Enpal, a solar PV and battery leasing solutions company, is selling a majority stake in several of its subsidiaries that hold a portfolio of residential energy systems to an investor consortium.

The consortium comprises Equitix Investment Management, Keppel Infrastructure Trust, MM Capital Partners 2, and Mizuho Leasing Company. Enpal will receive up to €65 million (~$75 million) from the transaction through multiple closings.

Enpal plans to use the transaction proceeds to fund the next phase of its platform growth and upgrades.

“This investment demonstrates the strength of our European mid-market strategy: backing essential infrastructure that provides resilient, long-term contracted cashflows while supporting the energy transition. Germany remains a highly attractive market for distributed renewable energy infrastructure, and this transaction further deepens our exposure in the DACH region,” says Achal Bhuwania, CIO of Equitix.

According to the release, the transaction marks the second investment in Enpal assets by Equitix, Keppel Infrastructure Trust, and MM Capital Partners. Mizuho Leasing is participating in an Enpal asset transaction for the first time.

The subsidiaries hold a portfolio of more than 20,000 operational residential solar projects, primarily installed on residential rooftops. The projects have a projected generation capacity of 240 MW, according to the release. The portfolio also includes leased battery storage units, the capacity of which is undisclosed.

Enpal uses dedicated subsidiaries to hold long-term customer leasing agreements. Customers make fixed monthly payments under agreements lasting up to 20 years.

Enpal will retain a 10% strategic stake and continue to manage the systems. The company will remain responsible for customer service, technical monitoring, and maintenance of the leased solar panels and battery storage units, while the ownership change will not affect its customers.

In 1H 2026, corporate M&A activity in the solar sector increased with 57 transactions compared to 50 transactions in the first half of 2025, as per the recently released Mercom’s 1H and Q2 2026 Solar Funding and M&A Report.

In May 2026, Skycorp Solar Group, a manufacturer of solar cables and solar connectors, signed a share acquisition agreement to acquire the remaining 56% equity interest in Nanjing Cesun Power, a provider of turnkey solar project services.