SoftBank invests EUR 150m in solar leasing firm Enpal

Solar rooftop system in Germany. Author:Max-Leonhard von Schaper. License: Creative Commons, Attribution 2.0 Generic.

October 19 (Renewables Now) - German solar leasing company Enpal GmbH has received an investment of EUR 150 million (USD 174.06m) from Japan's SoftBank Group Corp (TYO:9984) which completes a Series C financing round.

The investment was made through SoftBank Vision Fund 2, Enpal said on Monday.

The announcement comes less than a month after Enpal secured EUR 345 million in debt from a group of investors, bringing the company's total refinancing commitments to EUR 500 million. The capital was needed to refinance the installation of more than 15,000 solar PV systems.

Enpal was founded by Viktor Wingert, Mario Kohle and Jochen Ziervogel in 2017 in Berlin to provide solar solutions to homeowners in a leasing model. It is active only in Germany where it has about 10,000 customers. In 2020, the company installed a total of 4,500 PV systems and pursues the ambitious goal of reaching one million PV systems by the end of the decade.

(EUR 1 = USD 1.160)

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