South Africa: Mergence makes follow-on mezzanine investment in Solarise Africa
Mergence Investment Managers has announced an additional $3.4 million investment in Solarise Africa.
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South Africa-based Mergence Investment Managers has announced an additional R60 million (about $3.4 million) investment in Solarise Africa, an energy solutions company operating across the continent. The latest funding, structured as a mezzanine facility through preference shares, will support the further roll-out of commercial & industrial (C&I) renewable energy solutions in South Africa.
This deal follows a R160 million (about $9 million) investment closed late last year.
Sakkie van Wijk, co-founder and COO of Solarise Africa, stated: “We are honoured by the continued support from Mergence. This follow-on investment speaks volumes about their confidence in our strategy, performance, and future prospects. With this funding, we will be able to extend our reach and accelerate the implementation of high-impact energy projects for businesses across South Africa.”
“Our additional investment in Solarise Africa reflects our belief in the resilience of the C&I renewable energy sector and in Solarise Africa’s ability to deliver on its promise,” said Mosa Molebatsi, head of private debt at Mergence Investment Managers. “We are proud to back a platform that is enabling cleaner, more reliable energy for businesses, while contributing to South Africa’s climate and economic goals.”
The new capital will support the deployment of additional solar PV and hybrid energy systems across a diverse portfolio of commercial and industrial clients.
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