In order for Germany to reduce their reliance on fossil fuels and reduce carbon emissions, significant investment is required to support renewable energy development. Germany is one of the world’s leading developers of wind energy, with an installed capacity of 63GW. Wind energy accounted for the largest share of Germany’s domestic energy production according to Germany Trade & Invest. However, large-scale investments are required to fulfill the targets outlined by the coalition. By 2030, Germany hopes to have over 100GW of onshore wind and 30GW of offshore wind by 2030. In this article, we will discuss the key players driving this transition. The article is based on our top 50 list of renewable energy investors from Germany.
1) RWE Renewables – Renewable energy giant located in Essen
RWE is an industry leader in the field of renewables and specializes in the development and investment in wind, solar, hydro, hydrogen, and biomass energy. The Essen-based group aims to fulfill its “Growing Green” investment and growth strategy, which when complete will bring the companies installed capacity to 50GW worldwide requiring a €50bn investment to do so. RWE plans to include the Ruhr region in this expansion, with the aim to invest in wind and solar projects with a total combined capacity of 1000MW in this region, underlying the importance of the region to the renewables giant. To date, RWE operates over 90 wind farms in Germany and aims to add to that number in the near future.
2) STEAG GmbH – Solar investor and developer located in Würzburg
STEAG is a global renewable energy developer and investor, with over 8000 installations across 40 countries. The Würzburg-based group operates in four key areas: large-scale project development, industrial solutions, operation & maintenance, and energy efficiency offerings. STEAG are specialists in maximizing the outputs of their wind farms, the group offer years of experience and have developed sophisticated IT programs to return the most yield from their wind investments.
3) GLS Beteiligungs AG – Wind and solar investor headquartered in Bochum
The Bochum-based group was founded in 1995 and has developed a proven track record in renewable energy investments. GLS Beteiligungs is part of the wider GLS group and has supported numerous wind, solar, and hydro projects through their closed funds. To date, the group has developed up to 20 funds that invest in renewables, social affairs, health, and agriculture. In 2017, the Bochum-based group invested an estimated €100m in a 48MW wind farm located north of Saxony-Anhalt, Germany. The 16-turbine site will provide enough energy to supply up to 40,000 households and brought their wind portfolio up to 23 projects.
Image Source: American Public Power Association via Unsplash (03.02.2023)