MEAG Expands Energy Portfolio with German Battery Acquisition

• Munich Re expands its renewable energy footprint with a 130-MW battery acquisition in Germany, boosting total storage capacity to 222.5 MW.

MEAG, the asset manager for Munich Re, has agreed to acquire a 130-MW/354-MWh battery energy storage system (BESS) project in North Rhine-Westphalia, Germany, from SMA Altenso GmbH, a subsidiary of SMA Solar Technology AG. The financial terms of the transaction were not disclosed. The Hoxter Battery Park is expected to commence operations in the first quarter of 2027, with SMA Altenso serving as the general contractor and operational service provider.

This acquisition marks Munich Re's second BESS asset, following the 92.5-MW Metelen battery acquired in 2024, also from SMA Altenso. The purchase increases Munich Re's total battery storage capacity to 222.5 MW/585 MWh, enhancing its renewable energy portfolio.

What impact will MEAG's acquisition have on Munich Re's renewable energy portfolio?

• Strengthens Munich Re's position in the renewable energy sector by expanding its battery storage capacity.
  
• Enhances the company's ability to support grid stability and integrate more renewable energy sources.
• Diversifies Munich Re's renewable energy investments, reducing reliance on traditional energy sources.
  
• Positions Munich Re as a key player in the energy transition, aligning with global sustainability goals.
  
• Provides potential for increased revenue streams from energy storage services.
  
• Demonstrates Munich Re's commitment to innovation and leadership in renewable energy technologies.
• Enhances the company's reputation as a forward-thinking and environmentally responsible organization.