Frankfurt-based Enviria has successfully raised over $200 million in a Series B funding round, with global asset manager BlackRock leading the investment. The substantial capital injection will play a crucial role in supporting Enviria’s expansion efforts as it looks to scale up its existing portfolio of 500 commercial and industrial solar projects throughout Germany.
While the majority of solar energy projects in Germany traditionally focus on residential installations, rental services, and maintenance, Enviria adopts a unique approach. The company concentrates on providing photovoltaic energy solutions, including tailor-made energy-as-a-service products designed to meet the specific needs of businesses.
Enviria’s business model mirrors that of its residential-focused counterparts, addressing the complexities associated with transitioning to solar energy. This includes ensuring compliance with regulations, sourcing suitable solar systems for project requirements, coordinating with suppliers and contractors, managing energy surpluses, and securing the necessary capital for project financing.
In Germany, commercial and industrial entities consume approximately 70 percent of the nation’s total electricity usage. Surprisingly, only 10 percent of eligible company roofs are currently equipped with photovoltaic systems. Enviria aims to address this gap by leveraging the larger rooftop sizes in the commercial and industrial sectors, providing ample space for the rapid deployment of renewable energy capacities.
Enviria’s ambitious development pipeline encompasses around 2,000 commercial and industrial projects, totaling more than 2.3GW. The company has set a target to actualize at least 1.7GW of this pipeline by the year 2029, positioning itself as a key player in advancing sustainable energy solutions for businesses.