As demand for rooftop solar grows in Europe, German rooftop solar rentals company DZ4, owned by energy company EnBW, has raised €55 million financing in the form of equity and additional working capital to help it expand customer base and product portfolio.
DZ4 offers a 'tailor-made' solar system with storage to its customers for a monthly rate at a guaranteed fixed price, without any upfront costs from the latter. It then provides insurance, remote maintenance and repair services.
It plans to deploy the proceeds to expand its product offerings, 'purchasing and entry into new growth areas and regions'.
The growth financing amount includes €15 million in equity and €40 million additional capital, however the company did not reveal more about the source of this capital flow.
"With the strengthened capital base and the conclusion of numerous capacity and purchasing contracts, we are well prepared for increasing customer growth," said DZ4 Managing Director Hans-Martin Rüter.
The company was acquired by EnBW in November 2022 (see Europe PV News Snippets).
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