EnBW takes full control of residential solar company DZ4

German electric utility EnBW Energie Baden-Wuerttemberg AG (ETR:EBK) has increased its interest in DZ4 and is now the sole owner of the Hamburg-based rooftop solar rental company.

The two companies have been long-year partners since 2015 when EnBW New Ventures made an investment. Last year, the Karlsruhe-based utility bought a majority stake in the business.

After the takeover, DZ4 will continue to operate independently and seek to expand its market position further.

DZ4 has been providing leasing, installation and operation services for residential solar systems since 2012. The lease model used by the company enables its customers to rent a solar system with a battery against a monthly fee. DZ4 is responsible for the planning, maintenance, insurance and any repairs to the system while its customers get clean power at a fixed price for 25 years. A household using such a solar system can cover up to 70% of its electricity needs with it.

Solar plants and battery storage are at the heart of the energy transition and DZ4 makes this possible for everyone with its rental model, said EnBW's head of Innovation Juergen Stein. This offer fits perfectly into EnBW's portfolio, Stein added.

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