BlackRock has agreed to invest €183 million in German PV installer Enviria.
Envira supplies decentralized PV solutions for businesses. It has developed nearly 500 C&I projects in Germany and has around 2,000 C&I projects in its portfolio, with a combined capacity of nearly 2.3 GW.
BlackRock acquired a 14.7% stake in Enviria from Switzerland-based Galileo.
However, Galileo and Enviria remain partners because they jointly run a venture specializing in the development of large-scale solar and storage plants in Germany. Galileo said the entity has a portfolio of projects of 1.4 GW at various stages of development, and plans to add around 1 GW of projects per year.
“Together with the other series A investors, we firmly believed in Enviria’s potential, now confirmed by this significant investment from BlackRock,” said Galileo CEO Ingmar Wilhelm.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
That is great news. It’s all about collaborating and doing good work to back it up. Congratulations on the partnership. Thank you for this insight Marie Breyer!