zolar, one of Germany’s leading digital platforms for residential solar, raised €100 million funding together with BNP Paribas, a global financial institution. This partnership marks the launch of zolar’s financing solution for residential solar consumers, “zolar Easypay”.
With this solution, the climate-tech is expanding its product offering for German households. zolar Easypay is a groundbreaking, completely flexible and individual instalment loan to own solar systems and related energy management products. It reinforces zolar’s mission of enabling customers to save money through the adoption of solar energy by allowing them to choose between making a one-time upfront payment or opting for a flexible monthly fee.
Jamie Heywood, CEO at zolar, said: “This new offering represents a pivotal milestone for zolar and the consumers we serve. As the residential solar market matures, the demand for innovative financing solutions has never been more apparent. We are excited to lead this transformation with zolar Easypay, offering unparalleled value to our customers.”
Manish Chandra, Head of ABS Markets and Financing at BNP Paribas, commented: “We are proud to support zolar in their mission of making renewable energy easy and accessible for everyone. BNP Paribas is committed to financing the green transition and we are excited to contribute our expertise in developing this new asset class in Europe.”
“We are thrilled to have advised zolar and contributed our expertise in the field of sustainable securitisation to this transaction,” added Dietmar Helms, Partner at Hogan Lovells, the law firm with extensive credentials in green ABS transactions.
Since zolar was founded 2016, it raised close to €300 million to support its mission. This transaction, alongside other deals recently seen in the market, is a testimony to the evolution of the market and increased interest from financial institutions in the sustainable and green transition sector in Europe.
The climate tech startup provides homeowners and regional tradespeople with access to individual solar solutions via a simple online platform. zolar’s mission is to enable people to benefit from affordable, self-generated green energy while making an important contribution to climate protection. zolar aims to supply more than ten million households in Europe with renewable energy by 2030.
Read the orginal article: https://www.eu-startups.com/2024/04/berlin-based-zolar-secures-e100-million-to-launch-new-financing-solution-for-residential-solar-customers/
