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BlackRock backs German solar roof firm Enviria

The Witznitz energy park in Saxony, Germany

The Witznitz energy park in Saxony, Germany. Photo by Jan Woitas/picture alliance via Getty Images

German solar roof company Enviria said it's raised over $200 million from BlackRock to deploy more solar panels on buildings across Germany.

Why it matters: There's huge financial and carbon reduction potential in deploying solar panels and batteries for commercial and industrial buildings.

Zoom in: Enviria says it plans to use the funds to grow the company and deploy a pipeline of 2,000 projects that total over 2.3 GW

  • Frankfurt-based Enviria said the investment came from BlackRock's Global Renewable Power IV (GRP IV) fund.
  • Other investors in the company include Galileo Green Energy, Redalpine, Alter Equity and BNP Paribas Développement.

Big picture: The market for commercial and industrial solar has been held back by the tendency for projects to be bespoke and complex.

  • The rate of return on an investment for solar for commercial and industrial buildings depends on many factors, like the region, the building, the roof, the utility and more.
  • But some companies are using new software, data tools and AI to remove some of the friction in the process.
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