Financial Power for the Energy Transition
Interview with Alexander Kuhn, Managing Partner of Capcora GmbH
The energy transition is one of Europe’s central future projects – and at the same time one of the greatest challenges for the economy and society. In the midst of this transformation, Capcora GmbH positions itself as a specialized financial advisory boutique, supporting companies in the implementation of sustainable energy projects. Managing Partner Alexander Enrique Kuhn discusses the development of his company, current market trends, and the future of the industry in the interview.
Wirtschaftsforum: Mr. Kuhn, you are currently celebrating the ten-year anniversary of Capcora. How did it all begin?
Alexander Kuhn: I founded Capcora in 2015 together with partners, after having been active in consulting and dealing with renewable energies. The vision was clear from the start: We wanted to establish a specialized financial advisory boutique that supports companies during the energy transition – where capital, technology, and sustainability meet. Today, we work with around 45 employees from 16 nations across seven offices in Germany, Poland, Italy, and Spain. Being able to celebrate this anniversary now is a confirmation that we are on the right track.
Wirtschaftsforum: What exactly does Capcora offer its clients?
Alexander Kuhn: Our business is based on two pillars: On one hand, we are active in M&A consulting – that is, in the purchase and sale of projects and companies in the field of renewable energies, such as solar, wind, or increasingly, battery projects. On the other hand, we support our clients in the procurement of external or mezzanine capital. Our clients are mostly small and medium-sized enterprises – particularly project developers and operators, whom we accompany from financing strategy to the completion of the transaction.
Wirtschaftsforum: What challenges are currently most pressing in the industry?
Alexander Kuhn: The energy transition has been pushed forward for over 20 years, and there have been enormous advancements. Nonetheless, we are currently dealing with so-called negative prices on the energy market – times when electricity production exceeds network supply, especially at noon on sunny days. This shows that we are too slow in expanding battery storage, which could absorb the problem of network overload and make energy usable at different times. This is one of the biggest tasks for the coming years, also for us as consultants.
Wirtschaftsforum: How does Capcora stand out from other financial advisors?
Alexander Kuhn: First, through our clear focus: We deal exclusively with energy transition and renewable energies – nothing else. This creates expertise and trust. Secondly, through our international, multicultural team. We bring together 16 nations, speak many languages and can thus accompany complex, cross-border projects. Many of our mandates are cross-border transactions, which connect different countries and project classes – such as solar, wind, and storage. This complexity is challenging, but that is precisely what makes our work exciting.
Wirtschaftsforum: Can you name an example of a project that you are particularly proud of?
Alexander Kuhn: A good example is our longstanding cooperation with the industry leader Enerparc AG from Hamburg. We have been accompanying the company since 2019 on various transactions. Most recently, we structured a project financing with a volume of over 250 million EUR – together with Landesbank Baden-Württemberg. That was one of the largest PV financings in Germany and a real milestone for all involved.
Wirtschaftsforum: What role does corporate culture play at Capcora?
Alexander Kuhn: A very big one. We are a consulting firm – a classic People’s Business. Trust, reliability, and honesty are the cornerstones of our work. Especially in an international team, mutual respect is crucial. We value an open, fair interaction – internally and externally. I am convinced: customers can sense whether a team works together authentically.
Wirtschaftsforum: What topics will shape the future of Capcora?
Alexander Kuhn: Clearly the area of battery storage, but artificial intelligence will also change our industry. AI can support many analyses and processes, but it does not replace the personal relationship between consultant and client. We see consulting as something that goes beyond mere data analysis – it's about trust, experience, and intuition. At the same time, we actively use AI tools to increase our efficiency. Digitalization is not a risk for us, but an opportunity.
Wirtschaftsforum: You mentioned earlier your ten-year anniversary. How are you celebrating this milestone?
Alexander Kuhn: We are celebrating very classically in our new office in downtown Frankfurt, to which we moved just half a year ago. Over 100 guests – clients, partners, and staff from all over Europe – will be there. There will be speeches, live music, and of course, plenty of opportunity to toast to our achievements. After ten intense years, it simply feels good to take a moment to pause together and celebrate our successes.