Sedgeley Solar Group Raises $60 Million to Scale Decentralized C&I Solar
South African fund manager Inspired Evolution has led a USD 60 million equity investment in Sedgeley Solar Group (SSG) alongside FMO and Swedfund, to scale decentralized solar and storage solutions across Southern Africa.
South African fund manager Inspired Evolution is strengthening its commitment to Africa’s energy transition with a USD 60 million equity investment in Sedgeley Solar Group (SSG), a leading regional platform for decentralized solar serving commercial and industrial clients. The transaction, announced on November 10, was led via the manager’s Evolution III Fund alongside FMO (Netherlands) and Swedfund (Sweden).
Structured as an equity round, the investment includes USD 30 million from Inspired Evolution, USD 20.35 million from FMO, and an additional contribution from Swedfund. The capital will enable SSG to accelerate its regional expansion across South Africa, Namibia, Botswana, and Zambia, by increasing its solar and storage capacity. Formed through the merger of SolarSaver and Sedgeley, the company operates a portfolio of over 700 solar and storage installations totaling 140 MW, and benefits from in-house engineering, construction, and operations expertise.
“Reliable, affordable clean power is becoming a competitive necessity for African businesses,” said Christopher Clarke, Managing Partner at Inspired Evolution. “Through Sedgeley, we’re scaling a proven model that enables commercial and industrial clients to secure energy independence, lower emissions, and stabilize operations.”
The raise aims to meet the growing demand for reliable and affordable power from commercial and industrial (C&I) clients affected by load-shedding and rising energy costs. The additional capacity will help businesses secure a stable and cleaner energy supply while supporting their decarbonization objectives.
Dimension | Deal details |
|---|---|
Company | Sedgeley Solar Group (SSG) |
Total Capital Raised | $60 million |
Lead Investor | Inspired Evolution (Evolution III Fund) |
Co-Investors | FMO (USD 20.35m), Swedfund |
Structure | Equity financing |
Existing Portfolio | 700+ projects (140 MW solar + storage) |
Geographic Presence | South Africa, Namibia, Botswana, Zambia |
Use of Funds | Expansion of solar & battery projects for C&I clients |
Impact Areas | Energy security, industrial competitiveness, carbon reduction |
Fund Focus (Evolution III) | Sustainable energy infrastructure & off-grid systems |
For FMO, the investment aligns with its “100% green” strategy, focused on reducing fossil fuel dependency. Swedfund emphasized that access to reliable, clean energy is critical for the competitiveness and climate resilience of local enterprises.
Evolution III, closed at USD 238 million, continues its deployment
Launched in 2022, Evolution III achieved its final close in March 2025 at USD 238 million, backed by 19 institutional investors. The third fund targets sustainable energy infrastructure across sub-Saharan Africa — including on-grid and off-grid solar, energy storage, efficiency, and climate tech ventures.
With this investment in Sedgeley Solar Group, Evolution III completes one of its first major deals in Southern Africa, underscoring the growing role of private capital in modernizing the continent’s energy systems — where industrial energy needs continue to outpace available and reliable capacity.
