• Inspired Evolution leads $60M equity round to expand Sedgeley Solar Group
• SSG to grow decentralized solar capacity across Southern Africa’s C&I sector
• Deal supports clean energy push as power demand outpaces grid reliability

South African fund manager Inspired Evolution announced Monday, November 10, that it has led a $60 million equity investment. The deal was carried out through its Evolution III Fund in partnership with development finance institutions (DFIs) FMO and Swedfund. The financing will support the expansion of Sedgeley Solar Group (SSG), a regional platform specializing in decentralized solar power for the commercial and industrial (C&I) sectors.

The equity package includes $30 million from Inspired Evolution, $20.35 million from FMO, and an additional investment from Swedfund. The investment represents an important advance in rolling out decentralized clean energy solutions for the private sector across Southern Africa.

Targeting Power Reliability

SSG, formed from the merger of SolarSaver and Sedgeley, manages more than 700 solar and storage installations with a combined capacity of 140 MW. The company is known for its expertise in engineering, construction, and operations. Already active in South Africa, Namibia, Botswana, and Zambia, SSG plans to use the new funding to expand the capacity of its solar and storage facilities in these markets. The company serves clients affected by load-shedding and rising energy costs, seeking to provide a more reliable and cost-competitive power supply.

According to FMO, the deal aligns with its “100% Green” investment strategy, designed to cut dependence on fossil fuels. Swedfund emphasized that access to stable energy is vital for the competitiveness and climate resilience of local businesses. Both DFIs, already active across the continent, are reinforcing their commitment to clean energy generation.

Launched in 2022, the Evolution III Fund reached its final close in March 2025 at $238 million raised from 19 investors. The fund invests in sustainable energy infrastructure, grid-connected or off-grid solar projects, and technology companies active in energy efficiency. The transaction underscores the growing role of private capital in modernizing Africa’s energy sector, where industrial energy demand continues to outstrip capacity and reliability.

Abdoullah Diop