Wetility Secures $27.8M to Scale Solar Access Across South Africa
TLDR
- South African solar-as-a-service company Wetility has secured ZAR500 million ($27.8 million) in structured capital from Jaltech
- Wetility offers bundled solar and battery subscription plans, helping households and small to medium-sized enterprises (SMEs) reduce their reliance on the national grid
- The new funding will enable the deployment of over 16 MW of solar capacity and help avoid more than 250,000 metric tons of CO₂ emissions
South African solar-as-a-service company Wetility has secured ZAR500 million ($27.8 million) in structured capital from Jaltech, a leading solar project funder, to expand its clean energy offering to over one million homes and businesses across the country.
Founded in 2021, Wetility offers bundled solar and battery subscription plans, helping households and small to medium-sized enterprises (SMEs) reduce their reliance on the national grid. The new funding will enable the deployment of over 16 MW of solar capacity and help avoid more than 250,000 metric tons of CO₂ emissions, reinforcing Wetility’s role in addressing South Africa’s energy shortfalls.
“This funding unlocks the next phase of our growth,” said Dawid Swart, CFO of Wetility. “It empowers thousands of homeowners and SMEs who want more predictability, control, and savings.”
Jaltech’s investment—a mix of senior and equity capital—builds on years of support and marks a major step in backing Wetility’s distributed energy model. The deal adds to Jaltech’s ZAR2 billion asset portfolio and signals growing interest in scalable solar solutions targeting underserved market segments.
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Points clés à retenir
Wetility’s funding round with Jaltech reflects a broader market shift in how South Africa is financing its energy transition. With Eskom’s grid under pressure and load-shedding persistent, decentralised energy models are gaining traction, especially in the residential and SME sectors, which remain underserved by large-scale infrastructure projects. The deal also underscores how alternative investment managers like Jaltech are stepping in where traditional financiers have lagged, deploying private capital into climate-aligned infrastructure with long-term yield potential. Jaltech’s model—focused on blending retail capital into structured vehicles—opens a new channel for funding clean energy in frontier markets.
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