In a bold stride toward decentralizing South Africa’s power grid and making clean energy more accessible, solar subscription startup Wetility has secured R500 million (~$27.8 million) in structured financing from investment firm Jaltech. The deal marks one of the most significant moves in the country’s residential solar sector this year—and a signal that investor confidence in green tech is rising.
Wetility, founded just four years ago, is not your traditional energy company. It operates on a model that blends affordability with accessibility—allowing customers to subscribe to solar power solutions much like they would to a mobile data plan. By bundling solar panels, batteries, and system maintenance into one seamless monthly payment, the company removes the biggest barrier to entry in solar adoption: upfront costs.
Now, with half a billion rand in its war chest, Wetility is preparing to scale rapidly. The funding, structured through a combination of senior debt and equity, will be used to install solar and battery systems across thousands of homes and businesses. The expected outcome: over 16 megawatts of new capacity added to South Africa’s distributed energy grid and an estimated 250,000 metric tons of carbon emissions avoided.
But the significance of the deal goes beyond numbers. It reflects a growing appetite among financial institutions to invest in climate-resilient infrastructure, especially in underserved energy markets. Jaltech, a fund manager known for backing unconventional and high-impact ventures, views this partnership as a long-term play in reshaping how South Africans access electricity.
“This isn’t just about clean energy—it’s about giving people control,” said a spokesperson close to the deal. “Energy insecurity has become a daily reality, and solutions like Wetility’s offer households and SMEs a way out of that cycle.”
South Africa, plagued by years of rolling blackouts and rising electricity costs, has seen a surge in demand for alternative energy. Yet, most renewable energy options remain out of reach for average consumers. Wetility’s subscription approach is designed to flip that narrative—targeting not only the affluent but also small businesses and middle-income households looking for stable, sustainable power.
Jaltech’s decision to back Wetility at scale is a reflection of the latter’s traction and potential. With over 1,300 investors and R2 billion in assets under management, Jaltech is increasingly placing its bets on companies offering market-based solutions to systemic challenges.
While the partnership is ambitious, it is not without risks. Solar adoption still faces hurdles ranging from regulatory bottlenecks to fluctuating component costs. Yet both companies believe that the right combination of capital, technology, and trust can unlock a cleaner energy future—one rooftop at a time.
For now, Wetility’s goal is simple: reach one million homes and businesses, and do it sustainably. With its new funding partner onboard, it’s clear that the next phase of South Africa’s energy story won’t just be about supply—it will be about choice.Tools
