&md5=0688e533b00c8724cbd81784ef6cc8ba)
and the award of a contract to install and operate 1,100 high-power charge
points
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftotalenergies.com%2Fmedia%2Fnews%2Fpress-releases%2Fgermany-totalenergies-will-install-and-operate-1100-high-power-ev-charge&esheet=53886662&newsitemid=20240123603795&lan=en-US&anchor=1%2C100+high-power+charge+points&index=3&md5=2bfbd968a0b57f4d7593ecae2762d304)
for electric vehicles – and is further strengthening TotalEnergies ability
to offer reliable and competitive power to its German customers.

The battery storage system will contribute to the resilience of the German
electricity system, help solving congestion problems or providing additional
flexibility to the German power grid, and ultimately support the rapid
expansion of renewable energies in Germany

"I would like to welcome the Kyon Energy teams to TotalEnergies. The
acquisition of this company, one of the leaders in its market, is a key
element in our presence in the German electricity market, which is the largest
in Europe,” said Stéphane Michel, President Gas, Renewables & Power at
TotalEnergies. "This acquisition will enable us to accelerate the development
of our Integrated Power activities in Germany, both in production, trading,
aggregation and marketing of low-carbon electricity available 24 hours a day.
It also contributes to our profitability target for this business segment of
12% ROACE by 2028."

"This partnership with TotalEnergies represents a key moment for Kyon Energy,
as we aim to become one of Europe's leading flexibility providers. By joining
forces, we are consolidating our position in the German electricity market,
and thus making a direct contribution to its transition to a more sustainable
system", said Adrian Kapsalis, CEO of Kyon Energy.

The acquisition remains subject to authorization by the relevant authorities.

***

TotalEnergies and electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a world class cost-competitive portfolio combining renewables (solar, onshore
and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm
power to its customers. At the end of 2023, TotalEnergies’ gross renewable
electricity generation installed capacity was 22 GW. TotalEnergies will
continue to expand this business to reach 35 GW in 2025 and more than 100 TWh
of net electricity production by 2030.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in nearly 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

TotalEnergies Contacts

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

@TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergies&esheet=53886662&newsitemid=20240123603795&lan=en-US&anchor=%40TotalEnergies&index=5&md5=06436fce3d9c48d4a6867f03160e9ac9)
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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).



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