South Africa-based Mergence Investment Managers has deepened its commitment to clean energy by announcing a follow-on investment of R60 million (approximately $3.4 million) in Solarise Africa, a pan-African energy solutions provider. This latest funding round is structured as a mezzanine facility through preference shares, and will be used to accelerate the deployment of commercial and industrial (C&I) renewable energy projects across South Africa.
This new investment builds on a previous R160 million (around $9 million) deal concluded in late 2024, signaling strong and sustained investor confidence in Solarise Africa’s business model and growth trajectory.
Solarise Africa specializes in providing tailored solar PV and hybrid energy systems to commercial and industrial clients across the continent. The company’s innovative financing and deployment model enables businesses to transition to clean energy without the burden of upfront capital costs.
Sakkie van Wijk, Co-founder and Chief Operating Officer of Solarise Africa, expressed gratitude for the continued backing:
We are honoured by the continued support from Mergence. This follow-on investment speaks volumes about their confidence in our strategy, performance, and future prospects. With this funding, we will be able to extend our reach and accelerate the implementation of high-impact energy projects for businesses across South Africa.
Mosa Molebatsi, Head of Private Debt at Mergence Investment Managers, emphasized the strategic importance of the investment:
Our additional investment in Solarise Africa reflects our belief in the resilience of the C&I renewable energy sector and in Solarise Africa’s ability to deliver on its promise. We are proud to back a platform that is enabling cleaner, more reliable energy for businesses, while contributing to South Africa’s climate and economic goals.
The newly secured capital will support the rollout of additional solar photovoltaic (PV) and hybrid energy systems across a diverse portfolio of commercial and industrial clients. These systems are expected to reduce energy costs, improve energy reliability, and contribute to South Africa’s broader transition to a low-carbon economy.
This investment not only strengthens Solarise Africa’s operational capacity but also reinforces the growing role of private capital in driving Africa’s energy transition.
