The electric power industry in DACH (Germany, Austria, and Switzerland) plays a crucial role in European energy sustainability. It features companies engaged in various segments, including fossil fuels, renewables, grid management, and energy storage solutions. Major players are shifting momentum toward decarbonization, with investments flourishing in wind, solar, and hydroelectric power. As nations commit to ambitious climate targets, the sector is increasingly focusing on innovative technologies and smart solutions. With a favorable regulatory climate, DACH is evolving into a hotbed for energy transition initiatives, offering ripe opportunities for investors.


This article presents an analysis of 15 notable investors in the electric power sector across DACH. These investors range from corporate giants like Siemens and RWE to dynamic venture capital firms such as eCAPITAL and Future Energy Ventures. With headquarters in key cities like Munich, Essen, and Berlin, these firms collectively represent a broad spectrum of investment strategies. Sizing from small enterprises to large corporations, they completed a significant number of transactions in 2024. This snapshot reveals not just their investment appetite but also the robust growth potential within this critical industry.


Top 15 Electric Power Investors in DACH


1. Siemens

  • Website: siemens.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 1847
  • Headcount: 10001+
  • Number of deals in 2024: 11
  • LinkedIn: siemens

Siemens AG, founded in 1847 and headquartered in Munich, Bavaria, Germany, is a prominent technology conglomerate specializing in various sectors, including industrial automation, energy solutions, rail transport, and health technology. With a workforce of approximately 320,000 employees, Siemens generates substantial revenue and operates globally. In the electric power context, Siemens has been actively involved in several key transactions. Notably, they acquired Shaw Power Technologies Inc., enhancing their capabilities in power transmission and distribution, particularly with the integration of PTI's PSS/E software for network planning. Additionally, Siemens has participated in significant debt financing rounds for companies like Strata Clean Energy and Statera Energy, raising substantial amounts to support clean energy initiatives. These activities underscore Siemens' commitment to advancing electric power solutions and sustainability.


2. Deutsche Bank

  • Website: db.com
  • Type: Corporate
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1870
  • Headcount: 10001+
  • Number of deals in 2024: 32
  • LinkedIn: deutsche-bank

Deutsche Bank AG is a prominent investment bank and financial services provider based in Frankfurt, Hesse, Germany. Founded in 1870, the bank offers a wide range of solutions including investment banking, corporate banking, cash management, trade finance, and securities services. It serves corporate and institutional clients, helping them manage their financial assets and liquidity effectively through its digital platform, Autobahn. In recent years, Deutsche Bank has been actively involved in the electric power sector, participating in significant debt financing transactions. Notably, it helped Iberdrola raise approximately $935 million in post-IPO debt in July 2023, and facilitated Greenko Group's $940 million debt financing in March 2021. Additionally, Deutsche Bank was involved in multiple rounds of debt financing for Origis Energy, totaling over $1 billion, and supported Adani New Industries in securing $394 million for its solar module manufacturing facility. These transactions highlight Deutsche Bank's commitment to investing in the electric power industry, particularly in renewable energy projects.


3. 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. In recent years, Partners Group has made significant strides in the electric power sector, particularly in renewable energy. Notable transactions include the acquisition of a 50% stake in EnfraGen, a Latin American power generation platform, which aims to enhance grid stability and expand renewable energy operations. Additionally, the firm acquired a majority stake in Sunsure Energy, a renewable energy company in India, with plans to transform it into an independent power producer with 3 GW of operational capacity. These strategic investments highlight Partners Group's focus on the electric power industry and its commitment to sustainable energy solutions.


4. Deg

  • Website: deginvest.de
  • Type: Corporate
  • Headquarters: Neunkirchen, North Rhine-Westphalia, Germany
  • Founded year: 1962
  • Headcount: 501-1000
  • Number of deals in 2024: 17
  • LinkedIn: deg

DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH is a public entity operating as a development finance institution based in Neunkirchen, North Rhine-Westphalia, Germany. Founded in 1962, DEG focuses on sustainable development and job creation by providing long-term financing and advisory services to private enterprises in developing and emerging markets. They support businesses across various sectors, including agriculture, manufacturing, and infrastructure. Notably, DEG has been involved in significant transactions within the electric power sector, such as providing debt financing to ACWA Power, a company known for its investments in renewable energy projects, and Azure Power, which focuses on solar energy. These transactions highlight DEG's commitment to supporting the electric power industry, particularly in sustainable energy initiatives.


5. Demeter-Partners


Demeter-Partners is a corporate venture capital and private equity firm based in Berlin, Germany, founded in 2007. The firm specializes in investments aimed at facilitating the energy and ecological transition, focusing on sustainable development. Demeter-Partners supports innovative startups and small to mid-cap companies by providing funding and strategic guidance. Their portfolio includes notable transactions in the electric power context, such as the acquisition of VERGNET, a company involved in renewable energy solutions, and investments in H2air SAS, which is likely engaged in hydrogen energy. Additionally, they have participated in funding rounds for companies like envelio, which focuses on digital solutions for energy management, and Kemwatt SAS, which is involved in energy efficiency solutions. These investments reflect Demeter-Partners' commitment to promoting ecological solutions within the electric power industry.


6. Siemens Financial Services


Siemens Financial Services, a corporate investor based in Munich, Bavaria, Germany, specializes in providing financial solutions that support technological advancements across various sectors, including industry, infrastructure, mobility, and healthcare. Founded in 1997, Siemens combines its technological expertise with financial services to foster growth and efficiency for its clients. In recent years, Siemens Financial Services has been involved in several notable transactions within the electric power sector, such as providing $550 million in debt financing to Clearway Energy Group, which focuses on renewable energy generation. They also supported GeoPura with $29.4 million in debt financing, a company dedicated to hydrogen energy solutions. Additionally, Siemens participated in a $190 million debt financing round for Aypa Power, which is involved in renewable energy projects. These investments highlight Siemens Financial Services' active role in promoting sustainability and innovation in the electric power industry.


7. Andritz

  • Website: andritz.com
  • Type: Corporate
  • Headquarters: Graz, Styria, Austria
  • Founded year: 1892
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: andritz

Andritz AG is a technology provider based in Graz, Styria, Austria, specializing in industrial equipment and solutions across various sectors, including pulp and paper, metals, and energy. Founded in 1892, Andritz has a global presence and focuses on innovation and digitalization to meet the evolving needs of its clients. Among their notable transactions, the acquisition of Andritz Hydro Hammerfest in 2010 highlights their commitment to the electric power sector, particularly in hydroelectric technology. Additionally, their acquisition of Novimpianti Drying Technology in 2018, while primarily focused on the paper industry, also enhances their product offerings in air and energy systems, further indicating their involvement in energy-related solutions. Overall, Andritz's diverse portfolio and strategic acquisitions position them as a significant player in the electric power industry.


8. 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, focusing on crude oil, natural gas, and renewable energy. Mercuria provides trading services and invests in sustainable projects, helping businesses transition to net zero. In 2024, Mercuria was involved in several notable transactions in the electric power sector, including a strategic investment in MN8 Energy, one of America's largest privately owned solar energy companies, aimed at supporting growth in solar, storage, and EV charging projects. Additionally, they led a €50M Series C funding round for The Mobility House, a company specializing in smart charging solutions for electric vehicles, further demonstrating their commitment to advancing electric power technologies. Their diverse portfolio and focus on sustainable energy make them a significant player in the electric power industry.


9. 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 investor based in Essen, North Rhine-Westphalia, Germany, specializing in both renewable and conventional energy solutions. Founded in 1898, RWE has evolved to offer a diverse range of services, including energy generation from wind, solar, and hydropower, alongside project management and engineering services. In 2023, RWE made a significant move by acquiring Con Edison Clean Energy Businesses, forming RWE Clean Energy, which enhances their renewables portfolio in the U.S. to 8 gigawatts of operating assets and a project development pipeline exceeding 24 gigawatts in onshore wind, solar, and battery storage. Additionally, RWE has been involved in major transactions such as acquiring E.ON's renewable energy business in North America and increasing their stake in the Rampion offshore wind farm. These strategic investments highlight RWE's commitment to supporting municipalities, industrial partners, and utilities in transitioning to sustainable energy sources and effectively managing their energy needs.


10. responsAbility Investments AG


Responsability Investments AG is an impact investment firm based in Zurich, Switzerland, founded in 2003. The firm specializes in managing investments in emerging markets, focusing on financial inclusion, climate finance, and sustainable food production. They provide investment solutions aimed at generating positive societal and environmental impacts alongside financial returns, particularly for small and medium-sized enterprises in developing countries. Notably, responsAbility has been involved in several significant transactions in the electric power sector, including Zola Electric, which raised $8 million in debt financing to expand access to electricity in off-grid areas. In 2024, they participated in AMPIN Energy Transition's $35 million debt financing, further emphasizing their commitment to energy transition projects. Additionally, their investment in SolarNow, which secured $9 million to deploy off-grid solar systems in Uganda, showcases their focus on renewable energy solutions. These transactions highlight responsAbility's active role in promoting sustainable energy initiatives.


11. Technology Fund

  • Website: technologyfund.ch
  • Type: Corporate
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2014
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: technology-fund

Technology Fund is a not-for-profit organization based in Zurich, Switzerland, founded in 2014. It specializes in providing loan guarantees to innovative Swiss companies focused on environmental sustainability, particularly in the cleantech sector. The fund bridges the gap between startup funding and traditional loans, enabling businesses to develop and market their innovative products. Notably, Technology Fund has been involved in several transactions relevant to the electric power context, including debt financing for TVP Solar, which is likely engaged in solar energy solutions, and Pexapark, which focuses on renewable energy software solutions. These investments highlight Technology Fund's commitment to supporting advancements in the electric power industry.


12. Vireo Ventures

  • Website: vireo.vc
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2020
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: vireo-ventures

Vireo Ventures is a Berlin-based venture capital firm founded in 2020, specializing in early-stage technology startups within the energy and mobility sectors. With a team size of 11-50, they focus on providing capital and mentorship to help startups develop innovative solutions aimed at electrification and sustainability. In 2024, Vireo Ventures has already made 8 investments, including notable transactions such as ECO2GROW, which raised $4,376,200 in a Seed Round, and encentive, which secured $2,937,177 in a Seed Round. They have also invested in ChargeEuropa, a startup likely focused on electric vehicle charging infrastructure, further emphasizing their commitment to the electric power industry. Their portfolio reflects a strong alignment with B2B business models that contribute to a decarbonized world, showcasing their dedication to fostering advancements in the electric power sector.


13. Future Energy Ventures

  • Website: fev.vc
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: innogyinnovationhub

Future Energy Ventures is a Berlin-based venture capital firm founded in 2016, specializing in investments in climate-tech startups that focus on energy transition and sustainability. With a team size of 11-50, they provide funding, mentoring, and strategic connections to help innovative companies scale their operations. Their investment strategy is centered around supporting solutions for a decarbonized future, particularly in the energy and technology sectors. Notable transactions include their participation in Bidgely, which develops energy monitoring and management solutions, and SOLshare, a solar energy marketplace aimed at off-grid communities. They also invested in Sunvigo, a solar utility company, and Lumenaza, which focuses on energy distribution. These investments highlight their commitment to advancing technologies that enhance the electric power landscape and promote sustainable energy solutions.


14. eCAPITAL ENTREPRENEURIAL PARTNERS


eCAPITAL ENTREPRENEURIAL PARTNERS is a venture capital firm based in Neunkirchen, North Rhine-Westphalia, Germany, founded in 1999. The firm specializes in investing in technology companies, with a strong emphasis on sectors such as cleantech, software, and cybersecurity. eCAPITAL provides early to growth stage funding and strategic support to startups, helping them navigate challenges and achieve growth. Notably, eCAPITAL has made significant investments in the electric power context, including a €2.7M investment in Smart Hydro Power GmbH, which focuses on innovative hydro power solutions, and participation in funding rounds for sonnen, a leader in energy storage solutions. These investments highlight eCAPITAL's commitment to advancing technologies that contribute to a clean and sustainable energy future.


15. Good Energies Foundation


Good Energies Foundation is a venture capital firm based in Zug, Switzerland, founded in 2007. It operates as a not-for-profit organization with a mission to build a just and sustainable world for all. The foundation engages with various stakeholders to promote sustainability and social justice initiatives. Among its notable transactions, Good Energies has invested in Enviromena Power Systems, which raised $15 million in Series B funding in 2010, focusing on solar energy solutions. Additionally, it participated in funding rounds for Tendril, a home energy management startup, which raised significant capital to support its growth and deployment in the electric power sector, including a project with Duke Energy. These investments highlight Good Energies Foundation's active role in the electric power industry, particularly in renewable energy and energy management.



Electric Power Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
SiemensMunich, Bavaria, Germany10001+184711
Deutsche BankFrankfurt, Hesse, Germany10001+187032
Partners GroupBaar, Zug, Switzerland1001-5000199619
DegNeunkirchen, North Rhine-Westphalia, Germany501-1000196217
Demeter-PartnersBerlin, Berlin, Germany11-5020070
Siemens Financial ServicesMunich, Bavaria, Germany1001-5000199715
AndritzGraz, Styria, Austria10001+18925
MercuriaGeneva, Geneva, Switzerland1001-500020047
RweEssen, North Rhine-Westphalia, Germany10001+18983
responsAbility Investments AGZurich, Zurich, Switzerland201-50020039
Technology FundZurich, Zurich, Switzerland11-5020148
Vireo VenturesBerlin, Berlin, Germany11-5020208
Future Energy VenturesBerlin, Berlin, Germany11-5020164
eCAPITAL ENTREPRENEURIAL PARTNERSNeunkirchen, North Rhine-Westphalia, Germany11-5019992
Good Energies FoundationZug, Zug, Switzerland1-1020070


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