Press release: ENVIRIA secures bridge financing facility in the double-digit million euro range from Eiffel Investment Group
ENVIRIA, a full-service renewable energy provider specializing in the B2B sector, announces the signing of a new double-digit million Euro revolving bridge financing facility. It is dedicated for the construction of new rooftop PV plants in Germany with different electricity marketing models. The funds were provided by funds managed by Eiffel Investment Group. Capcora acted as sole financial advisor in this transaction.
ENVIRIA specializes in large-scale solar-centric energy solutions and energy-as-a-service concepts tailored to the individual needs of businesses. Projects designed, planned and constructed by ENVIRIA benefit from either a long-term feed-in tariff or an “on-site” Power Purchase Agreement (PPA) or a combination thereof.
Demand for ENVIRIA’s services is growing rapidly. The current energy crisis, the prioritization of ESG initiatives, regulatory improvements for rooftop systems – such as last year’s decision to increase the capacity of non-tendered systems to 1 MW and the December 2022 decision to increase the maximum price in auctions for larger rooftop systems – are just a few of a multitude of factors boosting ENVIRIA’s business.
“In order to meet the demand of our customers, we rely on financing partners who empower our growth and therefore understand and promote our model. We thank Eiffel Investment Group for their support. Properly deployed, the funds will allow us to finance a substantial portion of our ever-increasing project pipeline” said Melchior Schulze Brock, founder and CEO at ENVIRIA.
“We are very pleased to be able to support once again ENVIRIA’s business with our financing bridge solution. The B2B segment offers great business potential, especially in Germany, and ENVIRIA has demonstrated its capacity to serve this market. Our revolving facility is specifically designed to boost and accelerate the development of ENVIRIA on this promising market” adds Pierre-Antoine Machelon, Head of Infrastructure at Eiffel Investment Group.
“Currently, the residential sector in Germany enjoys special attention in the international financing scene. Structured finance in the commercial & industrial sector is still underrepresented due to the lack of aggregators. ENVIRIA has the potential to fill this niche and is therefore also an interesting target customer for financing partners. We are happy to support ENVIRIA and to be part of its success story” adds Alexander Kuhn, Managing Partner at Capcora.
On the legal side, the parties were advised by the law firm Luther Rechtsanwaltsgesellschaft mbH, which was responsible for both the documentation and the due diligence.
ENVIRIA is one of the fastest-growing companies in the German solar market, providing scalable Energy-as-a-Service solutions and innovative solar-centric projects. ENVIRIA is facilitating a renewable energy ecosystem, with the aim to boost B2B participation in the clean energy transition and empower the democratization of power generation by becoming a disruptive and decentralized utility in its own right. Solar projects are structured and built based on EPC expertise and financial engineering concepts designed for the unique needs of the B2B sector, where ENVIRIA’s knowledge and network leverage the strengths of each party involved.
With a portfolio that goes far beyond the offering of typical PV service providers, ENVIRIA is set up to manage projects through all phases – from the planning and financing of new PV systems to installation and operation, all the way to the integration of charging stations, energy storage and more. To date, ENVIRIA has developed more than 200 commercial projects, with an installed capacity of over 70 MW, saving more than 41,000 tons of CO2 emissions last year alone.
ENVIRIA was named one of the world’s top 100 startups in the energy sector in 2022 (SET100 list), and was awarded the Hessian Founder Award for “Social Impact” in 2021.
About Eiffel Investment Group:
Eiffel Investment Group is an asset manager with more than €5 billion under management (data as of end of 2022, including undrawn commitments). Eiffel Investment Group’s clients are large institutional investors (insurers, mutual funds, pension funds, banks, large family offices, and public investors) as well as individuals, through intermediary distribution.
Eiffel Investment Group cultivates a strong industrial expertise, particularly in the field of energy transition, but also in health, agri-food and digital. It finances companies and their assets through four main strategies: private debt, energy transition infrastructure, private equity, and listed equities and credit.
Eiffel Investment Group’s mission is to invest for a sustainable world. Its investment strategies aim to generate not only a strong financial performance but also a positive impact on the environment and society. The Eiffel Investment Group team has approximately 85 talented employees, mainly in Paris, with presence in Amsterdam and New York.
Capcora is a consulting firm, specialized on real assets. Capcora procures equity, mezzanine and debt financing for energy and infrastructure projects, real estate, and medium-sized companies. The focus is especially on mezzanine financing for the recapitalization of tied-up liquidity in operating assets as well as for bridge financing of developments and construction measures in the area of renewable energies (photovoltaics, onshore wind) and real estate through alternative financing sources. In addition, Capcora acts as transaction manager for M&A processes (buy and sell side advisory).