Enpal raises 215 million euros

In addition to loan financing of 855 million euros, Enpal is now receiving new growth capital.

The solar start-up Enpal is raising 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. The specific product expansions planned are not yet known. Enpal also wants to expand into new markets. Here too, 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 fund for renewable energies and climate tech, TPG Rise Climate. Activate Capital and the Westly Group, which is known for an early Tesla investment, have also joined. Existing investors such as HV Capital, Princeville Climate Tech and the Softbank Vision Fund II invested again. As recently as December, Enpal raised 855 million euros via loan financing.

The company's valuation has now more than doubled from 950 million euros in the extended Series C round to around 2.25 million euros. According to the company, sales are also going well. The model of leasing solar systems for 20 years to private customers, among others, seems to be paying off. In 2021, the company generated a turnover of 110 million euros - last year it was probably more than 400 million euros.