Berenberg provides unitranche financing to ENVIRIA for the installation of Germany's largest rooftop solar pipeline

Hamburg/Frankfurt am Main, Thursday, 9th of January 2025. The Green Energy Debt funds advised by Berenberg provide ENVIRIA, a leading provider of commercial and industrial rooftop solar systems, with a unitranche financing of up to 60 million euros. This transaction is an important step towards the installation of the largest rooftop solar pipeline in Germany.

The initial portfolio comprises 84 projects and can be flexibly expanded to up to 150 projects thanks to a lean and efficient contract structure. All projects are secured by an EEG tariff (Renewable Energy Sources Act) and thus contribute to a sustainable energy supply in the long term.

The financing is specifically designed to enable ENVIRIA to achieve its own growth targets faster. In particular, the due diligence structure tailored to the transaction and the flexible payout and repayment models help ENVIRIA to accelerate the development and expansion of the rooftop systems. At the same time, the structure allows for strategic optimization in order to conclude long-term project financing at the best possible time after the commissioning of the various systems.

The world's largest asset manager, BlackRock, invested over 200 million dollars in ENVIRIA, recently confirming the intrinsic value and growth potential of the business model.

Torsten Heidemann, Head of Infrastructure & Energy at Berenberg, said: “We are very pleased to announce the successful closing of our first financing for commercial and industrial rooftop solar. With our flexible transitional financing, which are also suitable for more complex, heterogeneous and more fragmented project portfolios, we support ENVIRIA in achieving relevant portfolio sizes for long-term financiers, coordinating the ideal timing of long-term financing and being able to build and commission the systems in the meantime. The transaction was implemented in a very professional, fast and creative cooperation. We are delighted to be able to accompany ENVIRIA's success story.”

Alejandro Garrido, Head of Corporate & Project Finance at ENVIRIA adds: “This transaction marks a significant milestone in ENVIRIA's growth trajectory and further strengthens the company's success story. By leveraging high-quality assets, we strengthen our position as a leading player in Germany and establish ourselves as a central one-stop-shop for commercial and industrial (C&I) solar solutions. Berenberg's deep understanding of our business enabled them to provide financing that is perfectly tailored to our needs. We greatly appreciate Berenberg's constructive approach and partnership discussions during the structuring and negotiation phases.”

Some of the rooftop solar installations are already producing green electricity and the entire portfolio is expected to be fully connected to the grid by the end of 2025. The annual amount of CO2 saved is around 17,000 tons.

Berenberg was founded in 1590 and is today one of Europe's leading private banks with divisions for Wealth and Asset Management, Investment Banking and Corporate Banking. The Hamburg-based bank, which is managed by personally liable partners, has a strong presence in the financial centers of Frankfurt, London and New York. The Infrastructure & Energy division is part of Corporate Banking and advises clients and investors on all transaction, financing and project-related aspects. With assets of one billion euros under management, Berenberg's Green Energy (Junior) Debt Funds have financed more than 100 wind and solar parks in Europe, Japan, Australia and the USA. The funds finance investments in renewable energies worldwide in the form of unitranche loans and junior debt and meet the high demands of investors both in terms of their diversification and the risk-return profile implemented. At the same time, they contribute to the global energy transition and thus make an important contribution to the environment.

ENVIRIA makes it radically easy for companies to switch to solar energy. The startup takes on the financing, planning, installation and operation of solar systems, as well as the integration of charging stations and energy storage. Solar systems can be purchased or rented. ENVIRIA also leases company rooftop areas, operates solar systems on them and markets green electricity. With more than 200 employees, ENVIRIA has implemented more than 500 commercial projects since it was founded in 2017. 

www.enviria.energy