02 September 2025 – Capital Dynamics, an independent global private asset management firm, is pleased to announce that its Clean Energy business has successfully acquired an 80% equity stake in a co-located solar-plus-storage project in Saxony-Anhalt, Germany, from Münch Energie, a leading German renewable energy developer. The deal marks Capital Dynamics’ first investment in clean energy infrastructure in Germany.
The hybrid project comprises a co-located 34 MWp solar photovoltaic (PV) asset and 11.7 MW battery energy storage system (BESS) and benefits from an attractive offtake structure, including a fixed price corporate Power Purchase Agreement (PPA) and tariffs under the EEG innovation tender.
The clean energy sector in Germany is benefitting from significant policy support from Government support under the Renewable Energy Sources Act (EEG) and targeted incentives for flexible capacity and battery storage to promote flexible capacity and improve grid stability. This provides a strong investment case and tailwind for the sector, and the German BESS market is expected to see further growth in the coming years.
Commenting on the acquisition, Dario Bertagna, Senior Managing Director, Co-Head of Clean Energy, said: “We are delighted to announce our first clean energy investment within Germany, a country benefitting from significant market and policy tailwinds within the clean energy sector. The investment is a testament to our commitment to accelerating the clean energy transition and delivering long-term, sustainable value to our investors and local communities.
“As a strategic growth market for us, Germany is somewhere we expect to deploy significant capital in future. We see growing momentum for clean energy projects in the market as heightened price volatility creates upside for co-location and hybrid strategies, particularly solar-plus-storage.”
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About Capital Dynamics
Capital Dynamics is an independent global asset management firm focusing on private assets, including private equity (primaries, secondaries and direct investments) and clean energy.
Established in 1988, the Firm has extensive knowledge and experience developing solutions tailored to meet the exacting needs of a diverse and global client base of institutional and private wealth investors. Capital Dynamics oversees more than USD 15 billion in assets under management and advisement[1], and employs approximately 150 professionals[2] globally across 13 offices in Europe, North America, and Asia.
Capital Dynamics is a recognized industry leader in responsible investment, receiving top marks (Five Stars) from PRI across all categories and investment strategies, as well as in GRESB benchmarking for its clean energy strategy.
For more information, please visit: www.capdyn.com
[1]As of March 31, 2025. Assets under Management are calculated based on the total commitments as of the final closing date for all funds currently managed by Capital Dynamics, including amounts that have been distributed. Assets under Advisement includes assets for which Capital Dynamics provides services such as reporting, monitoring and risk management.
[2] Includes all full-time and part-time employees, as well as essential functions performed by temporary staff and long-term consultants.