In August 2025, Rock Rail and Infracapital secured financing for a new battery-electric train fleet for the Mittelthüringer Akku-Netz network in Thuringia, Germany.
The project will provide 19 Stadler FLIRT Akku battery-electric multiple units which will replace end-of-life diesel trains on key routes in central Germany. The new fleet will enter service in December 2028 and will cover around 3.6 million train kilometres each year.
The new vehicles allow electric trains to be operated on non-electrified lines. This supports the state’s local transportation network electrification and is a major step towards decarbonising regional rail in Germany.
Operis acted as modelling advisor to the sponsors, from the initial model build to running equity and lender scenarios through to managing the model audit process and financial close. An independent team at Operis acted as model auditor.
