Linklaters advises BlackRock on its agreement with ENVIRIA for an equity investment of over $200m

Linklaters has advised asset manager BlackRock on its agreement with ENVIRIA for an equity investment of over USD 200 million from its Global Renewable Power IV (GRP IV) fund. ENVIRIA, a leading commercial and industrial decentralized energy solutions provider, will use the capital to finance the expansion of its existing 500 commercial and industrial solar projects across Germany as part of the company's growth plan. 

With this investment, ENVIRIA and BlackRock are leveraging one of the greatest growth areas in the energy transition: offering decentralized energy via rooftop solar and adjacent services at scale. It is estimated that German companies consume around 70 % of the total national electricity usage, while only around 10 % of suitable company roofs are equipped with a solar system. This leaves a potential of several hundred GW of renewable energy capacity untapped. With rooftop sizes across the C&I sector being on average significantly larger than residential buildings, renewable energy capacities can be rapidly deployed.

Linklaters advised BlackRock under the leadership of partners Dr Jens Hollinderbäumer (Energy/M&A, Berlin) and Michael Honan (Corporate/M&A, London), who were supported by Amalia Halvatsioti (Associate, M&A/Energy, Berlin). 

Closing of the transaction is subject to regulatory approvals and certain terms and conditions in accordance with the transaction agreements.