ONYX Power

What ONYX Power does

Onyx Power is a European thermal power generator operating four coal and biomass power plants across Germany (Berlin HQ) and the Netherlands with approximately 2,000 MW of installed capacity. The portfolio includes the Rotterdam (731 MW) and Wilhelmshaven (726 MW) hard-coal plants commissioned in 2015, the Zolling multi-fuel energy park (472 MW coal from 1986 plus a 21 MW biomass cogeneration unit from 2003), and the Farge site now being decommissioned after coal generation ended in March 2024. The technology stack centers on conventional thermal generation, with distinct technical features including Zolling's black-start capability, biomass cogeneration with on-site sewage sludge drying, and deep-water port infrastructure at Rotterdam and Wilhelmshaven enabling future LNG and hydrogen integration.

The business model operates as a B2B energy utility, generating revenue through three streams: (1) wholesale electricity sales to grid operators and the German/Dutch wholesale markets, supplying dispatchable capacity that complements intermittent renewables; (2) district heating supplied via combined heat and power to municipal networks and large customers such as Munich Airport (~31 MW thermal) and Freising under contracts running to 2030; and (3) capacity reserve and grid stability services, including the Zolling network reserve contract with Bundesnetzagentur through March 2031. Onyx Power is registered as Onyx Germany GmbH, is headquartered in Berlin (Bertolt-Brecht-Platz 3), and was acquired in February 2026 by ResInvest Group, a Prague-based private trading and investment company. The stated corporate strategy targets cessation of coal generation across all sites by 2030 and conversion to climate-neutral energy parks, including a planned 800 MW hydrogen-ready gas turbine project at Zolling supported by a May 2026 Bavarian state government letter of intent and a June 2025 hydrogen pipeline connection agreement with Open Grid Europe at Wilhelmshaven.

Name

ONYX Power

Legal name

Onyx Germany GmbH

Website

https://onyx-power.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

101–250 employees

Short description

Onyx Power is a Berlin-based European thermal power generator operating four coal and biomass plants totaling about 2,000 MW across Germany and the Netherlands. It sells wholesale electricity, district heating, and grid stability services to grid operators, municipalities, and industrial customers including Munich Airport.

Ownership category

akta.pro rank

Product category

Thermal Power Generation

NAICS

Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)

SIC

Cogeneration Services & Small Power Producers (4991), Electric Services (4911)

akta.pro primary industry

Heat Recovery & Thermal Integration for Biomass Plants (Economizers, ORC, Heat Exchangers) (EUAAAGAL)

akta.pro secondary industries

Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI), Gas-Fired Power Plant O&M and Life-Extension/Repowering Services (EUACABAJ)

Keywords

• Thermal power generation
• District heating supply
• Biomass cogeneration
• Grid stability services
• Wholesale electricity generation

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Electricity Generation and Wholesale Sales: Onyx Power generates electricity through its thermal power plants (coal, biomass, gas) and sells electricity to the wholesale energy market and grid operators in Germany and the Netherlands. The plants provide weather-independent, controllable power generation complementing volatile renewable energy sources.
2. District Heating Sales: Through combined heat and power (CHP) technology, Onyx Power supplies district heating to local networks including Munich Airport (approximately 31 MW thermal capacity) and the city of Freising. Long-term supply agreements exist with Fernwärmeversorgung Freising GmbH and Bayernwerk Natur GmbH.
3. Capacity Reserve and Grid Stability Services: Onyx Power participates in capacity markets and grid reserve contracts. The Zolling plant was transferred to network reserve until 2031, maintaining availability for grid security commands from transmission system operators to address grid congestion or system balance issues.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

ONYX Power operates thermal power plants (coal, biomass, gas) at four sites in Germany and the Netherlands with approximately 2,000 MW of installed generation capacity. The company sells electricity to wholesale markets and grid operators, supplies district heating via combined heat and power (CHP) to municipal networks and industrial customers such as Munich Airport, and provides grid stability and capacity reserve services to transmission system operators. It is transitioning its portfolio toward biomass and hydrogen-ready gas turbines, with a planned 800-MW hydrogen-ready gas power plant at Zolling.

Product overview

ONYX Power is a European thermal energy company operating a portfolio of four coal and biomass power plants across Germany and the Netherlands with approximately 2,000 MW of installed generation capacity. The company offers fossil fuel-based electricity generation, district heating services via combined heat and power (CHP) technology, and sustainable biomass energy production. Their power plant portfolio includes Kraftwerk Rotterdam (731 MW), Kraftwerk Wilhelmshaven (726 MW), Kraftwerk Zolling (472 MW coal + 21 MW biomass), and Kraftwerk Farge (350 MW, decommissioned 2024). The company is transitioning its operations toward climate-friendly technologies, including plans for an 800-MW hydrogen-ready gas turbine power plant in Bavaria and biomass conversions.

Differentiator

Problem solved

Functional benefit

Products and services

• Kraftwerk Rotterdam
• Kraftwerk Wilhelmshaven

Quantifiable outcome

• 5.5 billion kWh electricity produced per year at Rotterdam and Wilhelmshaven plants
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Open Grid Europe GmbH (OGE)coreStrategic or Co-development Partner · 5 June 2025Onyx Power signed an agreement with gas network operator OGE for potential connection to the Wilhelmshaven Coastal Hydrogen Pipeline. This secures the opportunity to connect to the core network and supply hydrogen to the German transport network upon completion planned for 2027. The pipeline is part of the German hydrogen core network approved by the German government and Bundesnetzagentur.
• ENERGY HUB Port of WilhelmshavenminorStrategic or Co-development PartnerOnyx Power receives support from the ENERGY HUB Port of Wilhelmshaven association, which is working to establish a hydrogen economy in the Friesland region.
• Fernwärmeversorgung Freising GmbHcoreStrategic or Co-development PartnerPartnership for district heating supply from Zolling biomass cogeneration plant to the city of Freising and surrounding area. New contract signed extending district heating delivery to 2030.
• Bayernwerk Natur GmbHcoreStrategic or Co-development PartnerJoint operation of sewage sludge drying facility at the Zolling power plant site, contributing to circular economy and resource efficiency.
• Better Coal InitiativeminorOthersOnyx Power is a member of the Better Coal Initiative, an association of European companies working to improve the sustainability of supply chains in the coal industry. The company follows 12 sustainability criteria when purchasing coal.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Steag: German municipal utility-owned operator of hard coal and biomass power plants with district heating supply. Closest direct peer to Onyx in terms of coal/biomass CHP assets and German regulatory exposure.
• EPH (Energetický a průmyslový holding): Czech private energy group with coal and biomass generation across Central Europe. Direct peer via similar asset profile (coal/biomass IPP, CHP) and parallel central European coal-transition strategy.

Broad incumbents

• RWE: One of Europe's largest power generators with lignite and gas plants in Germany. Comparable portfolio mix of coal-to-renewables transition, district heating exposure, and German merchant generation footprint.
• EnBW: German integrated utility with coal/gas generation, district heating, and large renewables build-out. Comparable in the coal-to-hydrogen transition narrative and German CHP/district heating exposure.
• Uniper: Major German energy company operating large-scale coal, gas and hydro generation. Comparable as a thermal-generation-heavy incumbent undergoing coal phase-out and hydrogen transition; previously divested Datteln 4 to ResInvest.
• E.ON: Major German distribution and customer solutions operator with CHP/district heating expertise (Onyx COO is ex-E.ON). Comparable in district heating networks and German grid services exposure.
• Vattenfall (Germany operations): Swedish state-owned utility operating lignite generation and district heating in Germany (e.g., Berlin). Comparable in coal-fired dispatchable generation and CHP/district heating revenue mix under Energiewende pressure.

Regional players

• Fortum: Nordic energy group with combined heat and power, biomass, and coal-to-clean transition exposure. Comparable in CHP/district heating operations and thermal generation decarbonization strategy.
• PGE Polska Grupa Energetyczna: Polish state-controlled utility with hard coal and biomass generation plus district heating. Comparable in coal-heavy generation mix and CHP/district heating revenue, though operating primarily in Poland.

Emerging players

• Dalkia (EDF Group): European district heating and energy services operator under EDF. Comparable for CHP/district heating customer model and biomass/heat network decarbonization pathways.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/onyx-power

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about ONYX Power