Enpal looking to enter new markets after securing US$230 million in funding round

Facebook
Twitter
LinkedIn
Reddit
Email
Enpal currently installs more than 2,000 solar systems per month. Image: Enpal.

German rooftop solar installer Enpal has closed its Series D funding round with €215 million (US$230 million) in funding from a group of investors led by TPG Rise Climate, the dedicated climate-investing subsidiary of TPG Rise.

Investment was also secured from existing Enpal investors HV Capital, SoftBank Vision Fund II Capital and Princeville Climate Technology as well as new investors Westly Group and Activate Capital.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

This financing announcement comes after Enpal closed an additional refinancing of €855 million (US$916 million) a few weeks ago. The company said that the funds will enable it to pursue new products and explore new markets.

With more than 30,000 customers in Germany and 2,000 new solar systems installed per month, Enpal rents out the systems and carries out their service and maintenance.

“Fighting climate change is the greatest challenge of the 21st century”, said Enpal founder and CEO Mario Kohle. “We want to help tackle this global issue by putting solar panels on every roof, a battery into every home and an electric vehicle with a charger in front of every door.

“We are thrilled to have high-profile global cleantech investors on board to support our mission to make clean energy simple, affordable and accessible for every household.”

Edward Beckley, partner at TPG and senior member of the TPG Rise Climate investing team said: “Enpal’s success and rapid growth in Germany – Europe’s largest residential solar market – puts the company in a great position to grow into new markets, products and services and establish itself as the leading player in the sector.”

Enpal closed 2022 reporting over €400 million (US$429 million) in revenues. Viktor Wingert, co-founder and chief investment officer of the company, said: “Winning the trust of such high-calibre partners in a challenging macroeconomic environment leaves us very humble, but more eager than ever to deliver on our vision.”

Germany recently raised the tariff threshold for its future rooftop PV auctions in the hope of attracting more bids. Solar’s contribution to the country’s electricity generation jumped 19% in 2022 and seems set only to increase after the EU approved almost US$30 million in an expansion to the country’s renewable energy scheme last month.

11 March 2025
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.
3 June 2025
Messe Stuttgart Stuttgart, Germany
Meet battery manufacturers, suppliers, engineers, thought leaders and decision-makers for a conference and battery tech expo focused on the latest developments in the advanced battery and automotive industries. Stay plugged in for all the latest information on The Battery Show Europe 2024 including: Keynote Speakers & Conference Overview Show Features Floor Plan & Exhibitor News Travel & Transport information
25 November 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

February 6, 2025
The deal was signed with the Energize programme, a renewable energy purchasing vehicle for pharmeceutical companies.
February 6, 2025
Solar module prices in Europe have risen after months of decline, driven by price increases from Chinese manufacturers and a tight supply of popular modules in the European market.
February 6, 2025
Potentia Energy is set to acquire controlling stakes in a 1.2GW renewable energy generation and energy storage portfolio in Australia.
February 5, 2025
Europe will see “moderate” electricity demand increase in the coming years, despite the global growth of data centres and AI.
February 5, 2025
Enphase Energy's financial results follow a wider trend in the inverter market, which has seen major players struggle to adapt.
February 5, 2025
Involving asset managers in the entire lifecycle of a solar project could be the most effective way to maximise the value of their assets.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 17, 2025
London, UK
Solar Media Events
February 19, 2025
Tokyo, Japan
Solar Media Events
March 11, 2025
Frankfurt, Germany