SolarAfrica Consolidates C&I Solar Portfolio In USD 39 M Mezzanine Deal

SolarAfrica has completed a ZAR 635 M (USD 39 M) mezzanine-backed secondary transaction to take full ownership of Commercial Energy South Africa (CESA), consolidating control of 90MW in commercial and industrial (C&I) solar and battery assets across 134 sites.

The deal enables impact investor Inspired Evolution to exit, with financing arranged by Vantage Capital alongside Greenpoint Capital.

Founded in 2011, SolarAfrica develops solar PV, battery storage, wheeling, and energy trading solutions. Full ownership of CESA strengthens its contracted, cash-generating base as it pivots toward grid-wheeled utility-scale projects, including the 114MW SunCentral 2 plant in the Northern Cape.