Wetility, a Cape Town–based solar-as-a-service company, has secured ZAR 500 million (approximately US $27.8 million) in structured financing from Jaltech, a prominent clean energy and solar investment funder. The deal combines senior and equity capital, representing Jaltech’s strongest commitment to the startup to date.
Founded in 2021, Wetility delivers integrated solar and battery solutions via its subscription model targeting households and small to medium-sized enterprises across South Africa.
The fresh capital will fund the deployment of over 16 MW of solar capacity, enabling expansion to more than one million homes and businesses whilst avoiding over 250,000 metric tons of CO₂ emissions.
“This funding unlocks the next phase of our growth, empowering thousands of homeowners and SMEs seeking predictable, affordable clean power,” said CFO Dawid Swart. “Our partnership with Jaltech is a strong endorsement of our business model and mission”.
Derrick Hyde, Jaltech co-founder and partner, affirmed the investor’s support:
“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”.
Wetility leverages its subscription offering to reduce upfront costs and provide maintenance, insurance, and real-time monitoring—all wrapped in a monthly fee. It aims to serve mid-income residential customers and SMEs that are heavily dependent on grid power but need stability and affordability.
The funding will catalyze national scale-up, positioning Wetility to significantly expand its footprint during a time when load-shedding and energy instability remain acute issues in South Africa.
South Africa’s electricity sector is under pressure: aging coal plants and frequent outages have prompted private energy adoption on an unprecedented scale. Distributed solar now plays a pivotal role in mitigating load-shedding and stabilizing energy access across communities .
Wetility’s model—blending fintech-like flexibility with solar technology—offers a timely solution to South Africa’s electricity shortfalls and carbon emissions challenge .
With its latest capital injection, Wetility is poised to dramatically increase solar accessibility for underserved residential and small business segments. Its subscription-based, all‑inclusive model offers a compelling path toward energy independence—especially essential in regions riddled by grid unreliability and high utility costs.
As South Africa transitions toward decentralized power sources, startups like Wetility exemplify a scalable and socially impactful approach to ensuring energy security and climate resilience.
About Wetility: A South African solar startup founded in 2021, offering integrated solar and battery subscription services that provide clean, reliable energy to homes and small businesses without the upfront costs.
About Jaltech: An alternative investment manager focused on solar infrastructure and clean energy impact financing with a portfolio spanning commercial and residential solar deployments across South Africa.
Let me know if you’d like more context on Wetility’s impact metrics, regulatory environment, or comparisons with other energy startups in the region.
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