Enpal secures 345 million euros

The Berlin-based start-up receives 345 million euros as a loan and intends to use it to refinance 15,000 solar systems and energy storage units.
Enpal only raised 100 million euros from well-known investors in July, now the Berlin-based company is receiving an even larger sum: Enpal is receiving a total of 345 million euros as a loan, 275 million euros from BlackRock, UniCredit and Pricoa Private Capital, which belong to the billion-dollar insurance company Prudential Financial. A further 70 million euros will be provided by another unknown investor. Enpal intends to use the money to refinance the construction of 15,000 solar installations and energy storage systems.
"The financing commitments will enable us to continue pursuing our vision of green and affordable energy for private households and drive our growth forward," says Gregor Burkart, who is responsible for refinancing at Enpal. According to Enpal, the start-up's refinancing volume currently stands at 500 million euros. Founded in 2017 by Mario Kohle, Viktor Wingert and Jochen Ziervogel, Enpal rents out solar systems. After 20 years, the systems are bought back and the start-up also takes care of installation and maintenance. Enpal claims to have won over 10,000 customers so far.
"Not all customers have the necessary small change to pay for a solar system directly," says co-founder Viktor Wingert, explaining the background to his company. Enpal aims to supply one million households in Germany with solar systems by the end of this decade.

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