The natural gas power generation industry in the DACH region plays a pivotal role in the energy mix, combining reliability with a transition to cleaner alternatives. Companies involved include energy corporations, private equity firms, and venture capital groups, all focusing on innovative solutions that leverage natural gas for electricity production. As the region moves towards decarbonization, these entities are prioritizing investments in technologies that enhance efficiency and reduce emissions. With energy demand rising and sustainable initiatives gaining traction, the industry's growth points towards a future where natural gas serves as a bridge to more renewable energy sources, helping stabilize the grid.


This list features 13 notable investors in the natural gas power generation sector, highlighting a mix of corporate, venture capital, and private equity firms. Headquartered across Switzerland, Germany, and Austria, these investors range in size from small startups to large multinational corporations. Founded between the mid-1800s and 2000, they reflect a blend of history and modern innovation. In 2024, they collectively executed various investment deals across the industry, showcasing their active role in shaping the future energy landscape and securing credible positions within this essential market.


Top 13 Natural Gas Power Generation Investors in DACH


1. Partners Group

  • Website: partnersgroup.com
  • Type: Private Equity
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative approach and commitment to sustainability. Among their notable transactions, Partners Group acquired ESENTIA Energy Systems for $750 million in 2014, showcasing their interest in energy systems. In 2019, they acquired a 50% stake in EnfraGen, a Latin American power generation platform, which focuses on enhancing grid stability and renewable energy assets. However, a key transaction relevant to natural gas power generation was their acquisition of CapeOmega for nearly €1.2 billion ($1.34 billion), aimed at enhancing natural gas transportation infrastructure from the Norwegian Continental Shelf. This strategic move highlights their involvement in the natural gas sector. Furthermore, their recent acquisition of energy assets valued at $2.2 billion from Avenue's continuation vehicle underscores their active participation in the energy market, which may include natural gas power generation.


2. Mercuria


Mercuria Energy Group Ltd. is an energy trading company based in Geneva, Switzerland, founded in 2004. The company operates globally in the commodity markets, with a focus on crude oil, natural gas, and renewable energy. Mercuria provides trading services and invests in sustainable projects, catering to businesses transitioning to net zero. Notably, Mercuria has been involved in significant transactions within the natural gas sector, including the acquisition of Noble Americas Gas & Power Corp., which enhances their footprint in the natural gas market. Additionally, they have participated in various debt financing activities, such as raising funds for Northwind Midstream Partners and Fervo Energy, which are relevant to the energy sector. Their diverse portfolio and active engagement in natural gas-related transactions position them as a relevant investor in the natural gas power generation industry.


3. Siemens Financial Services


Siemens Financial Services, a corporate investor based in Munich, Bavaria, Germany, specializes in providing financial solutions that support the growth and efficiency of businesses across various sectors, including energy. Founded in 1997, Siemens combines its technological expertise with financial services to enable digital transformation and sustainability. In 2024, they were involved in several significant transactions relevant to the energy sector, including a $550 million debt financing for Clearway Energy Group, which is known for its renewable energy projects, and a $190 million debt financing for Aypa Power, a company focused on energy infrastructure. These transactions highlight Siemens Financial Services' commitment to supporting energy projects, including those that may involve natural gas power generation, thereby positioning them as a relevant investor in this category.


4. Rwe

  • Website: rwe.com
  • Type: Corporate
  • Headquarters: Essen, North Rhine-Westphalia, Germany
  • Founded year: 1898
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: rwe-

RWE is a corporate energy company based in Essen, North Rhine-Westphalia, Germany, founded in 1898. It specializes in both renewable and conventional energy solutions, providing a wide range of services that include energy generation from wind, solar, and hydropower, as well as project management and engineering services. RWE serves municipalities, industrial partners, and utilities, assisting them in transitioning to sustainable energy sources and effectively managing their energy needs. Notably, RWE has been involved in significant transactions, including the acquisition of Con Edison Clean Energy Businesses, which bolstered their renewable portfolio in the U.S. However, they also have a history in the natural gas sector, highlighted by their stake in Innogy's gas storage businesses, which indicates their ongoing involvement in natural gas power generation. This dual focus on renewables and gas positions RWE as a versatile investor in the energy landscape.


5. Extantia

  • Website: extantia.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2020
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: beyond-black-capital

Extantia is a Berlin-based venture capital firm founded in 2020, specializing in climate technology and sustainability. The firm is dedicated to investing in innovative solutions aimed at carbon reduction and provides consulting services on ESG practices. Extantia supports entrepreneurs and investors in the climate tech sector, facilitating the transition to a sustainable economy. Notably, Extantia has participated in significant funding rounds for companies like Reverion, which focuses on biogas power plants, raising substantial amounts in various funding stages, including a recent Series A round of approximately $62 million. This involvement in biogas production highlights Extantia's engagement in the energy sector, particularly in renewable energy solutions that intersect with natural gas power generation.


6. Basf

  • Website: basf.com
  • Type: Corporate
  • Headquarters: Ludwigshafen, Rhineland-Palatinate, Germany
  • Founded year: 1865
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: basf

BASF SE is a multinational chemical manufacturer based in Ludwigshafen, Germany, founded in 1865. The company provides a wide range of products and solutions across various industries, including agriculture, automotive, and construction, with a strong focus on innovation and sustainability. In 2011, BASF acquired a 50% stake in Zandvliet Power NV from RWE, a joint venture that enhances its energy independence and efficiency at its Antwerp site. This acquisition reflects BASF's strategic interest in the energy sector, particularly in natural gas power generation. Additionally, BASF's acquisition of Wintershall Group in 2008 further emphasizes its commitment to energy-related ventures, as Wintershall is involved in oil and gas exploration and production. These transactions highlight BASF's engagement in the energy market, particularly in relation to natural gas power generation.


7. Omv

  • Website: omv.com
  • Type: Corporate
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 1956
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: omv

OMV is an integrated oil, gas, and petrochemical company based in Vienna, Austria, founded in 1956. With over 10,000 employees, OMV operates in both upstream and downstream sectors, providing oil, gas, and petrochemical products. The company has made significant investments in the natural gas sector, including the acquisition of a 51% stake in SNP Petrom SA, Romania's largest oil and gas company, which has enhanced its production capabilities and reserves. Furthermore, OMV's agreement to acquire 24.99% of the economic rights in the Yuzhno Russkoye field from Uniper for USD 1,850 million underscores its strategic focus on natural gas resources. OMV is also investing in innovative technologies, as seen in its involvement with Eavor Technologies Inc., a geothermal technology developer, which reflects its commitment to sustainability and reducing carbon emissions while maintaining a strong presence in the natural gas market.


8. UVC Partners


UVC Partners is a venture capital firm based in Munich and Berlin, specializing in investing in B2B startups across Europe. Founded in 2011, the firm provides financial support and strategic guidance to early-stage companies, helping them grow in competitive markets. Their portfolio includes a diverse range of innovative startups in various sectors. Notably, UVC Partners has been involved in significant transactions such as Reverion, a German climate tech startup that raised €8.5 million to accelerate the production of biogas power plants, and later raised $62 million in a Series A round. This involvement highlights UVC Partners' commitment to supporting companies in the renewable energy space, particularly those focused on biogas, which is closely related to natural gas power generation. Additionally, their investment in Proxima Fusion, which is developing fusion power technology, showcases their interest in innovative energy solutions, further emphasizing their relevance in the energy sector.


9. Bosch

  • Website: bosch.com
  • Type: Corporate
  • Headquarters: Birenbach, Baden-Württemberg, Germany
  • Founded year: 1886
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: bosch

Robert Bosch GmbH is a multinational engineering and technology company based in Birenbach, Baden-Württemberg, Germany. Founded in 1886, Bosch offers a diverse range of products and services across mobility, consumer goods, industrial technology, and energy solutions. The company is committed to sustainability and enhancing quality of life through its innovative technology solutions. Notably, Bosch acquired over 99% of ELM-Leblanc, a prominent European manufacturer of gas wall-mounted boilers, in 1996, which highlights its involvement in the natural gas sector. This acquisition aligns with Bosch's strategy to expand its energy solutions portfolio, particularly in technologies that utilize natural gas. Additionally, Bosch has been involved in various other transactions, such as acquiring business operations in electric drive units and steering systems, showcasing its broad investment strategy across multiple sectors.


10. Verbund

  • Website: verbund.com
  • Type: Corporate
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 1947
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: verbundag

VERBUND is an energy company based in Vienna, Austria, specializing in electricity generation and services. Founded in 1947, the company has a workforce of 1001-5000 employees and focuses on sustainable energy solutions, including hydropower, wind, and solar power. In addition to its renewable energy initiatives, Verbund has made strategic investments in the natural gas sector, notably acquiring a 51% stake in Gas Connect Austria GmbH for EUR 271 million. This acquisition highlights Verbund's commitment to diversifying its energy portfolio and engaging in the natural gas market. Furthermore, Verbund has been active in expanding its renewable energy assets, as seen in its acquisition of wind power plants in Spain and other renewable projects, but its involvement in natural gas through Gas Connect Austria positions it as a relevant player in the natural gas power generation industry.


11. b2venture

  • Website: b2venture.vc
  • Type: Venture Capital
  • Headquarters: St. Gallen, St. Gallen, Switzerland
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: btovpartners

b2venture is a venture capital firm based in St. Gallen, Switzerland, founded in 2000. The firm specializes in early-stage investments in innovative startups across various sectors, providing financial backing and support to entrepreneurs. They collaborate with a community of angel investors, enhancing their investment strategy and positioning them as a key player in the European venture capital landscape. Notably, b2venture has been involved in transactions related to Electrochaea, a startup that focuses on producing synthetic natural gas from hydrogen and carbon dioxide. Their investment in Electrochaea during its Series A and Series D funding rounds highlights their commitment to supporting technologies that contribute to the natural gas sector. Additionally, their involvement in other innovative energy-related startups, such as Marvel Fusion and Orus Energy, showcases their broader interest in the energy landscape, further solidifying their relevance in the natural gas power generation context.


12. Allianz X

  • Website: allianzx.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: allianzx

Allianz X is a corporate venture capital firm based in Munich, Bavaria, Germany, founded in 2016. It specializes in investing in digital growth companies within the insurtech and fintech sectors, providing strategic support and capital to help these companies scale their operations. In addition to its primary focus, Allianz X has also engaged in significant transactions in the natural gas sector. Notably, it was part of a consortium that acquired a 61% stake in National Grid Gas Distribution through the Quad Gas Group, and it acquired a 49% stake in Gas Connect Austria for €601 million. These investments highlight Allianz X's involvement in the natural gas infrastructure, which is integral to power generation, thereby expanding its investment portfolio beyond just digital sectors.


13. Axpo Group

  • Website: axpo.com
  • Type: Corporate
  • Headquarters: Baden, Aargau, Switzerland
  • Founded year: 1914
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: axpo-group

Axpo Group, founded in 1914 and based in Baden, Aargau, Switzerland, is a corporate investor specializing in the production, distribution, and trading of electricity. The company operates both domestically and internationally, providing innovative energy solutions and risk management services to a diverse clientele. Axpo is committed to sustainability and the transition to renewable energy sources. In recent years, Axpo has expanded its portfolio through strategic acquisitions, including the acquisition of MetanAlpi in January 2023, which signifies their active role in the natural gas sector. Additionally, they have invested in renewable energy projects, such as the acquisition of the German wind developer Volkswind, which showcases their commitment to diversifying their energy investments. Their involvement in both natural gas and renewable energy positions them as a significant player in the energy market.



Natural Gas Power Generation Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Partners GroupBaar, Zug, Switzerland1001-5000199619
MercuriaGeneva, Geneva, Switzerland1001-500020047
Siemens Financial ServicesMunich, Bavaria, Germany1001-5000199715
RweEssen, North Rhine-Westphalia, Germany10001+18983
ExtantiaBerlin, Berlin, Germany11-5020206
BasfLudwigshafen, Rhineland-Palatinate, Germany10001+18651
OmvVienna, Vienna, Austria10001+19563
UVC PartnersGarching, Bavaria, Germany11-50201115
BoschBirenbach, Baden-Württemberg, Germany10001+18865
VerbundVienna, Vienna, Austria1001-500019472
b2ventureSt. Gallen, St. Gallen, Switzerland11-50200015
Allianz XMunich, Bavaria, Germany11-5020166
Axpo GroupBaden, Aargau, Switzerland5001-1000019141


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