Enpal increases EUR345m to fund the rollout of 15,000 solar projects
- German solar installer Enpal has actually raised EUR345 million (US$ 405 million) in the red financing to money the deployment of more than 15,000 household solar PV systems.
Announced today (21 September), the raise sees financiers such as BlackRock, Pricoa Private Capital and UniCredit participate. It notes the Berlin-headquartered company's "biggest financial debt fundraising to date".
The above "senior" investors added EUR275 million (US$ 323 million), while various other smaller sized institutional investors devoted EUR70 million in the form of a subordinated mezzanine funding.
The money will certainly be utilized to fund upwards of 15,000 brand-new solar possessions and also energy storage systems. The company has actually already installed greater than 10,000 projects across Germany, it stated.
" [The financing] allows us to further seek our vision of giving eco-friendly as well as economical energy to private families as well as to fuel our growth," claimed Gregor Burkart, head of project finance at Enpal.
The most up to date funding brings Enpal's overall financing history to EUR500 million.
ING Bank and IDCM worked as financial advisors to Enpal, while Greenberg Traurig offered legal advice.