Enpal, the German solar unicorn, announced this week that the company raised an additional 215 million EUR in a Series D funding round led by TPG Rise Climate. The funding is not only a significant development for the startup but for the entire solar and clean energy sector in Europe. This round of funding will be used to support Enpal’s mission of making clean energy simple, affordable, and accessible for every household. The company plans to achieve this by installing solar panels on every roof, batteries in every home, and electric vehicle charging infrastructure in front of every door.
The participation of TPG Rise Climate, Westly Group, Activate Capital and others in this funding round is a clear indication of the growing interest and support for clean energy solutions in Europe. TPG Rise Climate is a dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise, while Westly Group and Activate Capital are also known for their focus on clean energy solutions.
Enpal’s successful growth in Germany, which is the largest residential solar market in Europe, also makes this round of funding particularly noteworthy. With this new investment, the company is well positioned to expand into new markets and products and establish itself as a leading player in the clean energy sector.
The move toward clean energy solutions is particularly important for addressing climate change. As global fossil fuel prices remain elevated, and governments enact policies to accelerate the energy transition, there is an increasing need for companies like Enpal to bring user-friendly, end-to-end solutions to more homes across Europe to combat the climate crisis.
The new funding round for Enpal is a positive development for both the company and for the push towards a more sustainable society. The support and participation of major climate investors in this round of funding highlights the growing momentum for clean energy solutions in Europe.