South African solar energy provider Wetility has secured a major investment of ZAR 500 million (USD 28.1 million / EUR 24.2 million) from Johannesburg-based alternative investment fund manager Jaltech to support the rollout of solar and battery systems across the country.
Announced via a joint statement, the structured capital agreement — which combines senior and equity financing — will enable Wetility to deploy over 16 MW of new solar capacity, contributing significantly to South Africa’s distributed energy network. The rollout is expected to reduce more than 250,000 metric tonnes of CO₂ emissions.
“This funding unlocks the next phase of our growth, empowering thousands of homeowners and SMEs who want more predictability, control, and savings in the face of a volatile energy landscape,” said Dawid Swart, Chief Financial Officer at Wetility.
Wetility operates as a solar-as-a-service company, offering all-in-one solar subscription bundles to households and businesses. The company has set a bold target of reaching over one million customers with clean and cost-effective solar energy across South Africa.
Jaltech, a specialist in solar-focused investment, manages over ZAR 2 billion in assets and has supported more than 250 solar installations to date.
“Over the years, Jaltech has assisted Wetility with portions of its growth plans, but we are now ready to stand firmly behind them and back their mission to deliver reliable energy to thousands of homes,” said Derrick Hyde, co-founder and partner at Jaltech.
The new investment positions both companies to play a crucial role in accelerating South Africa’s clean energy transition, offering scalable solar and battery solutions amid ongoing challenges in the national energy grid.
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