43 plants • 6 countries • 1.8 billion Euro volumeNew energy for your portfolio. And Europe’s energy systems.

klimaVest is suitable for investors who 

• want to invest in the medium to long term, with a horizon of more than five years,
• want to expand their portfolio with tangible assets from the renewable energy sector,
• invest in returns that are largely independent of the stock market,
• prefer broad diversification across many assets, countries and technologies to individual participation.

klimaVest is less suitable for investors who 

• have short-term access to their invested capital,
• expect a high return in a short time,
• have little experience with tangible assets or investments outside the stock exchange. 

Regardless of the investment profile, fixed conditions currently apply for an investment in klimaVest: The minimum investment amount is EUR 10,000 and may not exceed 10% of the investable private assets. This results in an investable asset of at least EUR 100,000 for an entry. The 10% limit does not apply to assets exceeding EUR 500,000. The prerequisite is also investment advice with a suitability check, in which it is clarified whether klimaVest is suitable for your personal situation. 

As of September 1, 2026, these requirements will change:

• The minimum investment amount will be eliminated.
• A twelve-month notice period will apply to all new investors. Existing investors who joined by August 31, 2026, will be grandfathered in.
• Investment advice will no longer be provided; this will be a non-advisory transaction involving a suitability assessment and declaration. Investment advice will then be optional.

When purchasing klimaVest shares, a one-off initial charge ⁶ is charged. It is added to the unit value and essentially remunerates the distribution of the units. Over the digital subscription path, it currently stands at 4 percent; for an investment with personal advice, it can be between 0 and 5 percent, depending on the respective sales partner. 

In addition to this one-off premium, ongoing costs are incurred during the holding period, which are summarised in the total expense ratio. They are not part of the purchase process, but are continuously taken into account in the fund.

klimaVest combines six advantages that are available in this combination in only a few investment products for private investors:

• klimaVest invests in a structural growth market: Electricity demand in Europe is rising significantly, driven by data centres and electromobility, among other things. It is to be increasingly covered by renewable energies, whose share of German electricity consumption is to grow to at least 80 percent by 2030.⁷ klimaVest is thus investing in an asset class with long-term increasing demand, which is hardly represented in many custody accounts so far.
• It is an investment in tangible assets with current income: Behind each share are real wind and solar farms as well as electricity grids that generate revenue on an ongoing basis from the sale of the generated electricity as well as from regulated grid fees. Unlike a precious metal, this tangible asset worksand generates added value.
• The returns are largely decoupled from the stock market: What a solar park consumes depends on the amount of electricity sold and its price. Since electricity is often marketed through long-term purchase agreements, cash flows can be planned over years. This makes klimaVest a complement to a custody account that is otherwise characterised by equities and bonds.
• klimaVest provides access to an asset class that has long been closed to private investors: Investments in energy infrastructure have been reserved for institutional investors for decades. As a European Long-Term Investment Fund (ELTIF), klimaVest opens this door and at the same time spreads the capital across countries, locations and technologies, which is not possible with an individual holding in a wind farm.
• Experienced asset management is behind the fund: klimaVest belongs to Commerz Real³, a wholly owned subsidiary of Commerzbank with more than 20 years of experience in the field of renewable energies. Since its launch in 2020, the fund has achieved positive performance in each financial year.²
• With klimaVest, you are supporting the expansion of the energy transition: Their capital flows into the construction and operation of wind and solar farms as well as electricity grids. Unlike buying a share, this is based on real infrastructure that physically supports Europe’s energy supply.  

In the long term, the fund management for klimaVest aims for a target return in the range of 3.0 to 4.0% per year.⁸ This expectation relates to the medium to long-term investment horizon for which the fund is designed. Part of the income is distributed annually to investors, while part remains in the fund and increases the unit value.

The actual level of return depends on the respective financial year:

In the financial year 2024/25, klimaVest achieved a return of 3.5%.²

For the current financial year, the fund management aims for a return in the range of 3.0 to 4.0%.⁸

The past years have been characterised by a challenging market environment. The fact that the fund generated reliable returns² in this phase is due to the fund management’s balanced portfolio structure, regulated remuneration models and long-term contract structures.

The long-term perspective is therefore crucial. Since the launch in 2020, klimaVest has achieved positive performance in each individual financial year.² Over the entire period since the launch, this results in a performance of 20.6%.{{fn:alle_prod_rendite_methode}} A target return remains an expectation, not a guaranteed value. It may shift due to market changes and past performance is not indicative of future returns.

klimaVest is classified in the risk class 2⁵ on the legally prescribed risk scale from 1 to 7, whereby 2 corresponds to a low risk class. This classification is based on an assumed holding period of five years.

The reason for the low rating is the structure of the fund: klimaVest invests in tangible assets whose income is largely independent of the stock market.

However, the investment is not risk-free. As wind farms and photovoltaic systems depend on certain weather conditions, certain losses can occur if they are not used for a longer period of time. Furthermore, the value of the assets may fluctuate and there may be no distributions due to lack of liquidity.

You can find a complete overview of the opportunities and risks here.