Enpal, a leading renewable energy system integrator and greentech unicorn based in Berlin, has announced a monumental €1.1B in debt commitments. This significant financial backing comes from Barclays Europe, Bank of America, Credit Agricole CIB, and the Canada Pension Plan Investment Board (CPP Investments), marking a major milestone in the company’s journey to revolutionize the renewable energy sector.
This latest round of debt financing follows a previous substantial debt fundraising of over €400M from DWS, Phoenix Group, ING Germany, and BlackRock in June 2023. With these commitments, the company’s total structured refinancing commitments now exceed €3.6B.
Manuel Weller, Head of EU Structured Finance at Bank of America, expressed enthusiasm for supporting Enpal’s mission to become Europe’s premier provider of integrated green energy solutions. “Bank of America’s extensive credentials in the solar and energy space allow us to contribute meaningful expertise to the establishment of this new asset class in Europe,” Weller stated.
Bela Schramm, Director of Securitization at Enpal, highlighted the impact of these commitments from global financial institutions, enabling Enpal to maximize the flexibility and convenience of its energy management platform and ensure customers benefit from integrated financing solutions at optimal terms.
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About Enpal
The greentech from Berlin is pioneering the residential energy transition with integrated renewable solutions, offering products for solar, storage, EV-charging, heat pumps, and an energy management platform for optimized performance and long-term savings. Profitable since 2022, Enpal has made significant strides in the German residential solar market, transforming green energy acquisition for fossil-free homes through its rental model and flexible, no-down-payment purchase option. With over 60,000 Enpal-equipped households, the company fosters a climate-friendly renewable energy community.
Laurent Haik, Co-Head of European Auto & Operating Assets Securitization at Credit Agricole CIB, praised Enpal’s growth trajectory and ability to originate residential customers at scale. “As part of Credit Agricole CIB’s long-standing involvement in the distributed generation space, we are looking forward to a long-term and fruitful collaboration within the promising and fast-evolving arena of green securitisation,” Haik remarked.
With this latest financial milestone, the company is set to further its impact on the renewable energy landscape, providing sustainable solutions to homeowners and contributing to the global effort to combat climate change.
