News flash
- Mezzanine financing of $35 million (ZAR 635 million) enables SolarAfrica Energy to acquire full ownership of Commercial Energy South Africa.
- CESA portfolio spans 90 MW of contracted rooftop solar and battery projects across 134 commercial and industrial sites.
- Transaction highlights growing role of private debt in scaling South Africa’s renewable energy sector.
Vantage Capital and Greenpoint Capital have provided $35 million (ZAR 635 million) in mezzanine financing to Commercial Energy South Africa, a solar and battery asset platform owned by SolarAfrica Energy. The funding allowed SolarAfrica to acquire the equity stake previously held by Inspired Evolution, giving SolarAfrica 100% ownership of CESA.
CESA serves as a holding company for distributed renewable energy assets, including rooftop solar and battery storage systems that cater to commercial and industrial clients across South Africa. The platform currently operates approximately 90 MW of contracted capacity across 134 installations.
The transaction represents the twentieth disposal across Inspired Evolution’s funds and underscores the increasing use of private debt financing to accelerate renewable energy growth in South Africa.
Author: Bryan Groenendaal
