South African solar-as-a-service company Wetility has raised ZAR500 million (US$27.8 million) through a structured capital partnership with Jaltech to boost access to clean, affordable energy across the country.
Founded in 2021, Wetility has quickly positioned itself as a leading provider of integrated solar and battery storage solutions for households and businesses.
The company offers comprehensive solar subscription packages that empower customers to manage their electricity consumption more efficiently, lower utility costs, and reduce their carbon footprint.
Jaltech, which manages over ZAR2 billion (US$111 million) across more than 1,300 private investment portfolios, has committed the new funds to help Wetility scale up its operations.
The capital will finance the deployment of additional solar and storage systems, enabling the installation of over 16 megawatts (MW) of distributed solar energy and preventing more than 250,000 metric tons of CO₂ emissions.
Dawid Swart, Chief Financial Officer at Wetility, emphasized the importance of the partnership:
“This funding propels us into a new phase of growth. It enhances our ability to serve homeowners and small businesses looking for consistent, affordable, and clean power solutions in an unpredictable energy market. Our collaboration with Jaltech reinforces the strength of our business model and shared commitment to expanding access to renewable energy.”
The financial arrangement includes a tailored combination of senior and equity capital, crafted to align with Wetility’s accelerating expansion.
Jaltech’s backing reflects growing investor interest in scalable, impact-driven ventures operating in underserved markets.
“While we have supported Wetility on earlier growth initiatives, this marks our most significant investment to date,” said Derrick Hyde, Jaltech co-founder and partner.
“We are confident in Wetility’s potential to revolutionize residential and SME energy use in South Africa and are proud to support their continued success.”
This partnership sets a new benchmark for solar investment in the region and underscores the role of private capital in driving inclusive and scalable clean energy solutions.
With this funding, Wetility is poised to make solar energy more accessible to over a million South African homes and businesses.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
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