• Sweden’s development-finance institution, Swedfund, is investing USD 10 million in Solar Saver as part of a USD 60 million equity raise.
• The funding will support Solar Saver’s deployment of distributed solar-and-battery installations in South Africa, Namibia, Botswana, and Zambia under rent-to-own and power-purchase agreements with no upfront cost to the client.
• Solar Saver says it now operates over 700 installations with a combined capacity of about 140 MW across Southern Africa

Sweden’s development finance institution (Swedfund) released on 10 November 2025 that it will invest USD 10 million in Solar Saver. This company develops, owns, and operates small-scale solar and battery systems on business premises and provides electricity via rent-to-own or power-purchase agreements. T

he investment forms part of a larger USD 60 million equity round led by the fund managed by Inspired Evolution (“Evolution III Fund”) alongside the Dutch development bank FMO. By deploying off-grid or near-grid solar-battery installations on the premises of SMEs via rent-to-own and power-purchase contracts, Solar Saver helps firms avoid significant upfront capex and the risks of disruptions from weak public grids. The company currently operates more than 700 installations with a combined capacity of around 140 MW across Southern Africa.

Swedfund also emphasises its role as an active investor: it says it will engage via an Environmental and Social Action Plan (ESAP) to strengthen Solar Saver’s environmental, social, and governance practices. Jonas Kolijn, Senior Investment Manager for Energy & Climate at Swedfund, is quoted in the press release saying: “Access to dependable and affordable energy is essential for private-sector growth, job creation, and climate resilience. Through this investment, we help strengthen energy security and support fossil-free economic growth in one of Africa’s key economic regions.”

According to analyses by groups such as Ember and the Global Solar Council, Africa's installed solar capacity is rapidly growing, with recent data showing installed capacity exceeding 20 GWp and imports for new installations increasing significantly. South Africa, Egypt, and Morocco lead in installed capacity, but growth is diversifying across the continent, with a surge in solar panel imports outside South Africa. Challenges remain, including higher capital costs and the need for more affordable financing to fully unlock the continent's potential. 

By Cynthia Ebot Takang