TTE - From Wind To Watts: TotalEnergies Makes Waves In European Offshore With New Buyout & Deal | Benzinga
TotalEnergies SE (NYSE:TTE) disclosed the acquisition of Kyon Energy, a German battery storage developer, for an upfront payment of €90 million, plus some earn-out payments related to the achievement of development targets.
Kyon Energy has 770 MW of projects, of which 120 MW are in operation, 350 MW are under construction, and 300 MW are ready to build.
With the buyout of Kyon, Total Energies will attain these projects, which are mainly based in North Germany.
The acquisition is a part of TotalEnergies’ integrated power strategy and follows 2023’s expansion successes in the country, including a maritime concession award to develop a 3 GW offshore wind farm and the acquisition of the renewable energy aggregator ...