Galileo, with the in-house team, agrees to sell its participation in Enviria to BlackRock

GALILEO, the pan-European renewable energy development and investment platform, confirms the agreement to sell its entire participation in ENVIRIA, Germany’s leading commercial and industrial (C&I) decentralized energy solutions provider, to BlackRock which is acting through their Global Renewable Power IV (GRP IV) fund.

GALILEO’s in-house legal team took care of the operation with the general counsel Laura Belardinelli (pictured left) and the counsel Claudia Fanelli.

More details on the agreement

GALILEO supported ENVIRIA as initial Series A investor since November 2021, with a strong belief in the founder, Melchior Schulze Brock, and his strongly growing team of experts, propelling ENVIRIA to play a pivotal role in the energy transition in Germany.

For the next growth chapter, ENVIRIA will now be backed by Blackrock, an outstanding global and energysavvy financial partner, providing substantial resources for the company’s growth plans.

GALILEO and ENVIRIA will continue to build out theirsuccessful partnership under the joint venture, GALILEO ENVIRIA SOLAR, focusing on the development of high-quality ground-mounted solar PV and storage projects in Germany. GALILEO ENVIRIA SOLAR has already generated a pipeline of over 1.4 GW in various stages of development, with a plan to add approximately 1 GW of projects per year to the pipeline.

The comments

Ingmar Wilhelm, co-Founder and Chief Executive Officer, Galileo, said: “We are very happy that ENVIRIA has found the right partner to significantly scale up its decentralized solar energy generation business. Together with the other series A investors, we firmly believed in ENVIRIA’s potential, now confirmed by this significant investment from BlackRock. We look very much forward to continuing our successful collaboration with ENVIRIA in our joint venture for ground-mounted solar PV and battery storage projects in Germany and to jointly achieve the next level of size and performance”.

Melchior Schulze Brock, Founder and Chief Executive Officer, ENVIRIA, added: “We are highly appreciative of Galileo’s backing from early on, asthey were our first external investor, cheering ENVIRIA and our vision from the get-go. It is a pleasure to work with such a professional team, seasoned in utility-scale solar projects. We look forward to our continued cooperation, leveraging our synergies within the scope of our joint venture”.