TotalEnergies, a French energy company, has announced today the signing of an agreement to acquire Kyon Energy, one of the top German producers of energy storage systems. The transaction includes an initial payment of 90 million euros and additional payments based on the achievement of development goals.
Kyon Energy, based in Munich and founded in 2021, specializes in the development and operation of grid-connected energy storage systems. The company has already developed projects with a total capacity of 770 MW, including 120 MW that are already operational. They also have 2 GW of advanced projects in their pipeline.
Adrian Kapsalis, CEO of Kyon Energy, said, “This collaboration with TotalEnergies is a key moment for Kyon Energy as we aim to become one of the leading providers of flexibility in Europe. By joining forces, we strengthen our position in the German energy market, contributing to the transformation of the energy system in a more sustainable way.”
Energy storage is becoming a crucial area of investment in the energy transition. Storage is one of the main pillars of the dynamic growth of renewable energy, considering the volatile nature of many renewable energy sources such as wind and solar power, as well as the need to meet round-the-clock energy demand while minimizing waste.
TotalEnergies stated that they will develop, build, and manage Kyon projects primarily in northern Germany as part of their integrated energy strategy. They also highlighted that energy storage systems will help in the flexible management of the German electricity system and support the development of renewable energy.
Stéphane Michel, President Gas, Renewable Energy & Power at TotalEnergies, added, “Acquiring this company, one of the leaders in the market, is a key element of our presence in the German energy market, which is the largest in Europe. This transaction will enable us to accelerate the development of our integrated energy activities in Germany, including production, trading, aggregation, and marketing of low-carbon electricity available 24/7.”
FAQ:
1. What agreement did TotalEnergies announce?
TotalEnergies announced the signing of an agreement to acquire Kyon Energy, a German producer of energy storage systems.
2. What are the details of the transaction?
The transaction includes an initial payment of 90 million euros and additional payments based on the achievement of development goals.
3. What areas does Kyon Energy operate in?
Kyon Energy specializes in the development and operation of grid-connected energy storage systems.
4. What projects have been developed by Kyon Energy?
Kyon Energy has developed projects with a total capacity of 770 MW, of which 120 MW are already operational. The company also has 2 GW of advanced projects in their pipeline.
5. What benefits does energy storage bring?
Energy storage is a crucial area of investment in the energy transition. It is the foundation of renewable energy development, enabling the coverage of round-the-clock energy demand and minimizing waste.
6. How does TotalEnergies plan to utilize Kyon Energy’s technology?
TotalEnergies will develop, build, and manage Kyon Energy projects primarily in northern Germany as part of their integrated energy strategy. Energy storage systems will help in the flexible management of the German electricity system and support the development of renewable energy.
Key Terms/Jargon:
1. Energy storage systems – technologies and solutions used for storing energy and utilizing it at a later time. In the case of renewable energy, storage allows for the storage of excess energy generated during periods of high production and its use during times of lower demand.
2. Pipeline – a term used in the context of projects or investments that are in various stages of development, from advanced plans to implementation.
Related Links:
– totalenergies.de – Official website of TotalEnergies in Germany.
The source of the article is from the blog coletivometranca.com.br