JOHANNESBURG, South Africa – Solar energy provider Wetility has secured a landmark investment of ZAR 500 million (approximately USD 28.1 million / EUR 24.2 million) from alternative investment fund manager Jaltech, to scale its national rollout of solar and battery storage systems.
Announced in a joint statement, the structured capital facility—comprising both senior and equity financing—will enable Wetility to deploy over 16 MW of new solar capacity. The expansion is expected to eliminate more than 250,000 metric tonnes of CO₂ emissions, significantly contributing to South Africa’s distributed energy landscape.
Powering Homes and SMEs
“This funding unlocks the next phase of our growth,” said Dawid Swart, Chief Financial Officer at Wetility. “It will empower thousands of homeowners and SMEs who are seeking greater control, savings, and energy independence amid an increasingly volatile electricity environment.”
Wetility operates on a solar-as-a-service model, offering fully integrated subscription packages for households and businesses. The company aims to reach over one million customers nationwide with accessible, clean, and cost-effective solar energy.
A Strategic Partnership for Scale
Jaltech, a Johannesburg-based firm specializing in solar investments, manages more than ZAR 2 billion in assets and has financed over 250 solar installations to date.
“While we’ve previously supported Wetility in its early growth stages, this investment marks a significant deepening of our commitment,” said Derrick Hyde, co-founder and partner at Jaltech. “We believe in Wetility’s mission to bring reliable, affordable energy to thousands of homes across South Africa.”
Accelerating the Clean Energy Transition
This investment positions both companies at the forefront of South Africa’s clean energy transition, at a time when the national grid continues to face reliability challenges. By delivering scalable solar and battery solutions, Wetility and Jaltech are playing a vital role in reshaping the country’s energy future—one home, one business at a time.
