About us20 years of renewable energy expertise

Seize opportunities. Think outside the box. Transforming the future.
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klimaVest by Commerz Real

Commerz Real1, a Commerzbank Group company, has 54 years of market experience as an asset manager for tangible assets with assets under management of 55 billion euros.

The range of services includes the hausInvest open-ended real estate fund - with fund assets of 19.5 billion euros and positive performance in all 54 years since launch in 1972.2

With klimaVest (2020 edition) and infraVest (2026 edition), the Commerz Real Group has expanded its offering to include two ELTIFs for private investors: klimaVest invests in renewable energies and is currently one of the largest ELTIFs in Europe.3 infraVest focuses on classic infrastructure - from mobility and digital networks to energy and social infrastructure.
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Why there is klimaVest

Our vision and mission statement

Timo Werner, klimaVest fund manager since launch in 2020

Europe’s energy systems are undergoing the most profound transformation since the Industrial Revolution. What is needed now is a sense of responsibility to rethink generation, supply and infrastructure, and to take immediate action. For over 5 years, klimaVest has been making targeted investments in renewable energy and energy infrastructure: photovoltaic and wind power plants, transmission grids and, looking ahead, storage solutions.​

Because we are actively shaping and driving forward the transformation of energy systems.​Because we are promoting the performance and future viability of Europe’s energy supply.​Because, by investing in renewable energy and energy infrastructure, we are contributing to the energy transition.​

klimaVest relies on a diverse range of revenue streams that enable stable growth and predictable returns. These include long-term power purchase agreements, electricity trading and regulated revenues from grid infrastructure. 

This makes klimaVest an attractive energy investment and, regardless of stock market fluctuations, a future-proof component of a portfolio for discerning private investors’ investment strategies.

An investment in tangible assets for transformation and responsibility. For genuine participation in the energy market of tomorrow.​

Energy investment. Made real.​

The original version

5 years klimaVest

A success story since 2020

Wind, sun, grids - since 2020, we have strategically built up the klimaVest portfolio. From the first wind farms in Germany and France to grid infrastructure: Each investment follows our principle of selecting suitable investments with long-term contracts for our 30,000 investors. 
Find out more about klimaVest
A man in a grey suit smiling into the camera, against a bright background.
October, 2020

The first investments

Germany and France. klimaVest is starting portfolio management with six wind farms. The investments have long-term feed-in tariffs and form the foundation for continuous portfolio construction.
Dive into the portfolio
Two workers in safety equipment standing on a wind turbine under a cloudy sky.
August, 2021

Our entry into France 

Tout Vent wind farm. With 20 years of feed-in tariffs and favourable wind conditions, Tout Vent has developed into one of the most profitable plants and today hosts an innovative pilot project for intelligent bat protection.
To the Tout Vent wind farm
Two workers in protective clothing standing on a platform at a wind turbine, surrounded by landscape and blue sky.
October, 2022

The year of the sun

Agri-PV and Sweden. With our first agri-PV project development in Germany, we are opening up a new market segment that combines energy production and agriculture in one area. In parallel, the company entered the Swedish market with two photovoltaic projects.
Find out more about Agri-PV
Sheep grazing under solar panels, accompanied by a shepherd with a stick.
September, 2023

Wind and sun in one location

Cadiz solar farm. The Cartuja solar power plant is already in operation and feeding electricity into the grid. In the future, the site could be expanded with a wind power project to a hybrid site - this would double the existing grid connection and significantly increase efficiency.
Learn more about photovoltaics
Three people wearing helmets and vests standing in front of solar panels on a field.
September, 2024

Our entry into Ireland

Moanvane wind farm. The Offaly County Wind Farm benefits from exceptional wind conditions that are close to offshore conditions.4 Wind power already covers one third of Ireland’s electricity demand today.5
More about Moanvane Wind Farm
A worker wearing a safety vest and helmet climbs down a metal staircase with a suitcase in front of a wind turbine tower.
April, 2025

Entry into network infrastructure

New asset class. We acquire an indirect stake in Amprion, one of the four German transmission system operators. This is the first time that private investors have access to electricity grids for the energy transition.
Learn more about Amprion
A worker in blue protective clothing climbing a power tower in a clear sky.

klimaVest performance since fund launch 2

Past performance is not indicative of future returns.
  • gross*
  • net**
  • accumulated (gross)

* Calculated according to the BVI method (without initial charge, distribution immediately reinvested).
** The net investor performance model calculation assumes an investment amount of €1,000 and a 5% initial charge accrued at purchase and deducted in the first year. The initial charge is a maximum amount that may be lower in individual cases. In addition, custodian fees may be charged for the safekeeping of units, which may reduce performance for investors.
Period under review: 10/28/2020 - 07/31/2026
Source: Commerz Real AG, as at 2026/07/31

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The klimaVest team of experts

klimaVest is backed by a lean, specialised team consisting of fund management, asset management and technology. We make targeted use of the expertise and infrastructure of the Commerz Real Group1 - for active management with controlled costs.

The benefits to you:

Experience and know-how of an established institution - with the efficient structures of focused fund management.

A man in a grey suit stands in front of a structured, weathered wall and smiles into the camera.
Since 2015, I have worked as a fund manager at Commerz Real and am responsible for transactions in renewable energies, infrastructure and real estate - total volume over 4 billion euros. I helped develop klimaVest from the initial idea to the launch of the fund and today manage the capital of over 30,000 investors.
Timo Werner
klimaVest fund manager since the first hour
A man in a suit standing in front of a wall with geometric, green patterns.
With my team, I am responsible for the operation of klimaVest plants - from wind and solar to hybrid plants. Each technology has its own particularities, each European market has its own requirements. Our job is to ensure that everything runs smoothly and that every system performs optimally.
Mr Bernd Müller
Head of Asset Management Renewable Energies
Portrait of Laura Haidl-Schöpf standing in front of a rough wall
I ensure that each investment meets the Fund’s sustainability criteria, from the point of view of taxonomy alignment and compliance with the exclusion criteria - from purchase to operation to modernisation. As a PhD impact investing expert with over ten years of transactional experience, I ensure that klimaVest consistently achieves its sustainability goals, in particular compliance with its taxonomy quota.
Dr Laura Haidl
Head of Group Strategy & Sustainability
Young woman smiling, wearing glasses and a black blazer
My task is to find the right electricity marketing strategy for each plant. The majority of our portfolio is through government tariffs or long-term PPAs (Power Purchase Agreements)6 at a fixed price. We actively market the rest via the stock exchange - adapted to market conditions and investment profile. Through continuous market analysis, I ensure that klimaVest is earnings-oriented and at the same time solidly positioned.
Anna Ekimova
Senior Commercial Energy Manager

Luxembourg location - In the heart of Europe

klimaVest was launched as an ELTIF (European Long-Term Investment Fund) in Luxembourg - and for good reasons: Luxembourg is considered Europe’s leading fund location with one of the most experienced supervisory authorities for investment funds, the Commission de Surveillance du Secteur Financier (CSSF).

For investors, this means: klimaVest is subject to strict European regulatory standards for investor protection and transparency. At the same time, the fund benefits from its geographical location in the heart of Europe - ideal for investments in wind, solar and grid infrastructure across six European countries.

The combination of a proven regulatory framework, stable legal regime and central location makes Luxembourg the optimal location for a pan-European energy fund such as klimaVest.

Find out more about the Luxembourg site

1The management company of klimaVest is Commerz Real Fund Management S.à r.l.

2Calculated using the BVI method (excluding initial charge, distribution reinvested immediately). Past performance is not indicative of future returns.

3Largest ELTIF / Market leader in Germany in terms of fund assets: Scope ELTIF Study 2026, “Successful Mass Launch – Overview of the ELTIF Market 2025/2026,” as of December 31, 2025, published March 26, 2026, pages 2 and 9.

4Offaly Express: Only Cork and Kerry wind farms deliver more power than Offaly, 13.08.2025, https://www.offalyexpress.ie/news/tullamore-tribune/1870224/only-cork-and-kerry-wind-farms-deliver-more-power-than-offaly.html

5Wind Energy Ireland: Irish wind farms provide a third of our power in 2024 and set new energy milestone, 09.01.2025, https://windenergyireland.com/latest-news/7827-irish-wind-farms-provide-a-third-of-our-power-in-2024-and-set-new-energy-milestone

6A Power Purchase Agreement, or PPA for short, is an often long-term electricity supply contract between two parties, usually between a power producer and a power purchaser.