Solarise Africa Secures Additional USD 3.4 Million in New Funding

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Powering Africa’s Future: Mergence Boosts Solarise Africa with R 60M Investment

Mergence Investment Managers, a South Africa-based firm, has announced an additional investment of R 60 million (approximately USD 3.4 million) in Solarise Africa, a renewable energy financing firm.

This latest funding, structured as a mezzanine facility through preference shares, underscores Mergence‘s continued confidence in Solarise Africa’s mission to revolutionise the commercial and industrial (C&I) renewable energy sector across the continent, particularly in South Africa.

This recent injection of capital builds on a R 160 million (about USD 9 million) investment closed late last year by Mergence.

Solarise Africa provides decentralised energy solutions for SMEs in Africa, via tailor-made financing or rental solutions for captive solar installations (typically rooftop and ground-mounted PV systems ranging from 50kW to 3MW). This includes designing, building, and maintaining these installations. They have also expanded into Kenya, South Africa, Rwanda, Uganda, and Zambia.

The new funds have been earmarked to accelerate the deployment of advanced solar PV and hybrid energy systems for Solarise Africa’s clients in South Africa.

“We are honoured by the continued support from Mergence,” Sakkie van Wijk, co-founder and COO of Solarise Africa, said. “This follow-on investment speaks volumes about their confidence in our strategy, performance, and future prospects.”

Mosa Molebatsi, Head of Private Debt at Mergence Investment Managers, added, “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.”

Solarise Africa was founded in 2017 by Jan-Albert Valk, Patrik Huber and Sakkie Van Wijk, and has since expanded into key African markets, with clients in Kenya, South Africa, Rwanda, Uganda, and Zambia.

Beyond the substantial commitment from Mergence Investment Managers, Solarise Africa has also attracted investment from other funders including ElectriFI, E3 Capital (formerly Energy Access Ventures – EAV), Proparco, Oikocredit, TRINE, and Aster.