Enviria, a German commercial and industrial solar startup, announced on Thursday that it has secured a capital commitment exceeding $200 million from BlackRock, the world’s largest asset manager. The investment comes as Enviria aims to expand its solar projects across Germany.
Founded in 2017 and headquartered in Frankfurt, Enviria specializes in providing photovoltaic systems to companies interested in transitioning to solar power. The company offers comprehensive solutions, including financing, planning, installation, storage, and operation services.
Despite companies accounting for approximately 70% of Germany’s national electricity consumption, only 10% of firms have solar systems installed on their rooftops. Enviria sees significant potential in this untapped market, estimating several hundred gigawatts of renewable energy capacity waiting to be utilized.
The demand for solar power systems in Germany has surged in recent times, driven by consumers seeking alternatives to expensive fossil fuels, especially following disruptions in Russian energy supplies to the country.
Enviria revealed that it has over 2,000 projects in its pipeline, amounting to more than 2.3 gigawatts (GW) of capacity. The company plans to realize 1.7 GW of projects by 2029, further solidifying its position in the German solar energy market.