Magnesium silicide and its solid solutions are among the most attractive materials for thermoelectric generators in the temperature range of 500-800 K. However, while n-type Mg 2 (Si,Ge,Sn) materials show excellent thermoelectric performance, the corresponding p-type solid solutions are still inferior, mainly due to less favorable properties of the valence bands compared to the conduction bands. Here, Li doped Mg 2 Ge with a thermoelectric figure of merit zT of 0.5 at 700 K is reported, which is four times higher than that of p-type Mg 2 Si and double than that of p-type Mg 2 Sn. The reason for the excellent properties is an unusual temperature dependence of Seebeck coefficient and electrical conductivity compared to a standard highly doped semiconductor. The properties cannot be captured assuming a rigid band structure but well reproduced assuming two parabolic valence bands with a strong temperature dependent interband separation. According to the analysis, the difference in energy between the two bands decrease with temperature, leading to a band convergence at around 650 K and finally to an inversion of the band positions. The finding of a combination of a light and a heavy band that are non-rigid with temperature can pave the way for further optimization of p-type Mg 2 (Si,Ge,Sn).