Hogan Lovells advises Enpal on Securitization of Solar Loan Receivables of up to €356 million for first German residential solar ABS

Press releases | 30 March 2023

Led by Frankfurt partner Dr Dietmar Helms and Counsel Johannes Rothmund global law firm Hogan Lovells has advised Berlin-based Greentech Enpal B.V. on a €356 million debt commitment for the first German residential solar securitization. 

Enpal has partnered with Citi, a global investment bank and one of the leading players on the US residential solar ABS market, as well as M&G Investments, a UK-based leading asset manager with c. €391 billion assets under management. This transaction marks the first investment by Citi and M&G into European residential solar assets and the launch of Solar ABS as a new European asset class. The commitments will be used to finance more than 12,500 new solar systems for Enpal’s customers, including energy storage and electric vehicle charging systems. 

Founded in 2017, solar start-up Enpal is Germany's first green unicorn. This transaction brings Enpal’s total refinancing commitments to more than €1.6 billion.

Hogan Lovells acted as exclusive Legal Advisor to Enpal in this transaction.

Hogan Lovells Team for Enpal B.V.

Dr Dietmar Helms (Partner), Johannes Rothmund (Counsel) (both Capital Markets, Frankfurt);

Dr Heiko Gemmel (Partner), Nico Neukam (Counsel) (both Tax, Dusseldorf);

Ariane Mehrshahi Marks (Partner), Agnes Merz (Senior Associate) (both Capital Markets, Luxembourg);

Jean-Philippe Monmousseau (Counsel, Tax, Luxembourg) ;

Alexander Fortuin (Partner, Tax, Amsterdam).