Enpal Secures € 345M in Debt Funding
Enpal, a Berlin, Germany-based solar leasing company, raised € 345m in debt financing.
Enpal secured senior debt commitments of € 275m from internationally leading investors BlackRock, Pricoa Private Capital (the private capital business of PGIM), and UniCredit. In addition, further institutional commitments of € 70m 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 PV systems.
Founded in 2017 by Mario Kohle, Viktor Wingert and Jochen Ziervogel, Enpal is a provider of solar solutions for homeowners in Germany, with over 10,000 customers. The company offers PV systems and batteries in a leasing model. For prospective customers, Enpal offers a comprehensive package including consultation and planning. The installation is carried out by Enpal installers or certified partners. From the initial contact until the end of the subscription, the company takes care of the entire process, which makes the whole journey as easy as possible for homeowners.
Enpal, which currently employs over 1,000 people, recently secured a € 100m equity investment from several investors including HV Capital and SolarCity co-founder Peter Rive.