South African solar-as-a-service company Wetility has raised ZAR500 million (US$27.8 million) through a structured capital partnership with Jaltech, a leading funder of solar energy projects.

The funding will support Wetility’s goal of delivering clean, reliable, and affordable solar power to more than one million homes and businesses across South Africa.

Founded in 2021, Wetility has quickly become the country’s fastest-growing provider of solar and storage solutions.

Its all-in-one solar subscription bundles give homeowners and businesses greater control over their electricity consumption, helping reduce energy costs while promoting sustainability.

Jaltech, an alternative investment fund manager overseeing over ZAR2 billion (US$111 million) in assets across 1,300 retail investments, will use the capital to finance solar and battery installations.

This investment is expected to add over 16 MW of solar capacity to South Africa’s distributed energy network and prevent more than 250,000 metric tons of CO₂ emissions.

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“This funding unlocks the next phase of our growth, empowering thousands of homeowners and SMEs who want more predictability, control, and savings in the face of a volatile energy landscape.

It’s a strong endorsement of our model and mission, and we’re proud to partner with Jaltech, which shares our long-term vision.

Together, we’re driving scalable, inclusive access to clean energy, one roof at a time,” said Dawid Swart, Wetility’s CFO.

The ZAR500 million deal combines senior and equity capital tailored to support Wetility’s rapid expansion.

Jaltech, known for backing ventures in sectors underserved by traditional financiers, identified Wetility as a high-impact business poised to transform South Africa’s residential and SME energy markets.

“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,” said Derrick Hyde, co-founder and partner at Jaltech.

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