EnBW

What EnBW does

EnBW Energie Baden-Württemberg AG is one of Germany's largest integrated energy companies, headquartered in Karlsruhe and operating across the full energy value chain from generation through transmission and distribution to retail. The company is organized in three reporting segments — Sustainable Generation Infrastructure (renewable and conventional generation, district heating, trading in electricity, gas, CO2 certificates, and fuels), System-Critical Infrastructure (electricity and gas transmission/distribution via Netze BW, TransnetBW, ONTRAS, and terranets bw), and Intelligent Infrastructure for Customers (sales of electricity, gas, heat, water, and e-mobility services to roughly 5.5 million B2C and B2B end customers) — and serves residential, commercial, industrial, municipal (Kommunen), and utility (Stadtwerke) customers in Germany plus selected European markets (Czech Republic, Switzerland, Sweden, Austria, France, Denmark, Turkey).

EnBW's product portfolio spans electricity and gas retail tariffs (including 100% green electricity, dynamic tariffs tied to wholesale prices, and Kombi bundling discounts), the EnBW mobility+ app and HyperNetz fast-charging network providing access to over 1 million European charge points, the EnBW Mavi home energy management system and EnBW zuhause+ app, smart meters (intelligente Messsysteme) with 15-minute interval telemetry, utility-scale battery storage (including the 400MW/800MWh Philippsburg BESS), district heating (Fernwärme), utility-scale solar and wind (notably the 960 MW He Dreiht offshore wind farm), contracting services (plan/build/operate/finance), power purchase agreements (PPAs), direct marketing of EEG installations, battery and hydrogen marketing, and broadband/cybersecurity services for municipalities. Technology is operational rather than proprietary-IP-driven: BSI-certified smart meter gateways, OCPP-based charging roaming, OCPP 2.0.1-compatible 400 kW chargers, hydrogen-ready gas turbines, and a green financing framework aligned with the EU Taxonomy.

EnBW generates revenue through a mix of regulated grid tariffs (managed services revenue), competitive retail supply contracts (subscription/recurring revenue), per-kWh and subscription EV charging fees (usage-based), PPA and direct marketing fees (transaction/professional services), and long-term contracting arrangements. The FY2025 external revenue was €34,390 million with adjusted EBITDA of €5,072 million and gross investments of approximately €7.6 billion; the company employs ~31,541 people and trades publicly on the German exchange (EBK). The business is currently executing a €40 billion investment programme through 2030 focused on renewables, grid expansion, EV charging, and green hydrogen, funded in part through €6.7 billion in cumulative green bond issuance.

Name

EnBW

Legal name

EnBW Energie Baden-Württemberg AG

Website

https://enbw.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

EnBW is one of Germany's largest integrated energy companies, supplying electricity, gas, heat, and water to ~5.5 million B2C and B2B customers and operating regulated grid networks plus Germany's largest public EV fast-charging network.

Ownership category

akta.pro rank

Product category

Integrated Energy Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112), Electric Power Distribution (221122), Electric Power Generation (22111)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

EV Charging Network Management & Software Services (CPMS, Monitoring, Billing) (TLAKAMAG)

akta.pro secondary industries

Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF), EV Charging as DER (Managed Charging, V2G/V2B) (EUAMAJAL), EV Charger Smart Load Integration with HVAC/Electrical Systems (HSAOANAK)

Keywords

• Integrated energy supply
• Renewable power generation
• EV charging network
• Electricity grid operations
• Energy trading services

Headquarters

HQ city

Karlsruhe

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Energy Supply (Electricity, Gas, Water, Heat): EnBW supplies electricity, gas, water, and heat to approximately 5.5 million B2C and B2B customers across Germany. Revenue is generated through regulated and competitive tariff contracts with residential, commercial, and industrial customers. The segment Intelligente Infrastruktur für Kund*innen covers sales of electricity, gas, and heat to end customers.
2. Renewable Energy Generation: Generation and marketing of electricity from renewable sources (wind, solar, hydro) and conventional power plants. EnBW's subsidiary segments include Nachhaltige Erzeugungsinfrastruktur covering renewable and conventional generation, district heating, gas storage, and trading in electricity, gas, CO2 certificates and fuels.
3. Grid Infrastructure (Transmission & Distribution): EnBW operates critical infrastructure through subsidiaries including Netze BW (distribution), TransnetBW (transmission), and terranets bw. Revenue from grid operations is largely regulated under German energy law. The segment Systemkritische Infrastruktur covers electricity and gas transmission/distribution networks, water supply, and grid-related services.
4. E-Mobility and Charging Infrastructure: EnBW builds and operates public EV charging infrastructure under the EnBW mobility+ brand, providing charging services to EV drivers. Revenue generated through per-kWh charging fees, subscription plans, and B2B fleet solutions.
5. Energy Trading and Market Services: Trading in electricity, gas, CO2 certificates, and fuels. EnBW offers direct marketing for EEG (renewable energy) installations, battery marketing, power purchase agreements (PPAs), and origin certificates. Also provides hydrogen products for commercial customers.
6. Contracting and Energy Solutions: EnBW provides contracting solutions (plan, build, operate, finance) for industrial, real estate, municipal, and commercial customers. Covers energy-efficient heating, building modernization, and distributed energy infrastructure. Generates revenue through long-term service contracts.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

EnBW supplies electricity, gas, water, and district heating to approximately 5.5 million B2C and B2B customers in Germany and other European markets, operates the country's largest public EV fast-charging network through EnBW mobility+/HyperNetz, and generates and trades electricity from renewable and conventional sources. Its offerings include regulated grid services via Netze BW and TransnetBW, residential and commercial energy supply tariffs, smart home energy management (EnBW Mavi, Smart Meter, zuhause+ app), utility-scale battery storage, offshore wind (He Dreiht), green hydrogen/ammonia, PPAs for corporate decarbonization, contracting for industry and municipalities, and cybersecurity for critical infrastructure.

Product overview

EnBW Energie Baden-Württemberg AG is a vertically integrated German energy company organized across three operational segments: Sustainable Generation Infrastructure, System-Critical Infrastructure, and Intelligent Infrastructure for Customers. The company operates as a multi-product energy platform offering electricity, gas, and heating supply alongside digital services and infrastructure solutions. Core products include the EnBW mobility+ app providing access to over 900,000 public EV charging points across Europe through roaming partnerships; the EnBW zuhause+ app for home energy management; EnBW Mavi as a Heim-Energie-Management-System (HEMS) for automated household energy optimization; smart meters (Intelligentes Messsystem) with certified gateways enabling dynamic tariffs; the EnBW HyperNetz fast-charging network (Germany's largest public charging network operator); EnBW collect loyalty program; and the EnBW E-Mobilitäts-Kombi combined charging product. Infrastructure offerings span EnBW Contracting (planning, building, operating, and financing energy infrastructure), energy generation from renewables and conventional sources, battery storage systems (BESS) including utility-scale projects like the 400MW/800MWh Philippsburg facility, power purchase agreements (PPA), hydrogen solutions for decarbonization, direct marketing for EEG installations, origin certificates, battery marketing services, telecommunications and broadband, cybersecurity for critical infrastructure, and district heating (Fernwärme). Subsidiary brands include SENEC (residential battery storage) and Yello Strom (retail energy brand). The company targets both B2C retail customers (approximately 5.5 million) and B2B commercial customers across Germany and select European markets.

Differentiator

Problem solved

Functional benefit

Brands

• EnBW mobility+: EV charging app and public charging network access service
• EnBW Mavi
• EnBW HyperNetz
• EnBW collect
• EnBW to go

Products and services

• EnBW mobility+ App Smartphone application providing EV drivers access to over 900,000-1 million public charge points across Europe through roaming partnerships with multiple charging networks. Includes EnBW collect loyalty points and AutoCharge automatic plug-and-charge functionality.
• EnBW zuhause+ App Mobile application for home energy management enabling customers to track energy consumption and costs, manage tariffs, and access customer services for residential energy supply contracts.
• EnBW Mavi Home Energy Management System (HEMS) Heim-Energie-Management-System (HEMS) providing real-time tracking of household electricity consumption and costs, enabling automated and efficient energy management for residential customers.
• Smart Meter (Intelligentes Messsystem) Digital electricity meter with certified BSI Smart Meter Gateway that automatically captures and transmits consumption data in 15-minute intervals to enable dynamic and time-variable electricity tariffs for residential and commercial customers.
• EnBW HyperNetz Public Fast-Charging Network Germany's largest public fast-charging network providing high-power EV charging infrastructure with ultra-fast chargers up to 400 kW, powered by 100% renewable electricity. Accessible via EnBW mobility+ app or contactless payment.
• EnBW E-Mobilitäts-Kombi Combined E-mobility product offering bundled benefits for charging at home and on the road through the Energiewelt advantages program for residential customers.
• EnBW Wallbox (Home Charging Solution) Home charging station solution including wallbox hardware (11 kW or 22 kW options) and installation services, supported by the EnBW Ladestrom home charging tariff for residential customers.
• EnBW Solar (Photovoltaic Installations) Photovoltaic solar installations for residential and commercial properties, including solar panels, installation services, and post-EEG management solutions.
• EnBW Intelligente Stromtarife (Smart Electricity Tariffs) Smart electricity tariffs including dynamic tariffs (EnBW Strom dynamisch) and time-variable tariffs (EnBW Strom SparZeit) that adapt to market prices, requiring Smart Meter for optimal functionality.
• EnBW Kombi-Tarif (Combined Energy Tariff) Combined electricity and gas tariff offering 100% green electricity, energy from a single provider, and 5% combination discount through the Energiewelt program for residential customers.
• EnBW Contracting Energy contracting services covering planning, construction, operation, and financing of energy infrastructure (heating, building modernization, distributed energy) for industrial, real estate, and municipal customers.
• Battery Energy Storage System (BESS) - Utility-Scale Large-scale battery storage solutions for grid services, renewable integration, and energy trading, including the 400MW/800MWh Philippsburg Energy Park facility built without subsidies.
• EnBW Power Purchase Agreements (PPA) Tailored long-term electricity procurement contracts from renewable energy sources for business customers, exemplified by the 15-year Google PPA for 100 MW from He Dreiht and the 10-year Siemens Energy PPA for the Frankenförde solar park.
• EnBW Wasserstoff (Hydrogen Solutions) Hydrogen solutions for decarbonization processes, including participation in hydrogen infrastructure development (e.g., Hydrogen Valley in Sweden via Libra Horizon JV, Yanbu green ammonia export corridor) and supply arrangements for commercial customers.
• EnBW Direktvermarktung (Direct Marketing for EEG) Direct marketing services for EEG (Renewable Energy Sources Act) installations enabling feed-in tariff optimization and market premium access for renewable energy operators.
• EnBW Herkunftsnachweise (Origin Certificates) Trade in labels for green energy, including origin certificates verifying renewable energy sourcing for sustainability claims.
• EnBW Batterievermarktung (Battery Marketing) Battery marketing services providing flexible battery storage solutions for grid optimization and energy market participation.
• EnBW Fernwärme (District Heating) District heating services providing clean energy for building heating through centralized heating networks for residential and commercial customers.
• EnBW Cyber Security Cybersecurity services for critical infrastructure and municipal administration.
• EnBW Smart Energy (Energy Procurement) Intelligent energy procurement solutions for mid-size businesses offering dynamic, transparent, and plannable energy purchasing.
• EnBW immo+ (Real Estate Industry Package) Complete package for the real estate industry including energy supply, charging infrastructure, and broadband services for residential properties and housing companies.
• SENEC Residential Battery Storage Leipzig-based energy storage subsidiary offering residential and commercial battery storage solutions and cloud-based energy storage services, originally acquired from Deutsche Energieversorgung in 2017 and now undergoing a strategic investor search.
• EnBW Retail Electricity & Gas Supply (B2C / B2B) Core energy supply of electricity, gas, water, and heat to approximately 5.5 million B2C and B2B customers across Germany under regulated and competitive tariff contracts, covering residential, commercial, and industrial customers.

Quantifiable outcome

• He Dreiht offshore wind farm will generate ~3.6 billion kWh annually, enough to power ~1.1 million households
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Venture GlobalcoreStrategic or Co-development Partner · 17 June 2026EnBW secured approximately 820,000 tonnes per annum of US liquefied natural gas from Venture Global under new binding agreements for about five years starting in 2026. This supplements existing long-term agreements for 2 MTPA over 20 years, deepening the partnership as one of Germany's top LNG suppliers.
• XCharge (for C7 fast charger deployment)coreTechnology or Integration · 17 June 2026EnBW, as Germany's largest public fast-charging network operator, officially listed XCharge as a supplier and deployed the C7 DC fast-charging station (up to 480 kW) in its network following a successful field test period.
• RS DivingminorImplementation/ SI/ Consulting Partner · 7 April 2026EnBW awarded framework agreements for subsea inspection services to RS Diving Contractor covering offshore wind farms in the Baltic Sea and North Sea (Baltic 1, Baltic 2, Hohe See, Albatros, He Dreiht). Contracts valued at over €7.2 million, running until March 31, 2031.
• EdenredcoreStrategic or Co-development Partner · 1 April 2026EnBW and Edenred partnered to provide a combined electric fleet management solution in Germany, targeting fleet managers transitioning to electric and hybrid vehicles. The collaboration leverages EnBW's HyperNetz fast-charging network and Edenred's automotive services platform, with planned launch in late 2026.
• Eurowind EnergyminorChannel Partner/ Reseller/ Distributor · 20 March 2026EnBW agreed to sell Connected Wind Services Denmark (Denmark's largest independent wind turbine service provider) to Eurowind Energy, pending competition authority approval. Connected Wind Services Denmark operates approximately 1,000 turbines with 100+ staff and 35 years of experience, generating DKK 191 million revenue in 2025.
• Connected Wind Services DenmarkminorOthers · 20 March 2026Connected Wind Services Denmark, Denmark's largest independent wind turbine service provider, operated as an EnBW subsidiary. EnBW sold the company to Eurowind Energy in March 2026, pending regulatory approval. The company services approximately 1,000 wind turbines with 100+ technicians.
• XChargecoreTechnology or Integration · 24 February 2026EnBW and XCharge signed a multi-year framework agreement for 400 kW ultra-fast charging stations and joint hardware/software development. Partnership builds on a successful two-year field test involving 10 XCharge C7 Ultra-Fast Chargers completing over 20,000 charging processes with high reliability. EnBW aims to add 12,000 fast-charging ports in four years with XCharge as a key supplier.
• GooglecoreStrategic or Co-development Partner · 6 February 2026Google signed a 15-year PPA with EnBW to purchase 100 MW of electricity from the He Dreiht offshore wind farm, supporting Google's goal of operating on 24/7 carbon-free energy by 2030 and decarbonizing operations in Germany.
• ACWA PowercoreStrategic or Co-development Partner · 2 February 2026EnBW, ACWA Power, Rostock Port, and VNG partnered to develop a green ammonia export corridor from Yanbu, Saudi Arabia, to the Port of Rostock in Germany. The project aims to produce green ammonia for conversion to hydrogen, targeting operations by 2030 and supporting Germany's decarbonization efforts and energy security.
• Libra Horizon (Joint Venture: EnBW Sverige and Scandinavian Horizon)minorStrategic or Co-development Partner · 26 January 2026Libra Horizon, a joint venture between EnBW Sverige and Scandinavian Horizon, leads Sweden's first large-scale Hydrogen Valley project (EU-funded). EnBW's subsidiary is responsible for hydrogen production, coordinating nodes targeting at least 4,000 tonnes of green hydrogen by 2030, including a 5 MW electrolyzer in Trollhättan starting 2028.
• Siemens EnergycoreStrategic or Co-development Partner · 1 January 2026EnBW and Siemens Energy signed a 10-year PPA for the Frankenförde photovoltaic plant in Brandenburg, Germany. The solar park supplies Siemens Energy with up to 40 GWh of green electricity annually, covering nearly a quarter of Siemens Energy's German electricity requirements starting January 1, 2026.
• DHLminorStrategic or Co-development Partner · 16 June 2025EnBW provides a green power contract for offshore wind energy to DHL, supplying renewable electricity to support DHL's logistics decarbonization objectives.
• MasdarminorStrategic or Co-development Partner · 8 May 2025EnBW and Masdar (UAE renewable energy company) signed a strategic MoU to explore energy storage and green hydrogen projects across Europe, advancing cross-border clean energy collaboration.
• Skipavika Green Ammonia (SkiGA)minorStrategic or Co-development Partner · 1 September 2023EnBW acquired a 10% stake in Norway-based Skipavika Green Ammonia (SkiGA), securing long-term offtake rights for ammonia produced from renewable resources. EnBW also markets green ammonia from the SkiGA project in Norway.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• E.ON: E.ON is Germany's largest distribution-focused utility and a direct competitor to EnBW across retail electricity/gas, B2B energy solutions, smart metering, and EV charging networks. Both companies serve residential and B2B customers in Germany with similar integrated value propositions centered on the Energiewende.
• RWE: RWE is Germany's other major integrated utility and EnBW's closest large-cap peer, competing directly in offshore wind (RWE is also a top-3 global offshore wind developer), renewable generation, and trading. Both companies are pursuing utility-scale renewable buildouts and PPAs with European industrials.
• Vattenfall: Vattenfall is a Swedish state-owned integrated utility with operations across generation, distribution, and retail across Northern Europe, including Germany. Direct overlap with EnBW in offshore wind development, district heating, retail electricity supply, and EV charging (InCharge network).
• Uniper: Uniper is a major German energy company with significant generation, trading, and gas operations, now majority-owned by the German government. Comparable to EnBW in conventional generation, energy trading, and B2B energy supply, though more weighted toward gas and thermal.
• Ørsted: Ørsted is the global leader in offshore wind and a benchmark for utility-scale renewable transformation. While primarily Danish/UK/US-focused, it shares with EnBW the playbook of divesting oil & gas to fund renewables, signing hyperscaler PPAs, and building utility-scale green hydrogen.

Broad incumbents

• Iberdrola: Iberdrola is one of the world's largest renewable utilities, with comparable offshore wind, solar, B2B PPA, and smart metering programs. While geographically focused on Spain/UK/US, it competes for the same hyperscaler PPA demand and represents a global benchmark for integrated renewable utilities that EnBW aspires to scale toward.
• EDF (Électricité de France): EDF is a major European integrated utility with significant generation, distribution, retail, and emerging hydrogen operations. Comparable to EnBW in nuclear/fleet transition strategy, regulated French distribution, and corporate PPA offerings to industrial customers in adjacent markets.
• Statkraft: Statkraft is Europe's largest generator of renewable energy (state-owned, Norwegian), with major hydropower and wind operations and a growing market-making/trading business. Comparable to EnBW in merchant renewable exposure, trading capabilities, and PPA origination for European corporates.
• Engie: Engie is a major French multinational utility operating across generation, distribution, and services in Europe and globally. Comparable to EnBW in district heating networks, B2B energy services, renewable build-out, and gas/LNG trading — though EnBW is smaller and more Germany-centric.

Regional players

• Verbund: Verbund is Austria's leading integrated utility with strong hydroelectric generation and grid operations, serving a comparable mix of retail and B2B customers in the DACH region. Comparable to EnBW in integrated generation+grid+retail model and DACH focus, though Austria-focused rather than Germany-centric.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/EnBW
• YouTubeyoutube.de/enbw
• Facebookfacebook.com/EnBW
• LinkedInlinkedin.com/company/18490
• Instagraminstagram.com/enbw_ag

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries16 records

Funding overview

Funding rounds4 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EnBW