Wetility Secures R500-Million Funding from Jaltech to Accelerate Solar Expansion Across the Country

In a major boost to South Africa’s distributed energy transition, Wetility, one of the country’s fastest-growing solar-as-a-service providers, has secured a R500-million structured capital partnership with Jaltech, a leading solar energy investment firm. The deal marks a significant milestone in Wetility’s mission to bring clean, reliable, and affordable solar power to over one million homes and businesses nationwide.

The funding, which includes a strategic blend of senior and equity capital, is tailored to match Wetility’s scaling operations and will be deployed to install solar and battery systems across the country. The initiative is expected to add over 16 MW of solar capacity and help avoid more than 250,000 metric tons of CO₂ emissions, reinforcing South Africa’s climate and energy resilience efforts.

Wetility CFO Dawid Swart said the funding represents a crucial step forward.
“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. It’s a strong endorsement of our model and mission, and we’re proud to partner with Jaltech, which shares our long-term vision. Together, we’re driving scalable, inclusive access to clean energy — one roof at a time,” Swart noted.

Jaltech, known for supporting private market opportunities in underserved sectors, identified Wetility as a high-impact player with the potential to transform the residential and SME energy market in South Africa.

Derrick Hyde, co-founder and partner at Jaltech, commented on the deepening partnership:
“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.”

The funding comes at a time when energy unavailability, including load shedding and other utility disruptions, remains one of South Africa’s most critical socio-economic challenges. The partnership between Wetility and Jaltech is seen as a model for scalable, private-sector-led interventions to address the country’s urgent energy needs.

Looking ahead, both companies expect this capital infusion to serve as a blueprint for future funding rounds, supporting Wetility’s national scale-up strategy and expanding solar energy access to hundreds of thousands more South African households and businesses in the coming year.