The solar power industry in the DACH region, encompassing Germany, Austria, and Switzerland, is rapidly evolving. It includes a wide range of companies, from solar panel manufacturers and technology developers to project developers and financial institutions. Businesses are increasingly focused on harnessing solar energy to combat climate change while creating sustainable job opportunities. Recent technological advancements have made solar solutions more efficient and accessible, paving the way for significant growth in both residential and commercial sectors. With ambitious renewable energy goals set by each government, the DACH solar power industry is poised for a bright future, attracting substantial investments along the way.


The investors featured here represent a mix of corporate, private equity, venture capital, and financial institutions, predominantly based in urban centers of DACH. These firms range from small teams to large organizations with thousands of employees. Founded between the late 20th century and early 21st century, their combined activity for 2024 demonstrates significant engagement, with nearly 100 solar power investments collectively targeted in this sector, reflecting an increasing commitment to renewable energy solutions.


Top 18 Solar Power 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 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 the context of solar power, Deutsche Bank has been involved in several key transactions, such as the $60 million Series C funding for Sun King, a company dedicated to solar energy solutions, and substantial debt financing for Origis Energy, totaling $750 million in 2023 and $375 million in 2022. Additionally, Deutsche Bank participated in a $940 million debt financing for Greenko Group, which is also engaged in renewable energy projects. These activities highlight Deutsche Bank's commitment to supporting the solar power industry alongside its broader investment strategy.


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, founded in 1847 and headquartered in Munich, Bavaria, Germany, is a leading technology conglomerate specializing in industrial automation, energy solutions, rail transport, and health technology. With a workforce of approximately 320,000 employees, Siemens generates significant revenue and provides innovative products and services across various sectors. In recent years, Siemens has demonstrated its commitment to the solar power industry through strategic investments. Notably, in October 2021, Siemens Ltd acquired a 26% equity stake in Sunsole Renewables, marking a significant entry into the solar sector. Furthermore, Siemens has been involved in financing renewable energy projects, such as the $559 million debt financing for Strata Clean Energy in February 2024 and the $284 million debt financing for Dimension Renewable Energy in December 2024. These transactions highlight Siemens' active role in supporting and investing in renewable energy initiatives, particularly in solar power.


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 that operates as a development finance institution, founded in 1962 and based in Neunkirchen, North Rhine-Westphalia, Germany. It provides long-term financing and advisory services to private enterprises in developing and emerging markets, with a strong focus on 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 been involved in several transactions within the solar power sector, including a $15 million investment in Orb Energy, which specializes in rooftop solar financing for SMEs in India, and a $4 million debt financing round for Daystar Power, a company providing solar energy solutions in Africa. These transactions highlight DEG's commitment to promoting renewable energy and sustainable practices in its investment strategy.


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. Among its notable transactions in the solar power sector, Partners Group has invested in Rioglass Solar Holding, which focuses on solar glass production, and ET Solar Group, a provider of solar products and services. Additionally, they have made significant investments in Silicon Ranch, a company that develops, owns, and operates solar energy projects. These investments highlight Partners Group's active role in the solar power industry, making them a relevant player in this sector.


5. responsAbility Investments AG


responsAbility Investments AG is an impact investment firm based in Zurich, Switzerland, specializing in managing investments in emerging markets. Founded in 2003, the firm focuses on financial inclusion, climate finance, and sustainable food production, providing investment solutions to both professional and retail investors. Notably, responsAbility has been involved in several key transactions in the solar power 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 other solar energy companies such as d.light, Sun King, and Zola Electric, further emphasizing their commitment to supporting renewable energy initiatives in developing regions. Their operations aim to generate positive societal and environmental impacts alongside financial returns, particularly for small and medium-sized enterprises in developing countries.


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, providing funding and strategic guidance to innovative startups and small to mid-cap companies. With a focus on sustainable development, Demeter manages a diverse portfolio that includes notable transactions in the solar power sector, such as their investment in PANOSOL, which raised $1.5 million in Series A funding in 2008. Additionally, they have been involved in other energy-related ventures like VERGNET, which they acquired in 2006, and have supported companies like Cozynergy and H2air SAS in their funding rounds. This diverse engagement in the energy sector, particularly with a focus on sustainability, underscores their relevance as an investor in solar power.


7. Siemens Financial Services


Siemens Financial Services, based in Munich, Bavaria, Germany, is a corporate investor founded in 1997. As a part of Siemens, a leading technology company, they specialize in providing innovative financial solutions that support digital transformation and sustainability across various sectors, including industry, infrastructure, mobility, and healthcare. In 2024, Siemens Financial Services has been actively involved in the renewable energy sector, particularly in solar power, with notable transactions such as providing $550 million in debt financing to Clearway Energy Group and $100 million to Onyx Renewable Partners. These investments reflect their strategic focus on supporting companies that contribute to the energy transition and sustainability, further solidifying their role as a relevant player in the solar power investment landscape.


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, particularly in 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 been involved in significant transactions within the solar power context, including multiple funding rounds for Heliatek, a leader in organic photovoltaics, where they participated in Series B, C, and D funding rounds. These investments highlight their commitment to advancing solar technology. Additionally, eCAPITAL has invested in sonnen, a company that focuses on energy storage solutions, which are essential for optimizing solar energy usage. This dual focus on solar technology and energy storage positions eCAPITAL as a relevant player in the solar power investment landscape.


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, 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, they made a significant investment in MN8 Energy, one of America's largest privately owned solar energy companies, supporting its growth in solar, storage, and EV charging projects. Additionally, they participated in funding rounds for companies like Fervo Energy, which is involved in renewable energy technologies, and Connected Energy, which focuses on energy storage solutions. Their involvement in these transactions highlights their commitment to advancing renewable energy initiatives, including solar power.


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 led a seed funding round for OffGridBox, which provides affordable renewable energy and clean water solutions, raising $1.6 million in 2018. Additionally, they invested in Konarka Technologies, a company specializing in solar energy solutions, participating in multiple funding rounds including a $23.8 million venture round in 2010 and an $18 million Series C round in 2004. These investments highlight their commitment to advancing solar power technologies and renewable energy solutions.


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 an energy company 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, as well as project management and engineering services. In recent years, RWE has made significant strides in the solar power sector, highlighted by their acquisition of Polish photovoltaic developer Alpha Solar, which enhanced their solar project pipeline by 3GW. Furthermore, RWE's acquisition of Con Edison Clean Energy Businesses led to the establishment of RWE Clean Energy, significantly boosting their renewables portfolio in the U.S. to 8 gigawatts of operating assets, including solar. Additionally, RWE's majority stake in R3 Renewables focuses on developing a 5.5 GW pipeline of solar and battery storage projects in the U.S. These strategic investments illustrate RWE's commitment to transitioning to sustainable energy sources and expanding their footprint in the solar power industry.


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 specializes in providing loan guarantees to innovative Swiss companies that focus on environmental sustainability, particularly in the cleantech sector. The fund plays a crucial role in bridging 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 relevant transactions, including debt financing for Solaxess, a company focused on solar technology, and TVP Solar, which also operates in the solar sector. These transactions highlight Technology Fund's commitment to supporting the solar power industry alongside other cleantech initiatives.


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 venture capital firm based in Berlin, Germany, founded in 2016. The firm specializes in investing in climate-tech startups that are focused on energy transition and sustainability. They provide funding, mentoring, and strategic connections to help these startups scale their operations. Future Energy Ventures has been involved in several significant transactions in the solar power 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 that aims to strengthen its position in the energy market. These transactions highlight their active role in supporting innovative solar energy solutions.


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. Their services include investments, asset management, and capacity building aimed at facilitating sustainable economic development. Symbiotics has been involved in several significant transactions in the solar power sector, including a $15 million loan to Zola Electric to expand access to energy for households in Tanzania, and a bond issuance of ₹1.26 billion for Fourth Partner Energy, which is dedicated to distributed solar energy solutions. These investments highlight Symbiotics' active role in promoting solar energy and supporting sustainable energy access in underserved regions.


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 B2B business models that contribute to a decarbonized world, providing both capital and mentorship to help startups develop innovative solutions aimed at electrification and sustainability. 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 technologies. Their investment in dsb Deutsche Sanierungsberatung further demonstrates their commitment to supporting companies that align with sustainability goals.


16. SUSI Partners

  • Website: susi-partners.com
  • Type: Venture Capital
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2009
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: susi-partners-ag

SUSI Partners is an investment management firm based in Zurich, Switzerland, specializing in energy transition infrastructure. Founded in 2009, the firm provides institutional investors, including pension funds and insurance companies, with access to mid-market private infrastructure opportunities. Their investment focus includes renewable energy, energy efficiency, and energy storage solutions, contributing to climate neutrality. Notably, SUSI Partners has been involved in several significant transactions in the solar power sector, including the acquisition of a majority stake in the French renewable energy developer APAL MW and a 50% stake in Starling Energy Group, which focuses on residential solar-storage solutions. These investments reflect their commitment to expanding their presence in the renewable energy market and supporting the rollout of solar and storage systems. Additionally, their involvement in funding initiatives for companies like OBE Power, which is advancing EV Charging-as-a-Service, further underscores their dedication to sustainable energy solutions.


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 who are addressing climate change and sustainability challenges in Europe. Aenu aims to drive systemic change in venture capital through intentional investments in impactful technologies. Notably, Aenu has been involved in several relevant transactions in the solar power context, including investments in zolar, a company focused on solar energy solutions, and Metris Energy, which is developing an AI-powered solar platform. These investments highlight Aenu's commitment to supporting innovations in the solar power industry and its broader focus on climate tech.


18. 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, healthcare, and renewable energy. Notably, Picus Capital has been involved in several funding rounds for Enpal, a provider of solar systems and batteries for rent, which raised significant capital in Series A, Series C, and other rounds from 2017 to 2021. This involvement highlights Picus Capital's interest in the solar power industry and their commitment to supporting sustainable technology solutions. Their mission is to empower entrepreneurs to challenge the status quo and build sustainable category leaders globally, which aligns with the goals of the solar power sector.



Solar Power 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
SUSI PartnersZurich, Zurich, Switzerland51-20020094
AenuBerlin, Berlin, Germany11-5020229
Picus CapitalMunich, Bavaria, Germany11-50201528


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