Partnership for a decentralised energy transition: Greenfinch invests in DZ-4 solar system portfolio

Jul 27, 2022

Support for 2,200 solar systems across Germany

Greenfinch is a joint investment vehicle established by a fund managed by Impax Asset Management and Bullfinch Asset AG, a clean energy financial technology provider. Impax Asset Management is a specialist asset manager investing in the transition to a more sustainable economy. The investment vehicle allows to deploy capital in projects that enable locally generated energy and support the decarbonisation of the real estate sector.

The portfolio acquired by Greenfinch includes about 2,200 individual rooftop systems, consisting of solar systems and battery storage, which are set up throughout Germany.

Daniel von Preyss, Head of Private Equity/Infrastructure at Impax Asset Management said: “The partnership with DZ-4 is an excellent addition to Greenfinch's portfolio of decentralised generation assets, which is an exciting area of ​​development in the renewables sector. We are delighted to be working with such an experienced company and look forward to continue growing the relationship with DZ-4.”

Decentralised generation of electricity for independence in terms of energy policy

As a full-service leasing provider for solar systems and electricity storage devices,DZ-4 has been supporting homeowners since 2012 with an all-round xfree package in making themselves independent of electricity suppliers, expediting their own energy transition and becoming a producer of green electricity themselves. EnBW has been the majority owner of DZ-4 since 2021, which continues to operate as an independent company.

Niklas Winter, Managing Director and COO at DZ-4 GmbH: “Every solar system promotes decentralised generation of electricity and is an important step for the energy transition. The past few months have shown once again how important it is to rapidly expand renewable energies. Not just to be able to do without climate-damaging fossil fuels in the future, but also to promote independence in terms of energy policy and to slow down the sharp rise in electricity costs.With the support of Greenfinch, we are getting closer to this goal.”

According to a recent survey by the Hamburg market research institute Appinio, 25 percent of German homeowners want to invest in a photovoltaic system this year. This is the equivalent of around 3.5 million single-family homes. The developments ensure an investment boom by investors in the solar market – a trend that will continue until Germany switches to electricity from 100 percent renewable energies in 2030.

About Greenfinch

GreenfinchGmbH & Co.KG, based in Frankfurt am Main, was founded in 2021. The investment vehicle was set up to invest in decentralised clean energy projects with the support of its two partners, Impax Asset Management, via a shareholding from a fund that it manages, and Bullfinch Asset AG.

About DZ-4

DZ-4was the first company in Germany to launch the solar system rental model in2012. The all-round carefree package offers homeowners the opportunity to renta tailor-made solar power system with or without storage via a monthly rate.The offer includes a guaranteed fixed price for the entire contract period and service from a single source – including insurance, remote maintenance and repairs to the solar system and storage system. EnBW has been the majority shareholder of the Hamburg solar pioneer since 2021.

About Bullfinch Asset AG

Bullfinch Asset AG, based in Frankfurt am Main, was founded in 2019. The company is committed to a world powered by renewable energy: The Clean-Energy-as-a-Service technology platform enables the bundling, financing, standardisation and management of sustainable building and facility infrastructure to make this vision a reality. bullfinch’ s solutions span four verticals: Energy Generation, Clean Mobility, Energy Storage and SmartBuildings. Through partnerships with institutional investors and innovative energy hardware providers, they bridge the gap between capital and opportunity, enabling the accelerated global transition to clean energy.

About Impax Asset Management

Founded in 1998, Impax is a specialist asset manager, with approximately £34.5bn / US $42.1bn as of 30 June 2022 in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.

Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt.

The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.

Impax has ca. 245 staff across six offices in the United Kingdom, the United States,Ireland and Hong Kong, making it one of the investment management sector’s largest investment teams dedicated to sustainable development.