Enpal greentech unicorn, secures €1 billion refinancing commitments

Enpal greentech unicorn, secures €1 billion refinancing commitments

Enpal, a German greentech unicorn, secured senior refinancing commitments of over €1 billion from Barclays Europe, Bank of America, and Credit Agricole CIB in two separate ABS warehousing facilities. The company also received total mezzanine debt commitments of €118 million from CPP Investments.

• Founding Background: Enapl was founded in 2017 by Jochen Ziervogel, Mario Kohle, and Viktor Wingert.

• Enpal's Renewable Energy Solutions: Enpal offers German homeowners a comprehensive, integrated renewable energy solution. Enpal's product offerings include a solar system, energy storage system, EV-charging station, heat pump, and the Enpal energy management platform. This combination of hardware and software is designed to optimize system performance and long-term customer savings.

• Impact on German Residential Customers: Enpal's financials will provide over 35,000 German residential customers with an integrated financing solution for new photovoltaic (PV) systems and other renewable energy products.

• Statements from Enpal's Leadership: Viktor Wingert, Chief Investment Officer and co-founder of Enpal, expressed his excitement about the partnerships with leading players in the asset-backed security space, which will enable Enpal to provide sustainable renewable energy solutions to German homeowners.

This financing will enable Enpal to further expand its product portfolio and establish a presence in the residential solar asset-backed market in Europe.