TotalEnergies SE TTE announced that it would be investing in six battery storage projects. The projects are expected to have a storage capacity of 221 megawatts (MW) and an investment outlay of $172.5 million (€160 million). These will be developed by Kyon Energy, a TotalEnergies affiliate acquired in 2024.
Most of the projects will use next-generation batteries supplied by Saft, a TotalEnergies affiliate and leader in advanced battery technology. Construction has already begun toward the end of 2024, and commissioning is planned for early 2026.
TTE Expands Its Operations in Germany
The initiation of these projects represents a significant turning point in the company's expansion of battery energy storage capacity, where TTE operates the generation, trading, aggregation and commercialization of clean firm power. By reducing congestion and increasing flexibility, this storage capacity will enable TotalEnergies to enhance the resilience of the German power system and accelerate the nation's renewable energy expansion.
These batteries complete the German power portfolio of TotalEnergies, which includes 200 MW1 installed or under construction, 7 gigawatts (GW) of onshore wind and solar in development, 6.5 GW net of offshore wind in development, 2 GW of storage capacity in development, and 321 MW under construction. It also includes 9 GW of electricity aggregation capacity managed by Quadra Energy and 6,900 developed and operated charge points, including 1,100 with high-power charging.
TotalEnergies' Focus on Clean Energy Generation
To reach net zero by 2050, TTE is developing a world-class, cost-competitive portfolio that combines flexible assets like combined-cycle gas turbines and storage with renewable energy sources like solar, onshore and offshore wind. The idea is to provide clean, reliable electricity to its customers.
By the end of 2024, TotalEnergies’ gross renewable electricity generation installed capacity was 26 GW. With further growth, the company plans to produce 35 GW of power by 2025 and more than 100 terawatt-hours of net electricity by 2030.
Other Companies’ Focus on Battery Storage Projects
The market for energy storage has a competitive advantage due to the quickly growing use of clean energy. To meet their clean energy targets, countries worldwide are expanding their energy storage capacity. According to a Markets and Markets report, the global battery energy storage market is projected to reach $25.6 billion by 2029 at a CAGR of 26.9%.
Along with TTE, other companies like Canadian Solar Inc. CSIQ, Emeren Group Ltd. SOL and SolarEdge Technologies Inc. SEDG are likely to benefit from the expanding energy storage market.
In March 2025, CSIQ’s subsidiary inked a Battery Supply Agreement and Long-Term Service Agreement with Strata Clean Energy's White Tank Energy Storage LLC to provide a 100- MW/576 MWh direct-current Battery Energy Storage System in Arizona. The construction of the facility is planned to commence in October 2026. Per the terms of the deal, the unit will supply roughly 120 SolBank 3.0 battery enclosures for the White Tank Battery project, which aims to deliver stored renewable energy to Arizona Public Service.
CSIQ’s long-term (three to five years) earnings growth rate is 25%. The Zacks Consensus Estimate for 2025 earnings per share (EPS) indicates a year-over-year increase of 142.1%.
By the end of the fourth quarter of 2024, Emeren’s total energy storage project pipeline increased to 8,336 MW. As of Dec. 31, 2024, 2.5 GW of Development Service Agreements were under negotiation, indicating a potential revenue pipeline of more than $100 million for Emeren.
The Zacks Consensus Estimate for SOL’s 2025 EPS indicates a year-over-year increase of 116.7%. The Zacks Consensus Estimate for 2025 sales indicates a year-over-year decrease of 8.8%.
In December 2024, SEDG started shipping its new Home Battery USA Edition. It is a next-generation energy optimization system that maximizes energy savings by intelligently managing solar exports during peak rate periods.
SEDG’s long-term earnings growth rate is 26.09%. The Zacks Consensus Estimate for 2025 EPS indicates a year-over-year increase of 86.7%.
TTE’s Stock Price Performance
In the past three months, shares of TotalEnergies have risen 19% compared with the industry’s 11.9% growth.
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TTE’s Zacks Rank
The company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
