Fund manager Jaltech backs South African solar-as-a-service provider
Wetility, a South African solar-as-a-service provider, has secured about $27.7 million from Jaltech.
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Wetility, a South African solar-as-a-service provider, has secured R500 million (about $27.7 million) from Jaltech, an alternative investment fund manager focused on solar energy projects in South Africa.
The capital provided by Jaltech will be utilised to fund solar and battery systems, enabling Wetility to add over 16 MW of solar capacity.
“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,” said Dawid Swart, Wetility’s CFO.
The R500 million funding structure comprises a blend of senior and equity capital.
“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.
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