2G Energy Hits Fresh Peak as US Data Centre Demand Fuels Record Run

German power generation specialist 2G Energy surges 54% YTD to €56.50, driven by US data centre contracts, record international sales, and German energy policy tailwinds.

The insatiable appetite for computing power is reshaping energy markets on both sides of the Atlantic, and one German specialist in decentralised power generation is reaping the rewards. 2G Energy has seen its shares surge to unprecedented levels, with the stock touching an all-time high of €56.50 on Wednesday — a gain of roughly 54 percent since the start of the year.

The rally reflects mounting confidence in the company's strategic positioning. Its preliminary figures for the 2025 financial year show total revenue climbing six percent to €398 million, underpinned by particularly robust growth in new plant installations, which reached around €230 million — an 11 percent increase on the prior year. The service business, meanwhile, held steady at a record €169 million despite operational disruptions caused by an internal software migration.

A structural milestone was reached as international sales matched domestic turnover for the first time, with overseas revenue rising by nearly a fifth to just under €198 million. This shift underscores the company's broadening geographic footprint, with North America emerging as a pivotal growth engine.

Data Centres Drive Order Momentum

The immediate catalyst for the share price surge lies across the Atlantic. US data centre operators are scrambling for decentralised energy solutions, and 2G Energy is involved in large-scale projects measured in the hundreds of megawatts. Management expects significant advance payments from these contracts as early as the current quarter, boosting near-term visibility.

For the current financial year, the board has reaffirmed its revenue target of between €440 million and €490 million, with an EBIT margin of 9.0 to 11.0 percent. The first deliveries and invoicing for US data centre projects are anticipated in the second half of the year, while the biogas CHP business in Germany is expected to gain meaningful traction as 2026 progresses.

Policy Tailwinds at Home

Beyond the data centre boom, domestic energy policy is providing additional support. The EU Commission and the German government have agreed on the key elements of a new power plant strategy, with the first tender for 12 gigawatts of controllable capacity slated for later this year. A technology-neutral capacity market is scheduled to follow from 2032.

2G Energy has emphasised that its systems already meet the technical requirements — including hydrogen readiness and availability — that the new framework demands. This opens an additional addressable market in Germany that extends beyond the company's existing project pipeline.

ERP Migration Delays Reporting Timeline

The audited annual report for 2025 will be published on 21 May 2026, later than originally planned. The delay stems from the implementation of a new ERP system, which will also cause postponements to the half-year report and subsequent quarterly updates. Some final publication dates have yet to be confirmed.

Management expects the German service business to return to its previous growth trajectory once the ERP migration is complete. The installed base of roughly two gigawatts provides a steady stream of predictable revenue — a solid foundation for the high-margin service segment.

Share Price Reflects Elevated Expectations

The market has already priced in much of the optimism. Over the past twelve months, the stock has gained around 75 percent, with nearly 43 percent of that advance occurring in the last 30 days alone. The shares currently trade well above their 50-day moving average of approximately €41.

The annual general meeting is scheduled for 19 August 2026, while first-quarter figures are due in May. Investors will be watching closely to see whether operational delivery can keep pace with the momentum already reflected in the share price.