SolarSaver Bags $60M to Expand SME Solar Solutions in Southern Africa
TLDR
- South African solar developer SolarSaver has secured $60 million to scale its small-scale solar and battery systems for businesses across Southern Africa
- The company builds, owns, and operates rooftop and on-site energy systems, supplying electricity to clients through power-purchase and rent-to-own contracts
- The equity round was led by Inspired Evolution’s Evolution III Fund alongside Dutch development bank FMO, with Swedfund also participating
South African solar developer SolarSaver has secured $60 million to scale its small-scale solar and battery systems for businesses across Southern Africa. The company builds, owns, and operates rooftop and on-site energy systems, supplying electricity to clients through power-purchase and rent-to-own contracts that require no upfront capital.
SolarSaver currently operates more than 700 installations with a combined capacity of roughly 140 MW in South Africa, Namibia, Botswana, and Zambia. The new funding will support the deployment of more distributed solar and battery systems, helping small and medium-sized enterprises facing persistent power shortages and rising electricity costs.
The equity round was led by Inspired Evolution’s Evolution III Fund alongside Dutch development bank FMO, with Swedfund also participating. Investors say the investment will help expand reliable clean-energy access for businesses in a region where grid instability continues to weigh on productivity.
“Access to dependable and affordable energy is essential for private-sector growth, job creation, and climate resilience,” said Jonas Kolijn, senior investment manager for energy and climate at Swedfund. “Through this investment, we help strengthen energy security and support fossil-free economic growth in one of Africa’s key economic regions.”
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Key Takeaways
SolarSaver’s raise reflects growing investor demand for scalable, decentralised energy solutions that address chronic power shortages across Southern Africa. For many SMEs, unreliable electricity remains one of the biggest constraints to operations, often forcing them to rely on expensive diesel generators. By offering solar-and-battery systems with no upfront payment, SolarSaver lowers adoption barriers and helps businesses stabilise energy costs. The participation of major development financiers — FMO and Swedfund — alongside Inspired Evolution underscores the role of blended capital in accelerating clean-energy deployment in hard-hit markets. Distributed systems also ease pressure on national grids, supporting broader economic resilience. As Southern African countries pursue energy-transition strategies, companies like SolarSaver are positioning on-site renewables as a practical alternative for businesses seeking reliability and cost control. The funding is likely to boost project pipelines, encourage regional replication, and contribute to a more decentralised electricity landscape over the coming decade.
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