Investment

Deal of the Week: Family office backs huge solar energy development

A German family office has committed further capital to one of the biggest solar energy developments in Europe, making it one of the biggest family-backed investors in clean energy. 

Wirtgen Invest, a family office set up by brothers Stefan and Jürgen Wirtgen, has signed a power purchase agreement with Spanish renewable power retailer Holaluz Clidom for the output of four photovoltaic parks in Portugal. Wirtgen has invested in six solar parks in Portugal, generating some 200  (Mega Watt peak, a measure of power output in the solar energy sector) in the country.

Wirtgent, which has a big commitment to investing in renewable energy, has also invested in wind farms in Poland as well as solar energy projects in Australia.

Based just outside of Bonn, Wirtgent was set up by the Wirtgen brothers in 2017 after the family sold  Wirtgen Group, a construction group, to John Deere for $5 billion. 

Since being set up Wirtgent has concentrated on clean energy – it is one of the biggest in this area from a family investment perspective – and real estate investing.  

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