South African renewable energy company SolarSaver has raised US $60 million in equity funding to scale its portfolio of decentralised solar and battery energy systems for small and medium-sized enterprises (SMEs) across Southern Africa, industry sources reported.
The funding round was led by Inspired Evolution’s Evolution III Fund, with participation from development finance institutions including FMO Investment Management and Swedfund International, according to multiple regional media outlets.
SolarSaver, which develops, owns and operates distributed solar and battery installations, said the fresh capital will accelerate the deployment of reliable, affordable clean energy solutions for SMEs across South Africa, Namibia, Botswana and Zambia. The company’s model typically removes upfront capital costs for clients by offering long-term power purchase agreements and rent-to-own contracts, aiming to mitigate the impact of grid unreliability and high electricity tariffs on commercial operations.
The business already manages more than 700 installations with a combined generating capacity of roughly 140 MW, a footprint that underscores its growing role in the region’s decentralised energy landscape.
Investors said the injection of growth capital reflects strong confidence in SolarSaver’s model and in the broader prospects for climate-aligned infrastructure investment across Africa. The funding is expected to bolster the company’s ability to serve more clients and expand its clean power footprint at a time when energy security remains a pressing challenge for many SMEs in Southern Africa.
Swedfund described its involvement as aligned with climate resilience and economic inclusion goals, noting that improved access to dependable, low-cost energy can support private-sector growth and sustainable development in the region.
The financing comes amid a broader uptick in clean-energy investment across the continent, as public and private capital flows target solar, storage and decentralised generation solutions to address persistent power shortages and enhance economic competitiveness.
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