Enpal’s €100 Million Funding Round

Poellath advised Enpal on the deal, while DLA Piper advised Heliad Equity Partners GmbH & Co. KGaA.

Berlin-based solar start-up Enpal has raised an additional EUR 100 million in its largest funding round to date.

HV Capital led the investor round and other investors included Thomas Griesel, founder of the cooking box company HelloFresh, as well as Christopher Muhr, ex-manager of the used car trading platform Auto1, and Peter Rive, cousin of Elon Musk and co-founder of the green energy producer Solarcity. In addition, many existing investors, such as the founders of the mail order company Zalando, are also on board, as is the venture capital firm Picus Capital with Alexander Samwer and Lukasz Gadowski, the founder of the current Dax company Delivery Hero. Actor Leonardo DiCaprio is also indirectly involved by way of an investment from the Climate Technology Fund.

Heliad Equity Partners is investing a single-digit million amount as part of the financing round. Heliad Equity Partners is a listed investment company with a mission to empower both entrepreneurs and investors. The company invests in market leading companies across various verticals and regions to power their next phase of growth.

Enpal provides solar systems and batteries for rent instead of purchase, starting at a price of EUR 49/month. This price includes installation, maintenance and insurance. The self-generated electricity belongs to the customer, who can purchase the system at the end of the contract period for a symbolic price of one euro. The aim is to make it cheaper and, above all, more convenient for homeowners to install a photovoltaic system. The business model is based on the one used in the U.S., where the leasing of solar systems has become a standard solution.

Wallboxes, charging stations for electric cars, will soon be available as part of the package. In the future, renewable heating solutions will also be available for lease. The online solar provider was founded in 2017 by Mario Kohle, co-founder of Aroundhome (formerly known as Käuferportal), and in the meantime has realized more than 8,000 solar projects, as stated by the company. This makes Enpal the leader in solar leasing and it was able to triple its earnings with more than 4,500 systems installed in 2020. No other German solar company managed to do that.

The Poellath team included Christian Tönies (Picture – Partner, Lead), Dr. Sebastian Gerlinger (Counsel) and Markus Döllner (Senior Associate).

The DLA Piper team led by partner Simon Vogel (Corporate/Venture Capital, Munich) also included senior associate Friederike Rickers (Corporate/M&A, Hamburg).

Involved fees earner: Friederike Rickers – DLA Piper; Simon Vogel – DLA Piper; Markus Döllner – P+P Pöllath + Partners; Sebastian Gerlinger – P+P Pöllath + Partners; Christian Tönies – P+P Pöllath + Partners;

Law Firms: DLA Piper; P+P Pöllath + Partners;

Clients: Enpal GmbH; Heliad Equity Partners;

Federica Tiefenthaler

Author: Federica Tiefenthaler