Enpal secures 345 million euros

The Berlin start-up receives 345 million euros as a loan and wants to use it to refinance 15,000 solar plants and energy storage systems.

Only in July Enpal collected 100 million euros from well-known investors, now the Berliners receive an even larger sum: In total Enpal gets 345 million euros as a loan, 275 million euros from BlackRock, UniCredit and Pricoa Private Capital, which belong to the billionaire insurance company Prudential Financial. Another 70 million euros is being given by an unknown, additional investor. Enpal plans to use the money to refinance the construction of 15,000 solar panels and energy storage systems.

"The financing commitments enable us to continue to pursue our vision of green and affordable energy for private households and to drive our growth," says Gregor Burkart, who is responsible for refinancing at Enpal. According to its own information, the start-up's refinancing volume with the current sum is 500 million euros. Founded in 2017 by Mario Kohle, Viktor Wingert and Jochen Ziervogel, Enpal rents out solar plants. After 20 years, the systems are bought back, and the start-up also takes care of installation and maintenance. According to its own information, Enpal has convinced 10,000 customers with this so far.

"Not all customers have the wherewithal to pay for a solar system directly," says co-founder Viktor Wingert, explaining the background of his company. By the end of this decade, Enpal aims to supply one million households in Germany with solar systems.