Energy-as-a-Service company Solarise Africa has announced a funding partnership with Mergence Investment Managers, securing a R160 million investment. The funding will be used to deploy Commercial Industrial scale renewable energy solutions across South Africa.
Despite a recent decline in residential solar uptake in 2024, largely due to a reduction in load-shedding, the C I solar market in South Africa continues to thrive. Businesses continue to invest in renewable energy solutions not only to safeguard against an unreliable grid but also to lower electricity costs and demonstrate a commitment to sustainability and climate action, said Jan Albert Valk , Co-Founder and CEO of Solarise Africa.
The introduction of a local debt, as well as mezzanine facility will enhance the companys ability to increase its industry profile and further its impact on renewable energy adoption. This facility enables us to accelerate our growth and reach more businesses in need of reliable, clean energy solutions. It is a testament to the growing confidence in renewable energy in South Africa and our role in this transformative journey, said Valk.
PSG Capital, supported by Viruni Capital Partners, advised on the acquisition of the funding which will primarily be used to finance the installation and expansion of solar energy systems for commercial and industrial clients.
Sign up to receive our newsletters and magazine free - click here.
