BERLIN, Jan 9 (Reuters) – German photovoltaics leasing agency Enpal mentioned on Monday it was near buying 215 million euros ($230 million) in fairness, because it seeks to develop its enterprise and meet rising demand. for residential solar energy in gentle of the rise. vitality costs.
The brand new spherical of financing of the corporate, which leases photovoltaics programs, together with their technical assist and upkeep providers, brings the Berlin-based firm’s valuation to round 2.2 billion euros ($2.35 billion ), the Enpal spokesman mentioned.
The Sequence D funding spherical was led by climate-focused personal fairness fund TPG Rise Local weather, the corporate mentioned, including that early Tesla ( TSLA.O ) investor Westly Group and US enterprise capital Activate Capital have been additionally amongst these new investor.
In December, Enpal secured 855 million euros in refinancing with Blackrock Alternate options (BLK.N), ING (INGA.AS), Pricoa Non-public Capital, UniCredit (CRDI.MI) and Infranity.
Enpal, which has 30,000 clients in Germany with 2,000 new photo voltaic vitality programs put in each month, is at the moment not planning an preliminary public providing, an organization spokesman informed Reuters.
Based in 2017, the corporate turned a revenue for the primary time final yr, with a income of greater than 400 million euros.
It advantages from rising demand for solar energy programs in Europe’s largest financial system, with shoppers searching for various sources of electrical energy to costly fossil fuels after Russia’s vitality provide fell in Germany.
“Whereas fossil gas costs stay excessive and governments implement insurance policies to speed up the vitality transition, we proceed to consider within the significance of decarbonization at dwelling throughout Europe,” mentioned Edward Beckley, a companion at TPG. mentioned in an announcement.
A survey by Germany’s solar energy affiliation (BSW) in December confirmed that three-quarters of German householders would think about putting in a photo voltaic system on their roof and one in 5 deliberate to take action sooner or later. which is 12 months.
New solar energy installations in Germany are estimated to have grown by practically 30% final yr, in response to BSW.
($1 = 0.9358 euro)
Reporting by Riham Alkousaa; enhancing by David Evans
Our Requirements: The Thomson Reuters Belief Ideas.
