• Funding will support the scaling of Enpal’s heat pump and smart metering business, the B2B service platform Enpal.pro, as well as the national rollout of its Virtual Power Plant (VPP).

• Led by TPG Rise Climate, with participation from The Westly Group, Ontario Power Generation Pension Fund (OPG), and other existing investors, the round was oversubscribed just one week after launch.

• Enpal expands market share and reports record-breaking revenue following sector consolidation.

Berlin, 07. April 2025 – German Greentech unicorn Enpal has raised €110 million in growth capital to strengthen its position as a fully integrated provider of renewable energy solutions. The funding will be used to scale its rapidly growing heat pump and smart metering business, expand its digital B2B platform Enpal.pro, and roll out its Virtual Power Plant (VPP) across Germany.

The round was led by global impact investor TPG Rise Climate, with participation from The Westly Group, Ontario Power Generation Pension Fund (OPG), and several other existing investors. The round attracted strong investor demand and was significantly oversubscribed after just one week. While the majority of funds come from existing shareholders who are increasing their commitment to the company, Enpal also welcomed a leading European insurance group as a new investor.  

Following a year of market consolidation and investing more than €100 million into new business segments in 2024, Enpal has emerged stronger, observing significant market share growth in all key segments and becoming the German market leader in heat pumps.  

These strategic moves are already showing results: February and March 2025 marked the most successful revenue months in Enpal’s history. The company’s transformation from a solar-focused business into a fully integrated energy provider is accelerating, driven by its comprehensive product offering that now includes heat pumps, the growing B2B service platform Enpal.pro, and a direct-to-market energy trading platform (Enpal.One+).  

With the newly raised capital, Enpal will continue to scale these business areas profitably in 2025. With this financing, the company now also increased its cash balance to more than €250 million.  

“After two years of major shifts in the energy market, it’s clear that our strategic decisions were the right ones. Enpal.One+ and our B2B installer platform address current challenges of the energy transition: high energy prices and a critical labor shortage. At the same time, our new heat pump offering completes a fully integrated, climate-friendly home energy solution. The fresh capital enables us to build further sustainable growth,” said Mario Kohle, Founder and CEO of Enpal.

Enpal was advised by Berenberg as financial advisor and White & Case as legal advisor.

About Enpal

Enpal, the greentech unicorn in Germany, offers an integrated solution for renewable energy and is a pioneer in Germany's energy transition. As a leading provider of solar and heat pump systems, the company has already integrated ca. 260,000 Distributed Energy Resources (DER) into the Enpal system. The PV system is part of an integrated energy ecosystem consisting of a battery storage system, an EV-charging station, a heat pump and the leading energy-trading-platform Enpal.One+. Founded in 2017, Enpal has digitized and revolutionized the purchase of green energy for a fossil-free home with flexible, no-down-payment purchase options. More than 90,000 Enpal-equipped households already make up our climate-friendly renewable energy community. Enpal’s investors include some of the world’s largest impact and technology investors, such as TPG Rise Climate, The Westly Group, Activate Capital, Softbank Vision Fund II, Princeville Climate Technologies, HV Capital, Team Global, and Picus Capital.  

Media Relations

Lea Heck

Corporate Communications

lea.heck@enpal.de