Enpal raises 855 million euros

The solar start-up is stocking up on loans. It wants to buy more than 30,000 new solar systems, energy storage systems and charging stations.

Berlin-based solar system unicorn Enpal raises 855 million euros shortly before the end of the year, according to start-up scene reports. The money comes from funds, banks and investors. They are providing the debt capital in the form of interest-bearing loans. The start-up now wants to use the fresh capital to buy more than 30,000 new solar systems, energy storage units and charging stations.

It first has to purchase these itself before Enpal technicians can install the systems at customers' premises. The business model of the start-up, which was founded in 2017, is a rental model. Customers pay a monthly fee for the system and the electricity, but save on the high acquisition costs. If they use the systems for 20 years, they can buy them for one euro.

The company's goal is to achieve a turnover of around one billion euros in one year, founder Mario Kohle told the Manager Magazine. For 2022, he anticipates a turnover of between 300 and 400 million euros.