Impax Asset Management is collaborating with clean energy financial technology provider Bullfinch Asset to invest in distributed solar generation in Germany.
A fund managed by Impax, an asset manager focusing on opportunities arising from the transition to a more sustainable economy, has become a shareholder in Bullfinch and has partnered with the firm to form a joint investment vehicle that will invest in solar, battery storage and smart meters in the residential and commercial and industrial (C&I) sectors.
Dubbed Greenfinch, the investment vehicle will initially focus on the German market, but the partners will also seek opportunities elsewhere in Europe.
The companies will deploy capital in projects that enable locally generated energy and support the decarbonisation of the real estate sector. The projects will be managed using Bullfinch’s cloud-based clean-energy-as-a-service technology platform, which enables the bundling, financing, standardisation and management of building and facilities infrastructure, the companies said.
“We believe decentralised energy generation is one of the most exciting growth areas in the renewables sector,” said Daniel von Preyss, head of private equity/infrastructure at Impax.
Trade body SolarPower Europe lauded Germany’s attractive feed-in premiums for medium- to large-scale commercial systems in its latest EU Market Outlook for Solar Power report, published last month.
A recent acquisition in Germany’s C&I solar sector has seen utility MVV Energie purchase all the shares of AVANTAG Energy and its sister company Philipp Rass Energy to help it meet growing demand for rooftop PV from businesses in the country.