GlobalCapital European Securitisation Awards: success for Golden Ray and Green Lion 2024

The winners are decided by market participants, a broad audience of both investors and managers as well as other industry professionals including banks, fund administrators, custodians, accountants, auditors, law firms, consultants and fund distributors. In addition to the polled awards, 3 awards categories (of which the Overall Best Deal of the Year) are pitched, i.e. made by editorial decision. 

• ABS Deal of the Year
• Esoteric ABS Deal of the Year
• Most Innovative Deal of the Year
• ESG Deal of the Year

Based in Berlin, Enpal is a leading provider of solar and heat pump systems offering an integrated solution for renewable energy. Founded in 2017, Enpal has digitised and revolutionised the purchase of green energy with its rental model and flexible, no-down-payment purchase option, already serving more than 80,000 residential customers.

In October 2024, Enpal successfully placed Europe’s first public residential solar securitisation program. This debut transaction of €240 million, labelled “Golden Ray – 1”, is backed by 8,500 loans provided to German residential homeowners for financing photovoltaic systems.

The transaction was structured to comply with the IMCA Green Bond Principles and has been rated by Moody’s and KBRA.

Crédit Agricole CIB was a joint lead manager.

Green Lion 2024-1 is a residential mortgage-backed securitisation (RMBS) of Dutch owner-occupied mortgages for energy-efficient homes in the Netherlands for ING Bank N.V. The deal follows the triple-award winning Green Lion 2023 and is testimony to ING Bank’s green credentials in home loans.

Crédit Agricole CIB acted as a Joint Lead Manager of the issue.