BlackRock has invested $200 million in Frankfurt-based Enviria, solidifying Germany’s status as a leader in solar technology.
In contrast to Enpal and 1Komma5, the two solar unicorns in the nation that supply solar panels to homes, Enviria assists enterprises in locating panels, liaising with suppliers, and guaranteeing regulatory compliance.
Enviria, which was established in 2017, secured funding in 2022 for a Series A round from investors like as BNP Paribas, Galileo Green Energy, Alter Equity, and Redalphine. Funding for it was most recently provided by BlackRock’s Global Renewable Power IV fund.
According to Enviria, 70% of the nation’s electricity is used by German businesses, making it a valuable market for businesses developing renewable energy supplies. It claims to have 2,000 solar systems in the works and has deployed 500 solar systems around Germany, for a total of 2.3GW.
In Germany, a fresh wave of solar tech businesses is resurfacing, although with an emphasis on solar panel rental and installation as opposed to manufacturing. Berlin-based Enpal raised €215 million in Series D funding and obtained a €430 million financing facility last year, which includes funding from BlackRock just like Enviria. Hamburg-based 1Komma5 secured €430 million in a Series B round from investors that included Norrsken and Eurazeo.
