Solarise Africa Strengthens Renewable Energy Push in South Africa with $8.9 Million Funding

Solarise Africa, an energy-as-a-service provider for businesses across the continent, has secured a significant R160 million (~$8.9 million) investment from Mergence Investment Managers. This funding is set to accelerate the deployment of commercial and industrial-scale (C&I) renewable energy solutions across South Africa, marking a pivotal moment in the company’s efforts to advance sustainable energy development in the region.

The company emphasized that the introduction of a local debt and mezzanine financing facility will bolster its ability to increase its industry presence and further its impact on the adoption of renewable energy.

Jan Albert Valk, co-founder and CEO of Solarise Africa, noted that while residential solar uptake has seen a decline in 2024 due to reduced load-shedding, the C&I solar market in South Africa remains robust. Businesses are increasingly investing in renewable energy solutions to mitigate grid unreliability, reduce electricity costs, and underscore their commitment to sustainability and climate action.

Source: ITWeb