75 percent of the German energy cooperatives finance their renewables projects in cooperation with one of Germany’s 1,047 cooperative banks (Volksbanken, Raiffeisenbanken). This is one of the findings of the DGRV survey on energy cooperatives this year. In total, cooperatives have already invested around 1,67 billion euros in renewables. They have an average seed capital of 560.000 euros.
The strategy of most energy cooperatives is to focus on both renewables and regional value added. The production of renewable energy is also intended to support the region and feed the profits back into the community. Cooperatives adhere to the traditional principal of the rural Raiffeisenbanks: ‘the money of the village for the good of the village’. Accordingly, local project developer, craftsmen and other service businesses are responsible for installing and maintaining the technical facilities. And, usually, a regional cooperative bank handled the loan arrangement. The community also benefits from additional trade tax income.
More about energy cooperatives in Germany
More about the German Cooperative Financial Network