Wetility has secured a R500-million structured capital partnership with Jaltech to fund solar and battery systems.
This will enable Wetility to add over 16 MW of solar capacity to the national distributed energy footprint, as well as avoid over 250 000 metric tons of CO₂ emissions.
“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,” says Dawid Swart, chief financial officer of Wetility.
“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.”
The R500-million funding structure comprises a tailored blend of senior and equity capital, structured to match Wetility’s rapidly scaling operations.
“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,” says Derrick Hyde, co-founder and partner at Jaltech.
Wetility and Jaltech anticipate that this deal will serve as a blueprint for future funding rounds to support a national scale-up strategy, enabling the deployment of solar energy to hundreds of thousands more homes and businesses over the coming year.