Enpal raises EUR 855m to fund residential solar amid brisk demand

Enpal GmbH has secured EUR 855 million (USD 908.09m) in fresh financing commitments from international investors that will enable the German solar leasing company to fund more solar and energy storage systems as well as charging stations for electric vehicles.

The funding round, which the company describes as the biggest financing transaction of this kind for residential solar in Europe, includes EUR 585 million in financing commitments from international investors such as BlackRock Alternatives, ING, Pricoa Private Capital and UniCredit (BIT:UCG).

In addition, ING will provide two RFC&VAT facilities of EUR 150 million and a further EUR 120 million was committed by Infranity, a subsidiary of Italy's Generali (BIT:G), in the form of a Holdco loan, Enpal said on Wednesday.

The fresh capital is enough to finance more than 30,000 new solar systems, energy storage facilities and charging stations for electric vehicles.

Driven by the rapidly increasing interest in energy independence, demand for Enpal's energy solutions is growing and the company relies on a network of financing partners in order to be able to install thousands of new solar systems each month, said founder and chief executive Mario Kohle.

The latest fundraiser comes about six months after Enpal raised EUR 70 million in another campaign and brings the company's total refinancing commitments to about EUR 1.4 billion.

Berlin-based Enpal provides solar solutions to homeowners in a leasing model and aims to install renewable energy solutions at ten million homes by the end of this decade.

(EUR 1 = USD 1.062)

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