In a significant move, German renewable energy company Enviria announced securing a substantial capital commitment exceeding $200 million from BlackRock, the world’s largest asset manager. The funding is earmarked to facilitate the expansion of Enviria’s commercial and industrial solar projects across Germany.
Established in 2017 and based in Frankfurt, Enviria specializes in providing photovoltaic systems tailored for businesses aiming to transition to solar power. The comprehensive services offered by the company encompass financing, planning, installation, storage, and operational solutions.
Enviria sees immense potential in Germany’s corporate landscape, where companies account for approximately 70% of the national electricity consumption. Despite this, only 10% of firms currently have solar systems installed on their roofs. Enviria aims to tap into several hundred gigawatts of untapped renewable energy capacity within this sector.
The surge in demand for solar power systems in Germany, driven by consumers seeking alternative energy sources amid fluctuations in Russian energy supplies, has been a boon for solar companies. Enviria, seizing this opportunity, disclosed having over 2,000 projects in the pipeline, collectively amounting to more than 2.3 gigawatts (GW). The company envisions realizing 1.7 GW of these projects by the year 2029.
