Rock Rail and Infracapital have established a platform for investment in rolling stock for Germany, which will finance a new electric fleet for the Leipzig Central German S-Bahn Network 2025+ (MDSB 2025+). MEAG is acting as sole arranger of the senior debt financing on behalf of various Munich Re group as well as other institutional lenders, reaffirming their commitment to the modernisation of sustainable public transport in Germany.
The fleet comprises 18 Siemens Mireo 4-car trains and will enter service in December 2026. The trains will initially be leased to DB Regio AG, who have won the concession to operate part of the MDSB 2025+ services.
The fleet will deliver a step-change in passenger experience and uplift to capacity, which will help support Germany’s growing demand for rail travel and transition away from other, less environmentally friendly modes of transport. The design has been specified to deliver all operational requirements of the network including features that support safe operation through the Leipzig Tunnel; optimised floor level to match different platform heights and operational performance for both S-Bahn services on the core section and regional on the outer sections.
The Siemens Mireo platform operates at up to 25% higher energy efficiency than trains with similar capacities and delivers climate-friendly mobility. The fleet will provide step-free access from a standard 550m platform and is designed with a gap bridging plate and sliding step to accommodate TSI PRM compliant access for all platform heights. The train exterior is marked for wheelchair users and bicycle spaces to facilitate passenger flow at busy stations.
The new EMUs will service the following lines:
- S 4: Torgau – Eilenburg – Taucha – Leipzig Hbf. (lower level) – Oschatz – Riesa
- S 6: Leipzig-Stötteritz – Leipzig Hbf. (lower level) – Leipzig-Messe – Naumburg
- S 10: Schkeuditz – Leipzig Hbf. (upper level)
Maintenance of the fleet will be carried out by DB at DB Regio Werkstatt Halle(Saale) S-Bahn Mitteldeutscheland depot, north of Halle station.
Rock Rail and Infracapital will use its platform to help deliver private infrastructure capital to Germany’s rolling stock market and support the country’s transition to net zero.
Mark Swindell, Chief Executive Officer at Rock Rail, said: “Rock Rail has been working in Germany since 2018 and has strong relationships with all the German regional public authorities, operators and manufacturers. We are delighted to have worked on our second deal in Germany with Infracapital and MEAG to lease Siemens Mireo trains to DB Regio in the beautiful city of Leipzig. We will continue to work very hard with our operator partners to fund more fleets in Germany with Infracapital over the next few years”.
Priya Veerapen, Managing Director at Infracapital, said: “This partnership with Rock Rail will support Infracapital’s mission to invest in infrastructure assets which are key to Europe’s sustainable future. Germany’s liberalised rolling stock market sits at an exciting crossroad as the country seeks to double passenger rail numbers by 2030. We see a strong pipeline in the years ahead as government agendas in the UK and Europe are increasingly focused on delivering improved and cleaner public transport systems for a growing passenger base. We look forward to working with Rock Rail and other stakeholders to drive further growth in the years ahead”.
Benjamin Hemming, Head of Illiquid Assets Debt at MEAG, said: “We are very pleased to support Rock Rail and Infracapital by arranging the senior debt financing for the fleet of Siemens Mireo trains to be deployed on the MDSB2025+ network. This underpins our ambition to substantially contribute to the modernisation of sustainable public transport in Germany. The technically advanced features of the new fleet will allow state-of-the-art passenger experience, increased capacity and an improved environmental footprint“.