The securities bundle loans that households pay for their photovoltaic systems.
(photo: IMAGO/Westend61)
Frankfurt Renewable energy startup Enpal wants to take part in the asset-backed bond boom and is the first German company to issue such as ABS. The so-called asset-backed security is secured by loans for solar energy systems. Enpal builds solar systems on its own and then leases them out over 20 years to landlords who install the panels on their roofs. At the end of the semester, you can take over the system for a small fee.
The company was the first German “unicorn” in the renewable energy sector, i.e. a startup valued at over €1 billion. A funding round in January doubled the valuation to $2.25 billion. The company is now syndicating some of the loans Enpal took out to fund its photovoltaic systems at ABS and selling them to investors.
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