‘Largest’ Financing Transaction For Residential Solar In Europe

Germany’s Enpal Raises €855 Million Refinancing Capital To Support Over 30,000 New Solar System, Energy Storage & Wall Box Installations In Germany

‘Largest’ Financing Transaction For Residential Solar In Europe

Enpal’s new financing commitments will support its business of leasing solar and storage installations in Germany, along with wall boxes. (Photo Credit: Enpal)

  • Enpal has raised €855 million refinancing capital from a host of lenders calling it the largest transaction of its kind in Europe
  • It will be able to support installations of over 30,000 solar, storage systems and wall boxes in Germany
  • Lenders include BlackRock Alternatives, ING, Pricoa Private Capital, Unicredit and Infranity

Solar leasing company from Germany, Enpal GmbH has raised what it calls is the largest financing transaction of this type for residential solar in Europe to date, with €855 million that can support installations for over 30,000 new solar, energy storage systems and wall boxes in Germany.

“We rely on a stable network of financing partners, which enables us to grow faster than anyone else in the market and to install thousands of new solar systems per month,” said Enpal Founder and CEO Mario Kohle.

The refinancing capital includes €585 million senior financing commitments from funds managed by BlackRock Alternatives, ING, Pricoa Private Capital and Unicredit, with ING providing 2 additional RCF and VAT facilities of a total €150 million. A subsidiary of Generali, Infranity has agreed to a €120 million Holdco loan.

The transaction now expands the company’s refinancing commitments to around €1.4 billion.

Enpal claims to have a 6-week average delivery time for the solar systems sourced directly from the world’s largest PV manufacturers.

“Not all customers have the capital to buy a solar system in advance,” said Enpal co-founder and Chief Investment Officer Viktor Wingert. “Our dream is for everyone to have a solar system on the roof, an electric car in front of the house and an electricity storage system in the house and we bring all these people to a large renewable community together.”

In October 2021, it had raised €150 million from SoftBank Group’s Vision Fund 2, having closing its Series C funding round with €250 million with investors including SolarCity founder Peter Rive. It made the German company’s stock valuation reach €950 million (see Enpal Becomes Solar Unicorn In Germany).

About The Author

Anu Bhambhani

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

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