BERLIN, Jan 9 (Reuters) – German photovoltaics leasing agency Enpal mentioned on Monday it was near buying 215 million euros ($230 million) in fairness, because it seeks to broaden its enterprise and meet rising demand. for residential solar energy in gentle of the rise. vitality costs.
The brand new spherical of financing of the corporate, which leases photovoltaics techniques, together with their technical assist and upkeep providers, brings the Berlin-based firm’s valuation to round 2.2 billion euros ($2.35 billion ), the Enpal spokesman mentioned.
The Collection D funding spherical was led by climate-focused personal fairness fund TPG Rise Local weather, the corporate mentioned, including that early Tesla ( TSLA.O ) investor Westly Group and US enterprise capital Activate Capital had been additionally amongst these new investor.
In December, Enpal secured 855 million euros in refinancing with Blackrock Options (BLK.N), ING (INGA.AS), Pricoa Non-public Capital, UniCredit (CRDI.MI) and Infranity.
Enpal, which has 30,000 prospects in Germany with 2,000 new photo voltaic vitality techniques put in each month, is at present not planning an preliminary public providing, an organization spokesman instructed Reuters.
Based in 2017, the corporate turned a revenue for the primary time final 12 months, with income of greater than 400 million euros.
It advantages from rising demand for solar energy techniques in Europe’s largest economic system, with shoppers in search of various sources of electrical energy to costly fossil fuels following a drop in Russia’s vitality provide in Germany.
“Whereas fossil gas costs stay excessive and governments implement insurance policies to speed up the vitality transition, we proceed to imagine within the significance of decarbonization at house throughout Europe,” mentioned Edward Beckley, a accomplice at TPG. mentioned in a press release.
A survey by Germany’s solar energy affiliation (BSW) in December confirmed that three-quarters of German householders would contemplate putting in a photo voltaic system on their roof and one in 5 deliberate to take action sooner or later. which is 12 months.
New solar energy installations in Germany are estimated to have grown by almost 30% final 12 months, in response to BSW.
($1 = 0.9358 euros)
Reporting by Riham Alkousaa; modifying by David Evans
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