ICG, the global alternative asset manager, today announced that its European Infrastructure team (“ICG Infra”) has entered into a partnership with W Power Storage (“W Power” or “the Company”), a German platform specialising in grid-scale battery energy storage systems (“BESS”), alongside its founders, management team and shareholder, Wirth Group. With ICG’s backing, the platform plans to deploy up to €500m to deliver its multi-gigawatt BESS project pipeline, with projects already in operation and under construction.
Headquartered in Heidelberg, Germany, with a team of more than 50 professionals, W Power combines expertise in land acquisition, permitting, engineering, construction and the operation of grid-scale BESS. As renewable penetration accelerates, the demand for flexibility solutions is becoming increasingly critical, amid an undersupply of battery capacity. W Power’s battery storage assets will play a crucial role in reducing reliance on fossil-based balancing energy, enabling greater renewable integration and reinforcing grid resilience. In addition, the platform will contribute to meeting the objectives of the EU Green Deal and Germany’s climate neutrality targets.
The newly formed partnership adds to ICG Infra’s existing portfolio of assets in the energy transition sector, having previously invested in Enfinity Global and CVE, among others.
Frank Heiss, Managing Director, European Infrastructure at ICG, commented:
We are delighted to announce our newly formed partnership with W Power. Battery storage is a key pillar of the energy transition, underpinning grid stability, supply security and the integration of renewable energy. W Power has proven development and execution capabilities, a robust pipeline of existing opportunities and strong growth potential. We look forward to working with the management team and our co-shareholders to help accelerate the Company’s next phase of growth and establish it as a leading Independent Flexibility Provider.
Andreas Wirth, Shareholder, Wirth Group, added:
With ICG, we have gained a partner that combines long-term financial strength with strategic expertise and deep experience. This enables W Power Storage to deliver system-critical storage projects in Germany.
Christian Dornisch, Managing Director at W Power Storage, commented:
This partnership positions W Power Storage to become a driving force in transforming how power systems are built and operated. By scaling grid-scale battery storage at speed, we are building the foundation for new, decentralised energy structures, strengthening resilience at every grid level and setting a new standard for flexibility, stability and system security in the energy transition.
ICG Infra was advised by CASE CASSIOPEA and ABN AMRO Bank (M&A), Hogan Lovells (legal), AFRY (commercial & technical), Deloitte (financial & tax).
Wirth Group was advised by Paul Hastings (legal), EGSZ (tax).
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For further information please contact:
Clare Glynn
Head of Corporate Communications
+44 20 3545 1395
[email protected]
Maisie Le Masurier
Corporate Communications
+44 20 3545 1624
[email protected]
About ICG
ICG (LSE: ICG) is a global alternative asset manager with $124bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets. Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn.
*As at 30 September 2025.
About ICG Infra
ICG European Infrastructure manages more than €5bn in Europe and seeks to partner with successful management teams and founders, to provide growth capital to mid-market businesses across the energy transition, digital and mobility sectors. The team leverages ICG’s DNA of bespoke capital solutions, investing across capital structures in equity and structured equity instruments creating a defensive risk-return profile for its portfolio whilst seeking to deliver consistent returns for its investors.
About W Power Storage
Based in Heidelberg, Germany, W Power operates a vertically integrated platform with expertise in land acquisition, permitting, engineering, construction and operation of large-scale battery storage systems. It has a multi-gigawatt pipeline in Germany and aims to become a leading Independent Flexibility Provider (IFP). Since its creation in 2021, W Power has leveraged the support and expertise of the Wirth Group to reach its current stage of growth.
About Wirth Group
The Wirth Group, headquartered in Waghäusel, Germany, is a family-owned entrepreneurial group, led by Andreas and Markus Wirth. The Group focuses on real estate, renewable energy, and the development and operation of sustainable energy and infrastructure projects across Germany and Europe. Guided by a long-term investment philosophy, entrepreneurial independence, and close partnerships with municipalities, utilities, and institutional partners, the group contributes to the energy transition, regional value creation, and long-term supply security.
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