Solar Firm Enpal's Moat Helps It Raise Capital At Juicy Valuations From TPG

Enpal GmbH neared raising new funds from PE firm TPG Inc TPG led group that valued the closely held German solar-panel company at $2.4 billion.
TPG invested in Enpal through its inaugural Rise Climate fund, a global alternative asset manager overseeing $135 billion in assets, the Wall Street Journal reported.
The potential deal would reflect how cuts to natural-gas supplies from Russia fueled the adoption of solar power and other clean-energy sources as alternatives to fossil fuels.
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Enpal was founded in 2017 and rents out solar-power systems to homeowners. It offers rooftop solar panels, energy storage batteries, and electric-vehicle charges.
The TPG-led group, including Westly Group and Activate Capital, invested €215 million (or $230 million) in the alternative- energy company for a total valuation of €2.4 billion.
The investment marked over double the €950 million valuations Enpal achieved in October 2021, when it raised new equity from Softbank Group Corp SFTBF SFTBY.
Enpal's stronger financial footing offered a fundraising advantage versus high-risk, money-losing startups in the present macroeconomic scenario.
Enpal served 30,000 residential customers, and its revenue exceeded €400 million in 2022, WSJ reported.
Price Action: TPG shares closed higher by 0.8% at $30.29 on Friday.
Photo via chelsea Wvus via Unsplash