Blue Elephant Energy
Blue Elephant Energy is a Hamburg-based utility-scale renewable energy developer and operator with a 2,107 MW solar, wind, and battery storage portfolio across nine countries, serving corporate energy buyers such as Deutsche Bahn through long-term power purchase agreements.
- Company typePrivate
- Founded2016
- HeadquartersHamburg, Germany
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Blue Elephant Energy does
Blue Elephant Energy GmbH is a Hamburg-headquartered renewable energy developer, acquirer, and operator founded in 2016 by CEO Felix Goedhart, a former CEO of Capital Stage AG (now ENCAVIS AG). The company develops, acquires, and operates utility-scale solar parks, onshore wind farms, and battery energy storage systems (BESS) across nine countries — Germany, the Netherlands, France, Spain, Italy, Greece, Hungary, the Dominican Republic, and Chile — with a focus on Western and Central Europe. Its 2,107 MW portfolio is split 74% photovoltaic, 25% wind, and 1% battery storage, and includes the largest solar park operator position in the Netherlands at more than 660 MWp. An additional 9,580 MW of solar and storage capacity has been secured through cooperation agreements with project developers and landowners.
The business operates three interlocking revenue streams: renewable energy generation sold to wholesale grids and corporate offtakers under long-term Power Purchase Agreements (PPAs); project acquisitions from developers at a minimum 10 MW scale; and project development services, including the first self-developed greenfield solar park (Ensthof, 7.62 MW, commissioned July 2024) and the first standalone BESS project (Merseburg, 12 MW / 16.8 MWh, December 2024). The go-to-market is B2B enterprise sales to four segments — corporate energy buyers, project developers, landowners, and institutional financing partners — anchored by a multi-year PPA with Deutsche Bahn covering 319 MW of solar capacity and 70% of its traction power from renewables.
The company is majority-owned (~70%) by Antin Infrastructure Partners since August 2022 and received a €200 million (US$214 million) growth investment from Infranity in June 2025 to fund a 1 GW renewable energy pipeline across Europe. Management is unusually deep for a company at this stage: the CIO also came from Capital Stage, the new COO Malte Hippe joined from Orsted (formerly MD Germany / VP Operations Central Europe) and BCG, and the CFO was promoted internally from Head of Corporate & Project Finance.
Blue Elephant Energy firmographics
Firmographics- Name
- Blue Elephant Energy
- Legal name
- Blue Elephant Energy GmbH
- Website
- https://blueelephantenergy.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Blue Elephant Energy is a Hamburg-based utility-scale renewable energy developer and operator with a 2,107 MW solar, wind, and battery storage portfolio across nine countries, serving corporate energy buyers such as Deutsche Bahn through long-term power purchase agreements.
- Ownership category
- akta.pro rank
Blue Elephant Energy industry classification
Industry- Product category
- Renewable Energy Generation
- NAICS
- Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111)
- SIC
- Cogeneration Services & Small Power Producers (4991), Electric Services (4911)
- akta.pro primary industry
- Renewable Energy Infrastructure (FSAAAKAG)
- akta.pro secondary industries
- Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal) (EUAEAMAB), Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ)
Keywords
Where Blue Elephant Energy is headquartered
LocationHeadquarters
- HQ city
- Hamburg
- HQ country
- Germany
- HQ region
- Europe
Offices2 records
Markets served
Blue Elephant Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales
Revenue model
- Renewable Energy Generation: Operating solar parks and wind farms that generate electricity sold through PPAs or to the grid. Plants produce stable and highly predictable earnings. Generation capacity consists of 74% PV, 25% wind, and 1% battery storage.
- Power Purchase Agreements (PPAs): Long-term electricity supply contracts with corporate customers like Deutsche Bahn. Provides cost-efficiency through fixed or flexible pricing, environmental friendliness with guarantees of origin, risk minimization against energy price fluctuations.
- Project Development Services: Develops greenfield solar projects from site surveys to full approval and commissioning. Offers market-related project development fees to external partners. First self-developed solar park commissioned in July 2024.
- Project Acquisitions: Acquires operational or ready-to-build solar and wind projects from developers. Purchase of 381MW onshore wind portfolio from WIND-projekt. Expansion through M&A to increase portfolio capacity.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Blue Elephant Energy product offering
Product offeringCore offering
Blue Elephant Energy develops, acquires, and operates utility-scale solar parks, onshore wind farms, and battery storage systems across nine countries (Germany, Netherlands, France, Spain, Italy, Greece, Hungary, Dominican Republic, Chile) with a 2,107 MW portfolio (74% PV, 25% wind, 1% storage). The company sells the generated electricity through long-term Power Purchase Agreements (PPAs) directly to corporate offtakers such as Deutsche Bahn, and partners with project developers, landowners, and financing institutions to build, acquire, and operate renewable energy assets.
Product overview
Blue Elephant Energy is a renewable energy developer and operator that offers a portfolio of energy generation assets and procurement services. The core offerings consist of Solar Parks (ground-mounted PV installations comprising 74% of generation capacity), Wind Farms/Onshore Wind (25% of capacity), and Battery Energy Storage Systems (1% of capacity, expanded since 2022). These assets are complemented by Power Purchase Agreements (PPAs) that enable corporate customers to procure clean energy directly. The company also develops Hybrid Parks that combine solar, wind, and storage technologies. The portfolio spans nine countries with a focus on Western and Central European markets.
Differentiator
Problem solved
Functional benefit
Products and services
- Solar Parks Utility-scale ground-mounted photovoltaic installations that generate clean electricity, representing 74% of the company's 2,107 MW portfolio capacity across nine countries. Blue Elephant Energy develops, acquires, and operates these assets for corporate offtakers under long-term PPAs and for sale into the grid.
- Onshore Wind Farms Onshore wind energy installations generating clean electricity, representing 25% of the company's portfolio capacity. Operated in Germany and other European markets, supplying corporate PPAs and the grid.
- Battery Energy Storage Systems (BESS) Large-scale battery storage solutions for storing renewable energy, complementing solar and wind generation and supporting grid stability. Represented 1% of portfolio capacity at the time of reporting, with significant expansion underway via Solar215.
- Power Purchase Agreements (PPAs) Long-term electricity supply contracts between Blue Elephant Energy and corporate offtakers, providing tailored fixed or flexible pricing, guarantees of origin, and protection against energy price volatility. Anchor agreement is a 319 MW PPA with Deutsche Bahn covering approximately 70% of its traction power.
Quantifiable outcome
- 3,758,363 tonnes CO2 saved by end of 2024
- +3 more outcomes
Companies that use Blue Elephant Energy
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles4 records
Blue Elephant Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Blue Elephant Energy partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered major and core.
- WIND-projektmajorRostock-based WIND-projekt selling 381MW onshore wind portfolio in Mecklenburg-Western Pomerania to Blue Elephant Energy. Portfolio includes 37 operational wind farms, four developments under construction, and three additional sites. Completion subject to regulatory approval expected early 2026.
- Deutsche BahncoreLong-term PPAs signed with Deutsche Bahn for two solar PV projects totaling 319MW. Projects include 266MW solar park in Bavaria and 53MW project in Baden-Württemberg, with co-located battery energy storage system planned. Deutsche Bahn covers 70% of traction power from renewables.
- Solar215majorHamburg-based project developer for large-scale battery storage systems. Blue Elephant Energy acquired a majority stake in April 2025 to accelerate battery storage strategy and expand into BESS development.
- DB EnergiecoreSecured long-term power purchase agreement to supply clean electricity to Deutsche Bahn's traction network from Schafhöfen solar park. Deutsche Bahn will use energy to power approximately 14 million train kilometers annually, covering around 70% of its traction power from renewable sources.
Scale indicators13 records
Recent moves7 records
Expansion highlights7 records
Blue Elephant Energy competitors and assessment
Company assessmentDirect peers
- Encavis AG: Hamburg-based independent power producer operating utility-scale solar parks and onshore wind farms across Europe. Most direct comparable: CEO Felix Goedhart previously built this company (then Capital Stage AG) into one of Europe's largest renewable energy producers.
- ABO Energy: German-based renewable energy project developer and operator with focus on wind, solar, and storage across Europe. Directly comparable as a mid-sized European renewable IPP with project development, acquisition, and operational capabilities.
- PNE AG: German wind and solar project developer operating across Europe with own portfolio plus project sales. Comparable business model combining greenfield development, project acquisition, and operation of utility-scale renewables.
- Sonnedix: Pan-European solar independent power producer backed by JP Morgan Global Infrastructure. Directly comparable as a pure-play European solar IPP focused on acquiring, owning, and operating utility-scale PV plants with corporate PPAs.
- Akuo Energy: France-based independent renewable energy producer developing, financing, and operating wind, solar, and storage projects across Europe and internationally. Comparable mid-sized European renewable IPP with diversified technology portfolio.
Broad incumbents
- EnBW Energie Baden-Württemberg: Large German integrated utility with a major renewable energy build-out program across solar, wind, and storage. Operates in overlapping geographies and competes for PPA customers and project pipeline but with much broader portfolio.
- RWE AG: Major European utility with one of the continent's largest renewable energy divisions (onshore/offshore wind, solar). Competes for the same corporate PPA customers and project assets but operates at far greater scale across multiple energy segments.
- EDP Renováveis: One of the world's largest renewable energy developers with significant European wind and solar operations. Overlaps in geographies and target customers but operates as a publicly listed global utility-scale developer.
- Statkraft: Europe's largest generator of renewable energy (state-owned Norwegian), with growing solar and wind portfolio across the continent. Competes in European renewable generation and PPA markets as a large incumbent.
- Vattenfall: Swedish state-owned utility with significant onshore wind, solar, and district heating operations across Northern Europe. Operates in overlapping renewable markets and competes for corporate offtake agreements.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Blue Elephant Energy social profiles
Digital presenceBlue Elephant Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Blue Elephant Energy leadership team
Management profileNumber of profiles
Profiles4 records
Blue Elephant Energy subsidiaries and ownership
Company hierarchySubsidiaries1 record
Blue Elephant Energy funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Blue Elephant Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Blue Elephant Energy
What does Blue Elephant Energy do?
Blue Elephant Energy develops, acquires, and operates utility-scale solar parks, onshore wind farms, and battery storage systems across nine countries (Germany, Netherlands, France, Spain, Italy, Greece, Hungary, Dominican Republic, Chile) with a 2,107 MW portfolio (74% PV, 25% wind, 1% storage). The company sells the generated electricity through long-term Power Purchase Agreements (PPAs) directly to corporate offtakers such as Deutsche Bahn, and partners with project developers, landowners, and financing institutions to build, acquire, and operate renewable energy assets.
Is Blue Elephant Energy a public or private company?
Blue Elephant Energy is a private company. It is classified as private equity controlled and is currently operating.
When was Blue Elephant Energy founded?
Blue Elephant Energy was founded in 2016. It employs 51 to 100 people.
Where is Blue Elephant Energy based?
Blue Elephant Energy is headquartered in Hamburg, Germany, in the Europe region.
How does Blue Elephant Energy make money?
Four revenue lines are on record. Renewable Energy Generation is the primary driver. The others are power Purchase Agreements (PPAs), project Development Services and project Acquisitions.
Who are Blue Elephant Energy's main competitors?
Direct peers on record are Encavis AG, ABO Energy, PNE AG, Sonnedix and Akuo Energy. Broad incumbents are EnBW Energie Baden-Württemberg, RWE AG, EDP Renováveis, Statkraft and Vattenfall.
Does Blue Elephant Energy have an API?
No public API is recorded for Blue Elephant Energy.
What industry is Blue Elephant Energy in?
Blue Elephant Energy's product category is Renewable Energy Generation. Its primary akta.pro industry code is FSAAAKAG, Renewable Energy Infrastructure, with a secondary code of EUAEAMAB, Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal). Its NAICS code is 221114 and its SIC code is 4991.