DWS invests in solar park in Brandenburg, Germany

Aug 23, 2023

In Brief

The global asset manager along with the founders of the Energiepark Lausitz project announced their cooperation today
First investment for DWS' European infrastructure investment strategy dedicated to German retail and institutional investors
Strategy is part of DWS's family of investment solutions to support European Transformation

For further information please contact:

Nick Bone
+44 (0) 20 754 72603
nick.bone@dws.com

Klaus Thoma

+49 (0) 69 910 33405
klaus.thoma@dws.com

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DWS invests in solar park in Brandenburg, Germany

The Energiepark Lausitz consortium - consisting of Terravent, Steinbock EE and GP JOULE - along with DWS today announced that the asset manager has acquired the Klettwitz South Solar Park on behalf of its European infrastructure investment strategy. This marks the strategy’s first investment, which also allows German retail investors to invest directly in infrastructure projects. The turnaround energy company GP JOULE, together with the projects co-initiators Terravent and Steinbock EE, will retain responsibility for the service and operational management of the energy park.

The Energiepark Lausitz is one of the largest open-space photovoltaic plants in Germany. With a total capacity of 300 megawatts peak (MWp), it is an essential building block for structural change in Lower Lusatia and a milestone on the journey to a establishing a climate-friendly energy supply. Two of three sections of the energy park are in full operation which includes the Klettwitz South Solar Park, in which DWS has now invested for its strategy. With a total of 163,000 solar modules, the Klettwitz South Solar Park has an output of around 80 megawatts peak. The electricity generated is fed into the public grid and is used to supply private households and commercial customers. With their investment, investors will support Europe’s energy transition ambitions as well as receive a return on their investment.

Peter Brodehser, Partner Investments Infrastructure at DWS said: "We are very pleased that we can contribute to the European transformation with this first investment into our European infrastructure strategy for German investors here in Lusatia. Concurrently, we are also keen to democratise the opportunity for infrastructure investments with our strategy: Investors in this strategy can participate in infrastructure projects with amounts as low as 50 euros. In doing so, they contribute directly to the financing of future-oriented infrastructure and renewable energy projects like this one."

"The Lusatia Energy Park is and remains a project close to our hearts. It's great to have found a reliable and forward-looking partner in DWS," Björn Reuter, Managing Director GP JOULE INVEST, commented on the new partnership, "we look forward to working together and can now approach the implementation of the next construction phase full of energy."

Picture:

Caption: Around 80 megawatts of installed capacity have been in operation at the Klettwitz South Solar Park since October 2022.

Picture rights: GP JOULE, free of charge in connection with reporting on the Klettwitz South Solar Park.

About DWS Group

DWS Group (DWS) with EUR 859bn of assets under management (as of 30 June 2023) aspires to be one of the world's leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major liquid and illiquid asset classes as well as solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to our investment approach.

DWS wants to innovate and shape the future of investing. We understand that, both as a corporate as well as a trusted advisor to our clients, we have a crucial role in helping to navigate the transition to a more sustainable future. With approximately 4,400 employees in offices all over the world, we are local while being one global team. We are committed to acting on behalf of our clients and investing with their best interests at heart so that they can reach their financial goals, no matter what the future holds. With our entrepreneurial, collaborative spirit, we work every day to deliver outstanding investment results, in both good and challenging times to build the best foundation for our clients’ financial future.