Milk the Sun Gets Venture Capital Funding to Expand Solar Sales

Jan 28, 2014 10:30 am ET

Jan. 28 (Bloomberg) -- Milk the Sun GmbH, a German online seller of solar plants that has brokered about 60 million euros ($82 million) of deals, got financing to expand abroad.

Investment funds Howaldt Energies Verwaltungs GmbH and Gruenderfonds Muensterland, managed by ECAPITAL Entrepreneurial Partners AG, bought shares in the company, Chief Executive Officer Felix Krause said in an interview, declining to specify the size of their purchase. Milk the Sun and the two investors plan to release a joint statement on the deal this week.

“We want to use the money to further develop our platform and break into global markets” by spending more on sales and marketing, Krause said by telephone from Berlin, where the company is based.

Milk the Sun uses a web-based platform, in operation since 2012, to broker sales of solar plants of 30 kilowatts to 5 megawatts in Germany and abroad. It manages bigger sales of utility-scale solar facilities and plant portfolios via a closed section of the website aimed at institutional investors.

Grid-connected projects for sale on its platform include a 2.9-megawatt plant in Saxony, Germany, for 5.78 million euros and a 544-kilowatt site in Portugal for 679,544 euros. It’s also offering project rights for a 2.3-megawatt plant in California costing $128,000.

--Editors: Amanda Jordan, Alastair Reed