S'abonner
PROFILE

Mergence invests $3.3mn to support Solarise Africa’s solar growth

Solarise Africa secures $3.3mn in financing from Mergence Investment Managers to accelerate the deployment of solar systems for the commercial and industrial sector in Africa.

Share:

Solarise Africa has secured a new investment of $3.3mn from Mergence Investment Managers. This funding, structured as mezzanine debt through preference shares, will support the implementation of photovoltaic and hybrid solar solutions for commercial and industrial businesses in South Africa. This new injection follows an initial $8.7mn commitment made in 2024, as well as the successful refinancing of Solarise Africa’s senior debts.

Capacity targets and regional expansion

Solarise Africa aims to reach an installed capacity of 28 megawatts peak (MWp) in South Africa by the end of 2025. On a continental scale, the company has set itself the target of exceeding 200 MW installed by 2030. In December 2024, Solarise Africa also launched RUBiSOL, a joint venture with RUBiS Energy Kenya, to provide renewable solutions to industrial clients in East Africa.

Responding to the demand for energy reliability

Mergence’s new investment comes in a context of instability on the South African public electricity grid, prompting many industrial firms to seek more reliable alternatives. The commercial and industrial (C&I) renewables segment is thus benefiting from tailored financing, supporting the security of energy supply for African businesses.

Mosa Molebatsi, Head of Private Debt at Mergence Investment Managers, stated that this new commitment reflects the confidence placed in Solarise Africa’s potential and the solidity of the C&I sector.

Outlook for the African solar market

This funding consolidates Solarise Africa’s growth trajectory, as it aims to reinforce the private sector’s energy autonomy through decentralised solutions. The African market is moving towards diversified and resilient energy infrastructures to meet growing demand, particularly in sectors facing network instability. Solarise Africa intends to continue this momentum to support the continent’s energy transformation.

  • Popular on energynews.pro
New Zealand allows offshore gas and oil exploration again after six-year ban
Nscale, Aker and OpenAI launch Stargate Norway, a 100,000 GPU AI infrastructure project in Norway
Green Hybrid Power launches billion-dollar floating solar project on Lake Kariba
Avangrid and Tyba accelerate battery storage mapping on the US market
ENEC seals new strategic nuclear deals with Hyundai E&C and Westinghouse
Solarcentury launches the first 25 MWp tranche of the Mailo solar plant in Zambia
Solarcentury commissions 25 MWp at Mailo, Zambia, connecting for the first time a merchant solar plant to the Southern African Power Pool and begins construction of the next phase.
First Solar raises annual outlook after new import tariffs
First Solar anticipates higher revenue for the current year, driven by an increase in solar panel prices following the introduction of new import tariffs.
GoldenPeaks Capital connects two major solar power plants to the Hungarian grid in 2025
GoldenPeaks Capital commissions two large-scale photovoltaic plants in Hungary, strengthening the integration of independent solar generation and the electricity supply on the national market.
Emerge signs 20-year solar agreement with Misk City to power an innovative urban model
Emerge has signed a twenty-year contract with Misk City for the supply of solar electricity through a 621 kWp photovoltaic plant, supporting the site’s environmental certification and urban transformation.
SANY launches 10 MW solar project in Zimbabwe with unique EP+F model
SANY begins construction of a 10 MW solar power plant in Zimbabwe, the first African project integrating engineering, procurement and financing, while continuing its expansion in microgrids and hybrid solutions across the continent.
Stem optimises the integration of the 57 MW Camino solar project in California with its automation technology
Stem deploys a grid optimisation solution for the Camino solar site, with a capacity of 57 MW, in California, meeting IEEE 2800 standards and targeting operational reliability and market performance.
Loblaw launches Canada’s largest rooftop solar system for its logistics centre
Loblaw Group will deploy a 7.5 MW photovoltaic installation on the roof of its East Gwillimbury distribution centre, generating up to 25% of the site’s annual electricity and marking a new step for the Canadian logistics sector.
Shell restructures five U.S. solar projects through joint venture with Ares
Savion, a Shell subsidiary, transfers majority ownership of five solar projects to Tango Holdings, 80% owned by Ares, to optimise the U.S. renewable electricity production portfolio and improve the profitability of the oil group’s investments.
KKR commits $335mn with CleanPeak Energy to support solar distribution in Australia
Investment fund KKR is committing $335mn in a strategic partnership with CleanPeak Energy to accelerate the rollout of solar, storage and microgrid solutions aimed at Australian businesses.
Bluebird Solar launches major investment to double its capacity in India
Bluebird Solar is initiating a significant investment plan in Greater Noida to increase its production capacity to 2.5 GW and integrate automated lines powered by artificial intelligence.
TotalEnergies ENEOS completes rooftop solar power plant with TechnipFMC in Malaysia
TotalEnergies ENEOS has commissioned a 680-kilowatt photovoltaic facility at TechnipFMC’s Johor Bahru site, supplying 20% of the factory’s energy needs under an 18-year power purchase agreement.
Voltalia secures two EPC contracts for 92.9 megawatts of solar power in Ireland
Voltalia has been selected for the construction of two photovoltaic plants in Ireland, totalling 92.9 megawatts, further strengthening its presence in the country’s solar infrastructure market.
Renewable energies strengthen their dominance over global electricity costs in 2024
The latest report from the International Renewable Energy Agency confirms the cost superiority of renewables, but highlights persistent challenges for grid integration and access to financing in emerging markets.
EDP Renewables signs 20-year solar contract with California Water Service
EDP Renewables North America and California Water Service have entered into a 20-year agreement to supply solar energy to a strategic Bakersfield site, reducing grid energy costs by about $1.7mn over the contract duration.
Europe’s solar slowdown marks the first decline in a decade
Solar growth in the European Union is seeing its first annual contraction in ten years, following reduced subsidies and shifting budget priorities in several member states.
Scatec wins 846 MW solar project in South Africa for 735 mn USD
Scatec secures the development of a 846 MW photovoltaic cluster in the Free State province, with an investment of ZAR13bn ($735mn), following the seventh round of South Africa's REIPPPP programme.
Enbridge launches 600 MW solar project in Texas to power Meta
Enbridge invests $0.9bn in a 600 MW solar facility in Texas, fully dedicated to powering Meta Platforms, Inc.'s data centres through a long-term power purchase agreement.
ENGIE acquires a portfolio of 22 solar projects totalling 70 MW in Pennsylvania
ENGIE has announced the acquisition of 22 distributed solar projects in Pennsylvania, further strengthening its renewable energy expansion strategy while supporting the local economy and enhancing the reliability of the distribution grid.
Estuary Power launches Escape Solar and secures major additional financing
Estuary Power commissions the Escape Solar and Storage project in Nevada, integrating 185 megawatts of solar capacity and securing enhanced financing from institutional investors to supply electricity to several major players in the leisure sector.
US tariffs and FEOC restrictions threaten solar supply chain and create risks for the industry
New anti-dumping tariffs and Foreign Entity of Concern (FEOC) restrictions are disrupting the US solar supply chain, while ongoing dependence on China exposes the industry to significant risks, according to Wood Mackenzie.