One organizational form that can effectively integrate a local actor structure is the GmbH & Co. KG, where the described actors can become part of the GmbH & Co. KG in different roles. The GmbH part takes on the initiation of the local heating supply project. The GmbH is directly legally liable and manages the daily operations of the GmbH & Co. KG. Limited partners (Kommanditisten) are silent partners in the GmbH & Co. KG, contributing capital to finance the heating network and participate in the profit and loss of the GmbH & Co. KG. Thus, the capital for construction and operation of the heating network is provided through the equity of the limited partners, public funding and bank loans. Limited partners are liable only up to the amount of their investment. They can be individuals, companies, local investors, or even the municipality itself. The technical implementation is planned and executed by commissioned professional engineering firms and specialized companies , bringing in the expertise component. This includes the planning and installation of heat generators, heat transfer stations, and the laying of heat pipes. After the construction work is completed, the heating network is put into operation, with the GmbH & Co. KG taking over the ongoing management, maintenance, and servicing of the heating network.
economically successful projects. The cooperative is currently in its founding phase. However, once it reaches a sufficient size, it could engage nationwide and participate in additional projects.
This is where investors come in, who specialize in financing large infrastructure projects and are willing to accept longer durations (e.g., 15 years). These investors seek ESG (Environmental, Social, and Governance) titles that are specifically used to finance projects or initiatives that have positive impacts on the environment, society, and corporate governance and meet their own ESG criteria. Projects like Q1 in Gettorf could precisely meet these requirements. External investors can thus participate as limited partners in the project, accepting moderate returns and ensuring that customers benefit from more favorable heating prices. The municipality plays a crucial role as the landowner and responsible party for public services. Through right-of-way agreements, the Quartiersgesellschaft gains the right to lay the network infrastructure, which remains the property of the Quartiersgesellschaft. Alternatively, a concession could be considered, where the municipality leases the network infrastructure for twenty years. Several factors need to be considered here: The municipality might be able to finance infrastructure investments more cheaply (longer depreciation periods = lower interest rates) to ensure favorable heating prices. However, financing on the investor side of the generation park poses a challenge due to the need to account for a potential “exit” after 20 years, which must be factored into the financing and could lead to higher heating prices. In the presented model, the Quartiersgesellschaft is to be granted the right of way. To safeguard the interests of the citizens and the municipality, it is important that these two stakeholders hold at least minority shares, i.e., 25.1% of the shares, which corresponds to a blocking minority. This allows both parties to jointly influence key development aspects of the heating supply concept. This means that decisions, such as the sale of the entire company or parts thereof, the admission of additional shareholders, or the setting of heating prices, are generally subject to a three-quarter majority. In this model, the cooperative and the municipality jointly hold this blocking minority. The citizen cooperative acts as a bridge between public shareholders and private investors. Its role is to represent and secure the interests of citizens vis-à-vis the municipality and external investors. In this case, it is a professionally managed cooperative operating nationwide and implementing concepts in the interest of citizens. If these concepts are viable, the cooperative becomes involved and engages only in
The Q1 model is now being tested in practice and, if successful, will be continuously adapted and expanded to other projects.
Summary/Result In summary, Denmark’s experiences in the field of heat supply offer valuable insights for Germany, particularly regarding the implementation of the Heat Planning Law (WPG).
The following factors should be considered:
Local Involvement: Denmark’s success highlights the importance of local involvement and expertise. Germany could address the “actor vacuum” by strengthening local actors and integrating them into heat supply systems. Cooperation Models: Danish cooperatives demonstrate the benefits of local management in heat networks. In Germany, new cooperation models could enhance the implementation of 100% renewable concepts, potentially leading to moderate heat prices and increased local value creation. The example of the Q1 project in Gettorf provides initial guidance in this regard. Role of Municipalities and Counties: Municipalities and counties are crucial for initiating and supporting heat projects. They should utilize their resources, act as facilitators, and seek support to overcome existing constraints. Investment Strategies: Various perspectives emphasize the need to acquire private capital for the German ‘Wärmewende.‘ Therefore, it is important to find models that align with local interests while ensuring financial viability. The Q1 project in Gettorf illustrates how these lessons can be practically applied. By adapting and integrating these strategies, Germany can work towards a more sustainable and effective heat supply system.
For further information please contact: Susanne Schmelcher, susanne.schmelcher@dena.de
13 www.dbdh.dk
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