South African solar service provider Wetility has raised R500 million in structured capital from investment firm Jaltech to expand its delivery of solar and battery systems to households and small businesses.
The capital injection will enable Wetility to add more than 16 MW of distributed solar capacity to the national grid and is expected to help avoid over 250,000 metric tons of carbon emissions. The funding structure combines senior and equity capital, tailored to match the company’s current growth pace.
Jaltech, known for investing in underfinanced sectors, identified Wetility as a key player in addressing energy insecurity in the country. Load shedding and other supply interruptions continue to impact South African households and businesses, prompting increased demand for decentralized energy solutions.
Both companies see the deal as a foundation for additional funding rounds, with plans to scale solar access to hundreds of thousands more users in the coming years.
Source: Energy Capital & Power
