Enpal raises 215 million euros

In addition to the €855 million loan financing, Enpal is now getting new growth capital.

Solar start-up Enpal raises 215 million euros in a Series D financing round. The fresh capital is to flow into the product portfolio of the company, which was founded in 2017. It is not yet known which specific product expansions are planned. Enpal also wants to expand into new markets. Again, it is not known which markets CEO Mario Kohle is specifically targeting. According to Businessinsider the start-up was looking for expansion and sales managers for Italy and Spain last year.

The round is led by a leading global renewable energy and climate tech fund, TPG Rise Climate. Activate Capital and Westly Group, known for an early Tesla investment, are also new entrants. Existing investors such as HV Capital, Princeville Climate Tech and Softbank Vision Fund II gave money again. As recently as December, Enpal raised €855 million via debt financing.

The company's valuation has thus now grown from €950 million in the extended Series C round to a total of about €2.25 million, more than doubling. The company also says it is doing well in terms of sales. The model of leasing solar plants for 20 years to private customers, among others, seems to be paying off. In 2021, the company made 110 million euros in sales - last year, it was probably more than 400 million euros.