Inspired Evolution leads $60m equity round into Sedgeley Solar Group
SSG provides solar and battery storage solutions for commercial and industrial clients in Southern Africa.
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Inspired Evolution’s Evolution III energy transition fund has invested $30 million in Sedgeley Solar Group (SSG). The deal is part of a broader $60 million investment in the company from a consortium that also includes development finance institutions FMO and Swedfund. The newly formed SSG consolidates two Southern African renewable energy businesses, SolarSaver and Sedgeley.
SSG brings together SolarSaver’s portfolio of contracted commercial and industrial (C&I) solar and battery energy storage system assets with Sedgeley’s engineering, procurement, construction and operations capabilities, creating a streamlined, vertically integrated business and one of the largest C&I energy platforms in Southern Africa. The group operates across South Africa, Namibia, Botswana and Zambia.
The transaction includes significant re-investment from the founders and RMB Corvest, alongside new growth capital from the incoming consortium to accelerate the rollout of additional C&I systems.
“This new investment marks an exciting milestone in our mission to deliver reliable, affordable clean energy to commercial and industrial clients across the region,” said Tim Frankish, co-founder of SolarSaver and Sedgeley. “Our partnership with world-class investors like Inspired Evolution, FMO and Swedfund provides both the capital and expertise to accelerate our expansion and deepen our sustainability impact.”
“We are pleased to support SSG at a pivotal time when solar and battery solutions have become least-cost, accelerating clean energy infrastructure across the continent,” said Christopher Clarke, managing partner at Inspired Evolution. “SSG’s proven business model, experienced management team and established footprint across the Southern African region, make it an ideal investment platform for growth and impact.”
“We remain committed to a just and inclusive energy transition and private sector development and are proud to once again work with trusted partners to scale impact where it’s needed most,” commented Mauricio Magri, investment manager as FMO.
“Access to dependable and affordable energy is essential for private sector growth, job creation and climate resilience,” noted Jonas Kolijn, senior investment manager for energy and climate at Swedfund. “Through this investment, we help strengthen energy security and support fossil-free economic growth in one of Africa’s key economic regions.”
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