Tigi partners with Eren Groupe to meet growing demand for renewable heat sources

Eren will participate in a fundraising round to become a minority shareholder in Tigi and boost its growth. Up to €40 million will be made available for equity financing of projects, providing the capacity to finance projects worth €100 million.

As the energy market shifts from natural gas to renewable energy, the heating sector has become a focal point, accounting for a large share of global energy demand. Recent events, particularly in the aftermath of the war in Ukraine, have prompted an increased drive to move away from fossil fuels.

Tigi recently completed the acquisition of Austrian company Solid, a leader in large-scale solar thermal heating systems. Tigi and Solid have installed over 250 systems in over 30 countries and serve multiple industries and geographies. The closing of the agreement with Eren, a pioneer in renewable energy in Europe, creates a combined global partnership that includes technology leadership, global execution and strong financial strength.

“We are pleased to partner with Tigi to jointly establish a first-of-its-kind renewable heat project platform,” said Yonatan Shek, Managing Director of Eren Groupe. “We believe that large-scale renewable heat represents a significant global opportunity that was previously underappreciated but has recently gained momentum. By combining the expertise, technology and know-how of all three companies, I believe we are setting the stage for the next important step in our journey to facilitate the energy transition and the path to further decarbonization.”

For additional information:

Tiger

Eren Group