SolarAfrica Energy Gains Full Control of ~90MW C&I Portfolio
In a significant strategic move for the African renewable energy sector, SolarAfrica Energy has successfully secured 100% ownership of its subsidiary, Commercial Energy South Africa (CESA). This acquisition gives SolarAfrica full control over a substantial commercial and industrial (C&I) portfolio, comprising approximately 90 MW of solar and battery assets distributed across 134 sites.
The Landmark Transaction for SolarAfrica C&I Portfolio
The consolidation was made possible through a R635 million mezzanine investment. The funding round was led by Vantage Capital, a prominent pan-African mezzanine fund manager, with participation from co-investor Greenpoint Capital.
This crucial injection of capital facilitated the exit of the previous investor, Inspired Evolution, from CESA. The transaction not only streamlines the ownership structure but also empowers SolarAfrica with complete authority over its distributed energy assets, setting the stage for accelerated expansion and future growth initiatives.
A Strengthened Portfolio for a Greener Future with SolarAfrica C&I Portfolio
The ~90 MW portfolio held by CESA is a key component of South Africa’s evolving energy landscape. All assets within this portfolio are managed directly by SolarAfrica, ensuring operational efficiency and consistency. These solar and battery installations provide reliable, sustainable power to a diverse range of commercial and industrial clients, generating predictable cash flows and contributing directly to the country’s energy transition amid ongoing grid reliability challenges.
About SolarAfrica
Founded in 2011 and headquartered in Pretoria, SolarAfrica has established itself as a leading integrated energy solutions provider. The company specializes in a comprehensive suite of services including solar PV systems, battery storage, energy trading, electricity wheeling, and gas-to-power solutions tailored for the C&I market.
SolarAfrica boasts an impressive track record, having delivered approximately 343 MW of projects with an additional 1.14 GW currently under rollout in Southern Africa. The company’s excellence and leadership in the field have been recognized with the prestigious African Solar Company of the Year award in both 2021 and 2023 by the Africa Solar Industry Association.
Roshal Ramdenee, Partner at Vantage Capital, commented on the investment, highlighting its alignment with the firm’s focus on distributed energy infrastructure. He noted that CESA plays a vital role in providing dependable and sustainable power, which is critical for the region’s economic development. This strategic acquisition solidifies SolarAfrica’s position as a dominant force in Africa’s C&I energy sector, poised to make an even greater impact on the continent’s renewable energy journey.
