Enpal, a solar photovoltaic (PV) and battery leasing solutions provider based in Germany, announced that it has raised $174.9 million in a Series C fundraising round from SoftBank Vision Fund 2. HV Capital and SolarCity co-founder Peter Rive were among the investors who contributed $116.56 million to the company. Enpal intends to provide solar systems to one million homes by 2030. As per the company statement, it has over 10,000 consumers for residential rooftop solar in Germany. The company provides solar systems on a subscription basis, allowing consumers to avoid large upfront expenditures. Homeowners can also purchase solar systems for only $1.17 after 20 years of operation.
In September 2021, Enpal secured senior debt commitments of $322 million from BlackRock, Pricoa Private Capital, and UniCredit. In addition, institutional commitments of $82 million were signed in the form of a subordinated mezzanine loan. The senior and junior facilities will jointly refinance more than 15,000 new solar plants and energy storage systems.
With over 10,000 customers, Enpal is Germany’s largest provider of solar solutions for homeowners. Enpal offers PV systems and batteries on a leasing basis, allowing homeowners to avoid expensive upfront expenditures. The system can be acquired for one euro after 20 years of service. Enpal provides a full package of consulting and planning services to potential consumers. Enpal certified partners complete the installation.