June 18 2025 11:20
South African group Wetility, a solar-as-a-service provider has secured a R500m structured capital partnership with Jaltech, a funder of solar energy projects in SA. The transaction marks a milestone in Wetility’s mission to provide clean, reliable, and cost-effective solar energy to over one million homes and businesses across the country, it said.
The capital provided by Jaltech will be used to fund solar and battery systems, enabling Wetility to add more than 16 MW of solar capacity to the national distributed energy footprint, as well as to avoid over 250,000 metric tons of CO₂ emissions.
“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 R500m funding structure comprised a tailored blend of senior and equity capital, structured to match Wetility’s rapidly scaling operations. Jaltech, known for working in private market investment opportunities in sectors underserved by traditional financiers and generally inaccessible to private investors, identified Wetility as a “high-impact business with strong potential to reshape South Africa’s residential and SME energy landscape”.
“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.
Energy unavailability including load shedding, load reduction and other planned and unplanned utility interruptions remains one of South Africa’s most pressing socio-economic challenges. This makes innovative private partnerships, such as Wetility/Jaltech, crucial to fostering resilience, energy independence, and inclusive growth, the groups said.
Wetility and Jaltech anticipate that this deal will serve as a blueprint for future funding rounds to support a national scale-up strategy, enabling the deployment of solar energy to hundreds of thousands more homes and businesses over the coming year, they said.
alistair@propertyflash.co.za
