The solar energy industry in DACH focuses on harnessing sunlight to produce clean electricity and promote sustainable energy practices. It features a mix of established corporations, innovative startups, and investment firms, which range from solar panel manufacturers to service providers and energy financiers. This sector is driven by a growing awareness of climate change and the need for renewable energy solutions, pushing advancements in technology and efficiency. With supportive government policies and hefty investments in renewable infrastructure, the industry is positioned for significant growth, aiming to increase solar capacity and lessen reliance on fossil fuels in the coming years.


This list focuses on 18 notable investors within the solar energy sector across DACH. The investors include corporate giants like Siemens and Deutsche Bank, as well ventures such as responsAbility and Future Energy Ventures. Their operations span various locality sizes, from small firms to large multinationals that were founded between 1865 and 2017. In 2024 alone, these investors collectively participated in numerous deals, showcasing their commitment to fostering solar advancements and clean energy expansion.


Top 18 Solar Energy Investors in DACH


1. 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, founded in 1870 and headquartered in Frankfurt, Hesse, Germany, is a prominent investment bank and financial services provider. 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 renewable energy sector, particularly solar energy. Notable transactions include a $60 million investment in Sun King during its Series C funding round in December 2017, which focuses on solar energy solutions. Additionally, Deutsche Bank participated in significant debt financing for companies like Origis Energy, which raised $750 million in March 2023, and Greenko Group, which secured $940 million in March 2021. These transactions highlight Deutsche Bank's commitment to supporting the growth of the solar energy industry and its broader engagement in renewable energy investments.


2. 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 is a leading technology conglomerate based in Munich, Bavaria, Germany, specializing in industrial automation, energy solutions, rail transport, and health technology. Founded in 1847, Siemens operates globally with approximately 320,000 employees and generates significant revenue. In recent years, Siemens has made strategic investments in the solar energy sector, including a notable acquisition of a 26% equity stake in Sunsole Renewables in October 2021, which underscores its commitment to renewable energy. Furthermore, Siemens has been involved in financing transactions for solar energy projects, such as the $559 million raised by Strata Clean Energy in February 2024 and the $284 million raised by Dimension Renewable Energy in December 2024. These activities reflect Siemens' focus on enhancing its portfolio in sustainable energy solutions, making it a relevant player in the solar energy investment landscape.


3. 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 based in Neunkirchen, North Rhine-Westphalia, Germany, founded in 1962. As a development finance institution, DEG focuses on providing long-term financing and advisory services to private enterprises in developing and emerging markets, emphasizing sustainable development and job creation. DEG supports businesses across various sectors, including agriculture, manufacturing, and infrastructure, helping them access capital and expert guidance for growth. Notably, DEG has participated in significant transactions in the solar energy sector, including a $13.6 million investment in Azure Power in 2011, a $15 million funding round for Orb Energy in 2018 aimed at expanding rooftop solar financing for SMEs in India, and a $275 million investment in Fourth Partner Energy in 2024. These transactions highlight DEG's active role in promoting solar energy initiatives, particularly in emerging markets.


4. 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 an 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. Partners Group has made significant investments in the solar energy sector, including notable transactions such as the investment in Rioglass Solar Holding in 2012, which focuses on solar glass production, and ET Solar Group, which raised $50 million in 2008 for solar products. Additionally, they have invested in Silicon Ranch, contributing $55 million in 2017 and $100 million in 2016, both aimed at expanding solar energy projects. Their acquisition of Dimension Renewable Energy in 2021 further highlights their strategic focus on renewable energy solutions, making them a key player in the solar energy investment landscape.


5. 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, with a strong focus 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 key transactions in the solar energy sector, including a $9 million credit fund for SolarNow, which aims to deploy off-grid solar systems in Uganda. They also participated in funding rounds for d.light, Zola Electric, and Sun King, which collectively raised significant amounts to enhance solar energy access. These transactions highlight responsAbility's commitment to supporting renewable energy initiatives, particularly in regions where access to electricity is limited.


6. Demeter-Partners


Demeter-Partners is a 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, supporting innovative startups and small to mid-cap companies with funding and strategic guidance. Their portfolio includes notable transactions such as the acquisition of VERGNET, a company focused on renewable energy solutions, and investments in PANOSOL, which raised $1.5 million in Series A funding, indicating a focus on solar energy technologies. Other investments include Methaneo, H2air SAS, and Cozynergy, which, while not exclusively solar, align with the broader goals of sustainable energy development.


7. Siemens Financial Services


Siemens Financial Services, based in Munich, Bavaria, Germany, is a corporate investor that specializes in providing financial solutions to 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 2024, Siemens Financial Services was involved in several notable transactions within the renewable energy sector, including a $550 million debt financing for Clearway Energy Group and a $100 million debt financing for Onyx Renewable Partners, both of which are key players in the solar energy market. Additionally, they participated in a funding round for AMPIN Energy Transition, further emphasizing their commitment to supporting energy transition initiatives. Their involvement in these transactions highlights their active role in promoting sustainability and digital transformation in the energy sector.


8. 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 across various sectors, including 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 been involved in multiple funding rounds for Sonnen, a company that focuses on energy storage solutions. Their investments in Sonnen, which include several rounds from Series A to Series E, highlight their commitment to supporting innovative technologies that contribute to a clean, decentralized energy future. This involvement in the energy storage market positions eCAPITAL as a relevant player in the solar energy sector, as energy storage is essential for maximizing the efficiency and reliability of solar energy systems.


9. Mercuria


Mercuria Energy Group Ltd. is a global energy trading company based in Geneva, Switzerland, founded in 2004. The company operates in the commodity markets with a focus 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 made a strategic investment in MN8 Energy, a leading solar energy company in the U.S., which aims to support the growth of solar, storage, and EV charging projects. Additionally, they participated in funding rounds for Fervo Energy, which focuses on renewable energy technologies, and Connected Energy, which is involved in energy storage solutions. Their investments reflect a commitment to advancing renewable energy initiatives, including solar energy.


10. 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 focused on building 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 Foundation has invested in several companies within the solar energy sector, including a $15 million investment in SolarReserve in 2011, which is known for its innovative solar energy technology. Additionally, they have invested in Konarka Technologies, raising $18 million in a Series C round in 2004 and $23.8 million in a venture round in 2010, both of which are significant contributions to solar energy advancements. Furthermore, their investment in OffGridBox, which provides affordable renewable energy solutions, aligns with their mission to promote sustainable energy access.


11. 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 focus on sustainable energy sources, offering services that include energy generation from wind, solar, and hydropower, as well as project management and engineering services. In 2023, RWE made a significant move by acquiring Con Edison Clean Energy Businesses, enhancing its renewables portfolio in the U.S. to 8 gigawatts of operating assets, which includes solar energy projects. In 2022, RWE acquired Polish photovoltaic developer Alpha Solar, adding 3GW to its solar project pipeline. Furthermore, RWE's acquisition of a majority stake in R3 Renewables aims to develop a 5.5 GW pipeline of solar and battery storage projects in the U.S. These transactions highlight RWE's strategic focus on expanding its solar energy investments and capabilities.


12. 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 provides loan guarantees to innovative Swiss companies focused on environmental sustainability, particularly in the cleantech sector. The fund aims to bridge 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 solar energy, including debt financing for Solaxess, a company that specializes in solar technology, and TVP Solar, which also operates in the solar energy space. These investments highlight the fund's commitment to supporting the growth of solar energy solutions and its active role in the cleantech industry.


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. The firm provides funding, mentoring, and strategic connections to help innovative companies in the energy and technology sectors scale their operations. Notably, Future Energy Ventures has made significant investments in the solar energy sector, including a €20 million investment in Sunvigo, a solar utility company, and a $1.1 million investment in SOLshare, which operates an off-grid solar energy marketplace in Bangladesh. Additionally, they co-led a €9.4 million Series B funding round for Piclo, a company aiming to enhance its position in the energy market. These transactions highlight Future Energy Ventures' active role in supporting solar energy initiatives and their commitment to fostering a decarbonized future.


14. Symbiotics

  • Website: symbioticsgroup.com
  • Type: Venture Capital
  • Headquarters: Geneva, Geneva, Switzerland
  • Founded year: 2004
  • Headcount: 51-200
  • Number of deals in 2024: 1
  • LinkedIn: symbiotics

Symbiotics is an investment management firm based in Geneva, Switzerland, specializing in impact investing and asset management. Founded in 2004, the firm provides tailored financial solutions to institutional investors, including pension funds and development finance institutions, with a focus on emerging and frontier economies. Symbiotics is dedicated to facilitating sustainable economic development through investments, asset management, and capacity building. Notably, they have been involved in several significant transactions in the solar energy sector, including a USD 15 million investment in Zola Electric to expand access to energy for 145,500 households in Tanzania, and a bond issuance of ₹1.26 billion for Fourth Partner Energy, a distributed solar energy firm. These transactions highlight Symbiotics' commitment to supporting renewable energy initiatives and their role in advancing solar energy access in underserved markets.


15. 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. They focus on providing capital and mentorship to help these startups develop innovative solutions aimed at electrification and sustainability. Their investment strategy emphasizes B2B business models that contribute to a decarbonized world. In 2024, Vireo Ventures participated in several significant transactions, including a $4.4 million seed round for ECO2GROW, which may involve sustainable agricultural practices that could intersect with solar energy applications. Additionally, they invested in Amperecloud, which raised over $8 million across two Series A rounds in 2023 and 2024, potentially indicating a focus on energy management solutions that could complement solar energy systems. These transactions highlight Vireo Ventures' commitment to supporting technologies that align with the goals of the solar energy industry.


16. Picus Capital

  • Website: picuscap.com
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: picus-capital

Picus Capital is a venture capital firm based in Munich, Bavaria, Germany, founded in 2015. The firm specializes in early-stage technology investments and partners with innovative startups across various sectors, including fintech and healthcare. Notably, Picus Capital has made significant investments in the solar energy sector, particularly in Enpal, a provider of solar systems and batteries for rent. They participated in multiple funding rounds for Enpal, including a Seed round in 2017, Series A in 2019, and Series C in 2021, showcasing their commitment to supporting sustainable energy solutions. Their mission is to empower entrepreneurs to challenge the status quo and build sustainable category leaders globally, which aligns with their investments in renewable energy.


17. Aenu

  • Website: aenu.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2022
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: pirate-impact

Aenu is a venture capital firm based in Berlin, Germany, founded in 2022. The firm specializes in empowering climate tech founders by providing investment brokerage and advisory services, primarily targeting tech entrepreneurs in Europe who are addressing climate change and sustainability challenges. Aenu has made several notable investments in the solar energy sector, including a Series C investment in zolar, a company focused on solar energy solutions, and a pre-seed investment in Metris Energy, which is developing an AI-powered solar platform aimed at tapping into a significant revenue opportunity in the commercial property sector. These transactions highlight Aenu's commitment to driving systemic change in venture capital through intentional investments in impactful technologies, particularly in the renewable energy space.


18. Sictic

  • Website: sictic.ch
  • Type: Venture Capital
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2014
  • Headcount: 201-500
  • Number of deals in 2024: 77
  • LinkedIn: sictic

Sictic is a not-for-profit venture capital organization based in Zurich, Switzerland, founded in 2014. It connects smart money investors with innovative Swiss early-stage technology startups, providing investment opportunities, networking events, and educational resources to facilitate the growth of startups and the investment community. In the context of solar energy, Sictic has been involved in several notable transactions, including a pre-seed investment in Voltiris, which is developing solar modules technology for greenhouses, and participation in a financing round for Insolight, which focuses on agrivoltaic solutions. These investments highlight Sictic's active role in supporting the development of solar energy technologies and their commitment to fostering innovation in this sector.



Solar Energy Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Deutsche BankFrankfurt, Hesse, Germany10001+187032
SiemensMunich, Bavaria, Germany10001+184711
DegNeunkirchen, North Rhine-Westphalia, Germany501-1000196217
Partners GroupBaar, Zug, Switzerland1001-5000199619
responsAbility Investments AGZurich, Zurich, Switzerland201-50020039
Demeter-PartnersBerlin, Berlin, Germany11-5020070
Siemens Financial ServicesMunich, Bavaria, Germany1001-5000199715
eCAPITAL ENTREPRENEURIAL PARTNERSNeunkirchen, North Rhine-Westphalia, Germany11-5019992
MercuriaGeneva, Geneva, Switzerland1001-500020047
Good Energies FoundationZug, Zug, Switzerland1-1020070
RweEssen, North Rhine-Westphalia, Germany10001+18983
Technology FundZurich, Zurich, Switzerland11-5020148
Future Energy VenturesBerlin, Berlin, Germany11-5020164
SymbioticsGeneva, Geneva, Switzerland51-20020041
Vireo VenturesBerlin, Berlin, Germany11-5020208
Picus CapitalMunich, Bavaria, Germany11-50201528
AenuBerlin, Berlin, Germany11-5020229
SicticZurich, Zurich, Switzerland201-500201477


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