Korean Energy and climate tech company Enlighten has secured $20.8 million (30 billion KRW) in funding through its subsidiary to expand its rooftop solar business. The investment will be used to scale up 140MW of rooftop solar installations utilizing idle rooftops of industrial facilities such as factories and logistics centers.

Enlighten attributes the successful fundraising to its proven track record in structuring and executing rooftop solar projects. The company manages the entire process from roof acquisition to permitting, contract structure design, financial connectivity, and construction to operation. Through its digital-based operational system, Enlighten has enhanced operational efficiency and management capabilities. Templeton Hana Asset Management will manage the fund and oversee capital deployment.

Recently, inquiries for rooftop solar adoption using idle spaces like factory roofs have increased, driven by large and mid-sized companies’ RE100 compliance needs, electricity cost reduction goals, and ESG management demands. Enlighten has rapidly expanded its pipeline of commercially viable projects based on this demand, and plans to accelerate the commercialization and expansion of its secured pipeline with this investment.

Building on its structuring capabilities, enlighten has executed major corporate rooftop solar projects including Lotte Global Logistics nationwide logistics centers (7.6MW), Daedong Mobility Daegu S-Factory (3MW), AJ Networks Cheonan Center, and Lotte Chemical Basic Chemical Research Institute. Based on these execution experiences, the company plans to accelerate project expansion utilizing industrial facility idle rooftops and pursue 140MW of total facility expansion.

Additionally, Enlighten plans to expand its rooftop solar-based PPA power supply model targeting power-intensive industries such as data centers, where electricity demand is rising due to AI proliferation. The strategy involves securing generation resources using corporate idle rooftops and designing and connecting PPA contract structures that reflect demand-side power usage and RE100 requirements, thereby supporting companies in stably procuring renewable energy while reducing electricity cost burdens.

Youngho Lee, CEO of Enlighten, stated, “As corporate demand for rooftop solar adoption expands, the importance of securing financing for actual commercialization is also growing. This investment will serve as a catalyst to accelerate commercialization based on the structuring and execution capabilities enlighten has accumulated in the rooftop solar market.” He added, “Enlighten will combine business development, construction and operation capabilities, and digital-based operational systems to consistently perform all processes from development to operation, accelerating business expansion.”