Enpal, a solar leasing company based in Berlin, Germany, has raised 345 million euros in debt financing.
Enpal has secured senior debt commitments of € 275 million from major international investors BlackRock, Pricoa Private Capital (PGIM’s private equity business) and UniCredit. In addition, other institutional commitments of € 70 million were signed in the form of a subordinated mezzanine loan.
The company will use the funds to refinance the installation of more than 15,000 photovoltaic systems.
Founded in 2017 by Mario Kohle, Viktor Wingert and Jochen Ziervogel, Enpal is a provider of solar solutions for homeowners in Germany, with more than 10,000 customers. The company offers photovoltaic systems and batteries in a leasing model. For potential customers, Enpal offers a complete package including consultation and planning. The installation is carried out by Enpal installers or certified partners. From the first contact until the end of the subscription, the company takes care of the entire process, making the entire journey as easy as possible for owners.
Enpal, which currently employs over 1,000 people, recently secured a € 100 million equity investment from several investors, including HV Capital and Peter Rive, co-founder of SolarCity.