Dulig wants investment company for energy conversion

Saxony's Minister of Economic Affairs, Martin Dulig (SPD), wants to promote the conversion of the energy supply to climate neutrality through a Saxon investment company. "Everyone wants investment to finally take place," said Dulig in Dresden. The question now is how to get started. It is about investing now and not in ten or 20 years' time, said Dulig. "We have a time problem. The world is not waiting for us to make progress in Europe."

A report commissioned by the Ministry of Economic Affairs from auditing firm PwC last November assessed the proposal for a Saxon investment company as sensible and correct. "Massive investments are needed to achieve the climate policy goals," said Henry Otto, Managing Director of the Energy division at PwC and the main author of the report. Relying on private and municipal players to shoulder this alone would be too short-sighted.

Large investors would have no interest in municipal companies such as public utilities or water suppliers. "So such an investment company is an important supporter in this game," says Otto. The report proposes heat supply as its central business area. Other areas mentioned are electricity grids, water and wastewater supply as well as photovoltaics and wind.

Dulig: Private capital as a result of state incentive investments

Dulig sees the investment company as a concrete solution to the investment needs in Saxony. The focus is on economically profitable business areas in the energy sector where the market is not working, said Dulig. The Free State could make a profit with its investments there in the future. "We assume that these state incentive investments can also attract private capital, which will be secured by state guarantees and sureties," added Dulig.

The report will now be sent to the coalition partners. Dulig assumes that the idea will be examined constructively. However, he does not expect it to be approved before the state elections on September 1.