Hogan Lovells advises Berenberg and the Berenberg Green Energy Debt Funds on the financing of ENVIRIA for the construction of Germany's largest rooftop solar pipeline

Press releases | 14 January 2025

Led by partner Dr Carla Luh and counsel Stipe Bojanić, global law firm Hogan Lovells has advised the private bank Berenberg and the Berenberg Green Energy Debt Funds managed by Berenberg (together Berenberg) on the unitranche financing for a German photovoltaic portfolio from ENVIRIA.

Berenberg is providing unitranche financing of up to 60 million euros. The initial portfolio consists of 84 projects and can be flexibly expanded to up to 150 projects. All projects benefit from the security provided by an EEG tariff (Renewable Energy Sources Act), contributing to sustainable energy supply in the long term. The tailored contractual structure allows ENVIRIA to accelerate the development and expansion of rooftop solar installations through flexible disbursement and repayment models, enabling it to achieve its growth objectives more quickly.

The value and growth potential of ENVIRIA's business model is further confirmed by the recent investment from the world's largest asset manager, BlackRock, which invested over 200 million dollars in ENVIRIA.

Hogan Lovells provided Berenberg with comprehensive legal advice on the financing.

"Decentralized energy supply through rooftop PV systems is one of the largest fields of growth in the energy transition with great potential, and we are delighted to be able to advise our long-standing client Berenberg with innovative financing structures," said Carla Luh, head of the German finance practice.

Hogan Lovells team for Berenberg

Dr Carla Luh (Partner), Stipe Bojanić (Counsel), Julian Schulz (Associate), Dr Marzieh Rad (Associate), Dr Georg Joecker (Associate)