Verdane realises investment in Cleanwatts
Former Verdane portfolio company Cleanwatts, a pioneering Portuguese company in Energy Communities, has a new shareholder: an infrastructure fund managed by DWS, one of the world’s leading asset managers, with approximately 60 years of experience and a presence in Europe, the Americas, Asia-Pacific, and the Middle East.
DWS’s entry, which will give it 100% ownership of Cleanwatts, foresees an investment of approximately €150 million by 2030, based on the objectives of the National Energy and Climate Plan (PNEC), which anticipates growth in decentralized generation exceeding that of other European countries, due to the high number of solar hours and regulations favorable to the Energy Communities ecosystem.
Generating renewable energy at a competitive price close to consumption points, keeping pace with increased demand due to the growing electrification and digitalization of the economy, leveraging the use of batteries to reduce costs, and significantly mitigating the contribution of greenhouse gases in mass consumer products are among the priorities of both companies.
“DWS and Cleanwatts are aligned in simplifying the energy transition for companies, through the installation of photovoltaic plants without investment for clients, so that they can consume energy at a competitive and predictable cost in the long term. At the same time, we will offer optimization and performance to exploit the plants in the best way and produce the maximum energy with the available sun. Another priority is strengthening technical expertise, with a strong engineering department capable of sizing and monitoring high-yield plants,” says Cleanwatts CEO, Pedro Antão Alves.
In DWS’s portfolio, specifically in the area of infrastructure, there are other investments aligned with the energy transition and sustainability, such as wind and photovoltaic generation assets in Sweden, Germany, and Spain. The investment in Cleanwatts and in Portugal reflects the potential of both the company and the country within the framework of individual and collective self-consumption regulations, as outlined in the PNEC 2030 (National Energy and Climate Plan 2030).
“Portugal is a sophisticated country in terms of energy regulation. The investment facilitated by DWS allows for the implementation of innovative decarbonization projects on a local scale and, in the future, could leverage Cleanwatts’ Energy Communities management platform for the use of other technologies or for other European countries, where regulation could evolve towards a model similar to the Portuguese one,” notes DWS partner Miguel Horta e Costa.
European private equity firm Verdane, the former majority owner of Cleanwatts, realised its investment in the business as part of this transaction.
Reed Snyder, Principal at Verdane, said: “We’re confident that DWS is the right partner for the next stage of Cleanwatts’ growth and we look forward to seeing the company’s continued progress.”
Beka M&A acted as sole financial adviser to Verdane in connection with the transaction.
The benefits of energy communities
Energy Communities have a significant economic and social impact, as they allow for more competitive pricing for anchor customers, typically industries and commercial buildings, and provide lower prices for individual consumers in the neighborhood.
“Energy Communities provide lower costs for everyone – anchor customers and members – compared to individual self-consumption. With DWS, we reinforce Cleanwatts’ positioning as a facilitator of the challenges of the energy transition, providing an effective response to the needs of companies, both in the industrial and retail sectors. Our customers can also play an active social role within their communities by sharing surplus energy production at prices lower than those practiced in the market,” summarizes Cleanwatts CEO, Pedro Antão Alves.
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About Verdane
Verdane is a specialist growth buyout investment firm that partners with tech-enabled and sustainable businesses that help to digitalise and decarbonise the European economy. The flexible mandates of Verdane funds allow it to invest as a majority or minority control investor, replacement or growth capital, in single companies or in portfolios of companies.
Verdane has raised €9 billion in capital and its funds have made more than 200 investments in fast-growing businesses since 2003. Verdane’s team of over 150 investment professionals and operating experts is based out of Berlin, Copenhagen, London, Helsinki, Munich, Oslo and Stockholm and combines deep sector expertise with long-standing local networks and presence in core European markets.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
About Cleanwatts
Cleanwatts is a climate technology company focused on improving society’s relationship with energy where it is most needed: locally. Its mission is to decentralize, digitize, and democratize access to clean energy. In August 2021, Cleanwatts created Portugal’s first renewable energy community in Miranda do Douro. Currently, it has approximately 70 energy communities under approval and in operation in Portugal, with a total photovoltaic solar capacity of around 30 MWp.
About DWS
DWS is a leading infrastructure investor with a global reach, international reputation, and a long-term investment horizon. The infrastructure team is part of DWS Group GmbH & Co. KGaA, a world-renowned, publicly traded independent asset manager (ETR: DWS) with €1,045.4 billion in assets under management (as of September 30, 2025), built on over 60 years of experience and a reputation for excellence in Germany and the rest of the world.
The DWS infrastructure team has an investment track record of approximately 25 years, having acquired over 100 assets across the entire infrastructure spectrum, encompassing all sub-sectors from transport, renewable energy and energy efficiency companies, waste management and environmental services, midstream energy, and digital infrastructure in Europe, Asia, and the Americas, supported by a global team of approximately 70 professionals.