New financing division established by Enpal
Title: Enpal Financial Services: The Solar Giant Steps into the Financial World
Diving into the Securitization Pool
Enpal Financial Services, the financial arm of solar energy provider Enpal, took the plunge into the securitization market in November with a transaction backed by customer loans – marking the entrance of a "new asset class" into the securitization market, as Felix Eisel, one of Enpal's co-founders, shared in a podcast on the Börsen-Zeitung's Sustainable Investing. This move opens up fresh financing options on the capital market, a strategic necessity for Enpal, which has primarily financed its rapid growth through debt and offers solar installations on installment plans for several months.
Financial Pioneer with a Twist
With a career deeply rooted in finance, Eisel had long had a different perspective. Before joining Enpal, he was at f3x Capital, a boutique fund. However, the sustainability bug bit him, as he recalls his time as an investor, actively working with companies to create change. Intrigued, he connected with Enpal co-founder, Viktor Wingert, transitioning from the investor's chair to the corporate side.
The Power Players at EFS
Eisel expects EFS to use access to the securitization market regularly, with an estimated annual trip to market. To build the young unit, it was essential to assemble a skilled team. According to Eisel, the team should consist of industry veterans accustomed to structured financings and those with regulatory experience to navigate the complex ESG terrain. Luckily, Eisel found that the house at Enpal was rich in network and expertise. The Financial Services core team today consists of around 30 people, closely collaborating with Enpal Group's refinancing team, which handles lease agreements and other refinancing needs.
Solar Provider or Financial Services Provider: A Question of Identity?
While Enpal remains rooted in solar installation operations, Eisel emphasizes that financing is a crucial aspect of the company's value creation in solar installations purchased on installment plans. On his LinkedIn profile, Eisel characterizes his approach as "reconciling bold entrepreneurship with the constructive paranoia of an investor." With the impressive interplay of characters in the EFS team, Eisel believes they have managed to form a pretty good team to take on this challenge.
References- [1] Börsen-Zeitung, "Sustainable Investing Podcast" (Interview with Felix Eisel)- [2] Finanz Nachrichten, "Enpal Financial Services begins securitisation of customer loans"- [3] LinkedIn profile of Felix Eisel- [4] Enpal Group website and company reports
- The securitization market welcomed a new player in November, as Enpal Financial Services, the financial arm of solar energy provider Enpal, entered the market with a transaction backed by customer loans.
- Enpal Financial Services (EFS) plans to regularly use access to the securitization market, with an estimated annual trip to market, as they work towards building a skilled team composed of industry veterans and regulatory experts.
- In a podcast on the Börsen-Zeitung's Sustainable Investing, Felix Eisel, one of Enpal's co-founders, shared insights about the solar giant's foray into finance, emphasizing the importance of securitization for the company's value creation in solar installments.
- With a background in finance, Eisel transitioned from his role as an investor at f3x Capital to work on the corporate side at Enpal, driven by a passion for sustainability and a desire to create change.
- Following the growth of Enpal through debt financing and installment plans for solar installations, the company's identity may evolve from that of a solar provider to a financial services provider, according to Felix Eisel's characterization on his LinkedIn profile.
