South African renewable energy company SolarSaver has successfully raised US$60 million in funding to accelerate its mission of delivering affordable, reliable, and sustainable solar power solutions to small and medium-sized enterprises (SMEs) across Southern Africa. The capital will support the company’s ambitious plans to scale operations in South Africa, Namibia, Botswana, and Zambia, addressing energy insecurity and high electricity costs for businesses in the region.
SolarSaver specializes in developing, owning, and operating small-scale solar and battery systems that provide businesses with a consistent and independent source of electricity. Unlike traditional models that require large upfront investments, SolarSaver installs and manages the systems on client premises and sells electricity through flexible power purchase agreements (PPAs) or rent-to-own contracts, enabling SMEs to access clean energy without initial capital outlays.
The company currently operates over 700 solar installations with a combined generation capacity of approximately 140 MW across Southern Africa. These systems have allowed businesses to maintain stable operations despite frequent grid outages and rising electricity tariffs, while simultaneously reducing reliance on fossil fuels. The latest funding round is expected to accelerate the deployment of these distributed solar and battery systems, significantly enhancing energy security and sustainability for the private sector in the region.
The US$60 million equity investment round was led by Inspired Evolution’s Evolution III Fund, with participation from the Dutch development bank FMO and Swedfund, the Swedish development finance institution. The involvement of these prominent investors underscores the growing international confidence in SolarSaver’s business model and its potential to drive a green energy transition across Southern Africa.
“Reliable and affordable access to electricity is a cornerstone for private sector development, job creation, and climate resilience,” said Jonas Kolijn, Senior Investment Manager for Energy and Climate at Swedfund. “By supporting SolarSaver, we are helping to strengthen energy security, accelerate the adoption of fossil-free technologies, and foster sustainable economic growth in one of Africa’s most important economic regions.”
With this new capital injection, SolarSaver is poised to expand its footprint, bringing clean, dependable, and cost-effective energy solutions to more SMEs and reinforcing Southern Africa’s transition toward a low-carbon and resilient energy future.
