TagEnergy and Banque des Territoires Form Alliance to Increase Battery Storage Projects in France

TagEnergy, a leading renewable energy company and the force behind France's largest battery storage project, has partnered with Banque des Territoires in a new three-year investment agreement to increase battery energy storage in the country.

The partnership aims to finance necessary storage infrastructure for maximizing the use of clean electricity, regulating peak demand hours, and making the national power grid more resilient.

The first project under this deal is the 240MW/480MWh battery plant in Cernay-lès-Reims, which is in the Marne department. Banque des Territoires has taken a 49% stake in the project, which is a major milestone towards speeding up the development of large-scale storage capacity in France.

Powering the Energy Transition with Advanced Storage Solutions

TagEnergy is moving swiftly to expand its solar and battery storage projects as part of its overall growth strategy. Its flagship Cernay-lès-Reims project will be a key part of France's shift to renewable energy, providing additional flexibility to balance electricity supply and demand across the country.

This partnership with Banque des Territoires complements TagEnergy's innovative financing model, bringing ambitious storage projects into productive reality.

With a long-standing dedication to France's green transition, Banque des Territoires is accelerating its backing of the battery storage market.

Present in this area since 2021, the bank is looking to accelerate its investments to contribute to the development of a sustainable, carbon-free electricity sector. This collaboration is highly aligned with the bank's strategic priorities to support the installation of renewable power and associated infrastructure.

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Increasing Grid Flexibility and Lowering Fossil Fuel Dependence

Franck Woitiez, CEO and Chairman of TagEnergy, said, "Franck Woitiez, Chairman and CEO of TagEnergy, said, “We are extremely proud to partner with Banque des Territoires, a leading player in financing the energy transition. This strategic partnership is perfectly in line with our common vision of strengthening French energy sovereignty. By working closely together, we will be able to develop innovative storage solutions that are essential for a sustainable and decarbonised energy future.”

The collaboration enables Banque des Territoires to play a central role alongside TagEnergy in meeting the pressing demand for energy flexibility. By providing 49% of the capital used to set up the project-specific companies, Banque des Territoires will be financing assets essential to match variable renewable production with fluctuating energy demand. TagEnergy, with majority ownership, will ensure continuity of its operating vision.

The Cernay-lès-Reims battery plant is on the verge of being a game-changer, providing storage space almost five times bigger than any current stationary battery in France.

To be ready by the end of 2025, the project will have the capacity to deliver energy storage equivalent to around 20% of the domestic electricity use in the Marne department, where more than 500,000 people live.