Fledgling Berlin solar energy company Enpal has announced the completion of a nine-figure round of financing. The start-up said that its business has increased dramatically since the beginning of the coronavirus, but it’s aiming for still bigger things yet to come.
“By 2030 we want to have one million customers and build up a renewables network open to all,” Enpal CEO Mario Kohle told business newspaper Handelsblatt.
Founded in 2017, Enpal rents solar energy panels and batteries long-term to its customers for roughly the price of their monthly energy bills. At the end of a twenty-year period, clients have the option of purchasing the units for a nominal fee. Enpal is planning to expand its package to include wall boxes and charging stations for electric vehicles. It is also working on regenerative heating solutions.
After years of stagnation, the German solar energy sector has made a major comeback in recent months, and experts predict robust growth for the future.