Germany's DZ4 gets EUR 55m to grow rooftop solar rental business
- German rooftop solar rental firm DZ4 has actually protected EUR 55 million (USD 60.58 m) in financing to scale its business across the nation and also include new products to its offering.
The plan consists of EUR 15 million in equity as well as an added working capital line of EUR 40 million, DZ4 said on Thursday.
The fresh funding will support the business's growth as an across the country supplier of solar systems, the development of the item portfolio, as well as the entrance into new areas as well as regions.
The Hamburg-based company has been giving installment as well as operation services for residential solar systems for concerning a decade, utilizing a lease business model. This allows customers to rent out a solar system with a battery for a regular monthly cost and also be provided with clean power at a set price for 25 years, avoiding the acquisition of the installation. DZ4 takes over the preparation and maintenance of the solar systems.
DZ4's sole owner is German electrical utility EnBW Energie Baden-Wuerttemberg AG (ETR: EBK) which took complete control of business at the end of 2022.
