ENVIRIA, the leading provider of commercial and industrial (C&I) decentralized energy solutions in Germany, has finalized an agreement for an equity investment exceeding USD 200 million from BlackRock, facilitated through its Global Renewable Power IV (GRP IV) fund. This substantial injection of capital will bolster ENVIRIA’s expansion plans for its existing portfolio of 500 C&I solar projects across Germany.
The partnership between ENVIRIA and BlackRock underscores their strategic focus on capitalizing on the burgeoning market for decentralized energy solutions, particularly rooftop solar installations and associated services. Currently, German businesses consume approximately 70 percent of the nation’s total electricity, yet only about 10 percent of suitable commercial roofs are equipped with solar systems, leaving immense untapped potential estimated at several hundred gigawatts of renewable energy capacity. Leveraging the larger rooftop sizes characteristic of the C&I sector, ENVIRIA aims to swiftly deploy renewable energy capacity to meet this demand.
ENVIRIA is revolutionizing the energy landscape by challenging traditional power generation methods and reducing reliance on fossil fuels through the direct contribution of electricity generated by its robust solar systems to the grid. With support from Series A investors Galileo Green Energy, Redalpine, Alter Equity, and BNP Paribas Développement, the company has already established a portfolio of 500 C&I solar projects in Germany. ENVIRIA’s ambitious development pipeline includes approximately 2,000 C&I projects, totaling over 2.3 gigawatts, with plans to realize 1.7 gigawatts by 2029, thus facilitating a seamless transition towards sustainable energy.
ENVIRIA’s success lies in its comprehensive approach to the solar value chain, encompassing installation, maintenance, and asset management, thereby offering tailored solutions to overcome industry challenges effectively. This holistic strategy exemplifies the potential for growth in infrastructure solutions within an economic landscape characterized by increasing demand for renewable energy.
Melchior Schulze Brock, ENVIRIA’s Founder and CEO, expressed enthusiasm about the partnership with BlackRock, highlighting their shared vision of empowering businesses to embrace solar energy. With BlackRock’s substantial resources and expertise, ENVIRIA is well-positioned to maximize the potential of the C&I sector in Germany. BlackRock’s Climate Infrastructure team, pioneers in renewable energy investment since the late 1990s, manages USD 11 billion in client assets and has a proven track record of successful collaborations with companies globally.
Keith Mangan, Head of EMEA for Climate Infrastructure at BlackRock, emphasized ENVIRIA’s unique value proposition and its alignment with the energy transition, making it an attractive investment for their clients. Dirk Schmitz, Country Head of BlackRock in Germany, Austria, and Eastern Europe, underscored the significance of investing in renewable power infrastructure to facilitate Germany’s transition to a low-carbon economy.
J.P. Morgan SE served as the Exclusive Placement Agent to ENVIRIA for this transaction, with legal advisory provided by White & Case. The completion of the transaction is contingent upon regulatory approvals and compliance with stipulated terms and conditions.
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