2G Energy Recasts Growth Trajectory as AI Data Center Demand Fuels Guidance Upgrade

2G Energy raises 2027 revenue guidance to €570-620M after landing US data center contract; stock surges 75% in 3 months as market bets on AI infrastructure pivot.

The combined heat and power specialist from Heek is no longer just a cogeneration equipment maker. 2G Energy has repositioned itself as a critical supplier to the AI infrastructure buildout, and the market is betting that the pivot will deliver far more than originally forecast. The company raised its revenue guidance for both 2026 and 2027 after announcing a triple-digit megawatt contract for US data centers, with deliveries scheduled to begin in the second half of next year.

For the current fiscal year 2026, management now expects revenue to land at the upper end of the previously communicated range of €440 million to €490 million. The more compelling figure lies in the 2027 outlook: the board has guided for roughly 20% sales growth, targeting €570 million to €620 million in group revenue. The accompanying EBIT margin is seen exceeding 11%, with the improvement driven by scale effects as serial production ramps up for international megaprojects.

The operational story is gaining traction among specialist institutional investors. 2G Energy constitutes the largest single holding in the Tigris Small & Micro Cap Growth Fund at around 8.1%, and the stock was recently added to the real-money portfolio of Trading Journal Premium. That confidence is mirrored in the share price: the stock has surged about 75% over the past three months and more than 114% over twelve months. On Friday it closed at €66.85, just under the 52-week high of €70.10 set days earlier.

Analysts are still catching up with the new trajectory. SMC Research reaffirmed its “buy” rating on 28 May, while the Bernecker Börsenkompass lifted its price target in a portfolio update on 29 May — though without publicly disclosing a new figure. The average price target from consensus data sets still stands at €50.13, well below the current trading level, suggesting that many analysts have yet to fully incorporate the large order into their models. The annualised 30-day volatility of over 80% underscores how dynamically the market is processing the revaluation.

Behind the order lies a structural trend. Hyperscale data centres in the US are being built with investment volumes of up to $27 billion, driven by the AI industry’s insatiable demand for computing power. These facilities require stable, efficient energy supply — a need 2G Energy addresses with its combined heat-and-power solutions. In Germany, the federal government adopted a national data centre strategy in March 2026 that places high demands on energy efficiency and waste-heat utilisation, both core competencies of the company.

Competitive dynamics are also shifting. Rival INNIO is preparing an IPO on the Nasdaq, but 2G Energy already occupies a position as a profitable, established player in the same space — an edge that should matter in the contest for large international contracts. On the regulatory front, the Federal Network Agency is discussing higher base charges for prosumers under the AgNes reform, but industrial customers with their own CHP plants are expected to still benefit handsomely from the economics of self-sufficient energy supply.

The next catalyst could come from concrete project partnerships in North America, with the board already signalling further large orders on the horizon. How quickly those details emerge — and whether the ambitious 2027 targets are backed by additional contracts — will determine whether the current rally can be sustained beyond the initial euphoria.