Solarise Africa, an energy-as-a-service provider for businesses across Africa, has announced a funding agreement with Mergence Investment Managers, resulting in a $8.9 million investment.
PSG Capital, an African corporate finance advising business, served as the transaction’s principal advisor and arranger.
The company’s ability to raise its industry profile and accelerate the adoption of renewable energy will be improved by introducing local financing and a mezzanine facility.
Jan Albert Valk, Co-Founder and CEO of Solarise Africa, expressed his enthusiasm for the partnership, stating, “Despite a recent decline in residential solar uptake in 2024, largely due to a reduction in load-shedding, the C&I solar market in South Africa continues to thrive. Businesses continue to invest in renewable energy solutions not only to safeguard against an unreliable grid but also to lower electricity costs and demonstrate a commitment to sustainability and climate action.”
The deal’s strategic significance was discussed by PSG Capital Director Khaya Hlophe-Kunene, who stated, “We are proud to have played a role in facilitating this partnership, which aligns with our focus on supporting innovative energy solutions in South Africa and the rest of the African continent.”
The implementation of commercial and industrial (C&I) scale renewable energy solutions throughout South Africa will be substantially supported by this funding.
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