Wetility, Jaltech Sign $30M Solar Deal

Key Figures & Findings: Wetility, a South African solar energy provider, has signed a $30 million (R500 million) funding agreement with Jaltech, an investment firm focused on high-impact sectors, to accelerate the rollout of residential and SME-focused solar-plus-battery systems. The funding will finance the deployment of over 16 MW of distributed solar capacity across South Africa, targeting grid-resilient installations for households and small businesses. The deal combines senior and equity capital tailored to Wetility’s platform-as-a-service model, which integrates financing, equipment, and energy management software into a unified product offering. Jaltech, which has supported Wetility’s growth in earlier phases, is positioning this commitment as a scalable model for broader private-sector participation in South Africa’s decentralised energy landscape.

Statistics & Insights: The installations are projected to avoid over 250,000 metric tons of CO₂ over their lifetime and contribute to Wetility’s ambition to serve 1 million customers. The current tranche adds 16 MW of new capacity, supporting energy stability amid persistent national load shedding.

Future Implications: If rollout is completed by Q4 2026, Wetility could initiate a follow-on round that would expand installed capacity to 32 MW and extend services to neighbouring SADC markets by 2028. The model may also strengthen policy calls for tax-based incentives on battery storage in South Africa’s next Integrated Resource Plan, due in 2027.

Source: Wetility newsroom