German start-up Enviria nets EUR 22.5m to help businesses go solar

German solar energy start-up Enviria has raised EUR 22.5 million (USD 23.6m) in a Series A funding round, co-led by European venture capital firm Redalpine and renewable energy development and investment platform Galileo Green Energy.

BNP Paribas Developpement and impact investor Alter Equity also took part in the fundraising, Enviria said on Thursday.

The proceeds will be used to scale up and further develop the company's solar concepts and strengthen its position as a decentralised renewable energy platform for the B2B sector.

The Frankfurt-based start-up focuses on large-scale solar-centric energy solutions and energy-as-a-service concepts for businesses. Since its inception in 2017, the company has developed more than 105 commercial projects with an installed capacity of over 50 MW.

Earlier this month, Enviria announced that it had secured several projects for rooftop solar installations with a combined capacity of 15.3 MWp in Germany’s EEG rooftop solar tender in April. The auction awarded a total of 204 MW of rooftop capacity.

(EUR 1 = USD 1.049)

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