SPS works with companies to fund, develop and operate solar power technologies, including battery storage, that provide consistent, affordable clean energy. SPS focuses on the design, installation, financing and maintenance of grid connected, hybrid (solar/genset) and off-grid (battery storage) solar energy solutions.
Lack of reliable grid power has led to more than half of businesses in sub-Saharan Africa using diesel generation to ensure certainty of supply. Solar power and battery storage solutions are increasingly providing a viable, cheaper alternative for many businesses that see the value in using greener, more consistent power. SPS is a leader in the sector and well-positioned to accelerate the use of solar energy
Formerly known as Mettle Solar, SPS has received around US$37 million of equity funding investment from Gridworks following our first investment in December 2019. Since then, the company has built over 22MW of grid-tied projects in Southern Africa and Kenya and 4.2MW / 8.7MWh of islanded projects in the Seychelles, including some of Africa’s largest off-grid systems using Tesla’s Powerpack.
In 2021, Gridworks brought in New GX Capital, the South African investment firm, as an investment partner for SPS. The long-term funding provided by Gridworks and New GX will enable the company to deepen its presence in existing markets and expand across sub-Saharan Africa. The company is targeting building an additional 100MW of projects.