News
SolarSaver raises $60 million equity led by Inspired Evolution with FMO and Swedfund
South African commercial solar provider SolarSaver has raised $60 million in equity, led by Inspired Evolution's Evolution III Fund, to scale its solar and battery systems for businesses.
By Propel Africa · 2025-11-12
Disrupt Africa reported on 12 November that South African solar company SolarSaver has raised $60 million in an equity round. The Evolution III Fund of Inspired Evolution led the investment, with Dutch development bank FMO joining as a co-investor and Swedish development finance institution Swedfund also participating.
What the company does
SolarSaver develops, owns and operates small-scale solar and battery systems on its clients' premises. It sells the electricity through power purchase agreements and rent-to-own contracts, so customers do not have to put up any money at the start.
Where it operates
The company works across Southern Africa, with activity in South Africa, Namibia, Botswana and Zambia. It has completed more than 700 installations with a combined capacity of about 140 MW.
What the money is for
The funding will go towards scaling distributed solar and battery systems for small and medium-sized enterprises facing power shortages and high energy costs. Jonas Kolijn, senior investment manager for energy and climate at Swedfund, said dependable and affordable energy is essential for private sector growth, job creation and climate resilience.
At a glance
- Company: SolarSaver
- Raised: $60 million
- Round: Equity
- Lead: Inspired Evolution (Evolution III Fund)
- Other investors: FMO, Swedfund
- Based in: South Africa
- Markets: South Africa, Namibia, Botswana, Zambia
- Key number: More than 700 installations, about 140 MW