EVIII SS (Mru) Ltd
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer?
Sedgeley Solar Group (“SSG” or the “Company”) is a solar solutions provider for commercial and industrial (“C&I”) clients in Southern Africa (active under the brand name Solar Saver). SSG develops, installs, and funds embedded solar photovoltaic (“PV”) systems and battery energy storage solutions (“BESS”) on client properties under long term rental/offtake agreements. SSG operates in South Africa, Namibia, Botswana, and Zamibia, with more than 100 MW installed across 700+ sites.
What is our funding objective?
FMO’s equity investment is used to acquire a majority interest in SSG together with a consortium of investors led by Inspired Evolution (via their Evolution III Fund), a specialized clean energy investment fund manager focused on renewable energy infrastructure and impact investing. The financing will further facilitate the rollout of the Company’s business plan through the deployment of new C&I solar PV and BESS installations in Southern Africa.
Why do we fund this investment?
This investment aligns with FMO’s climate ambitions, supporting a sustainable, reliable and low-cost electricity alternative to the main electricity grid in a region experiencing severe energy deficits and low access to grid electricity. The investment will be 100% Green Label based on renewable electricity generation.
What is the Environmental and Social categorization rationale?
E&S risk is considered medium (Category B), based on the average size of installations and majority of installations rooftop-mounted (only a few projects are ground-mounted on properties already owned by the Company’s clients prior to the projects). Key E&S risks relate to IFC PS 1-4, with key considerations including: (i) OHS management; (ii) management of subcontractor’s E&S performance; (iii) assurance of fair, safe, and healthy working conditions in line with PS2 and legal requirements for projects under construction and in operation; (iv) management of supply chain risks; (v) E&S management of few ground-based installations. An E&S Action Plan has been agreed upon and will be monitored by the consortium.
- Website customer/investment
- https://www.solar-saver.net/
- Region
- Africa
- Country
- Africa
- Sector
- Energy
- Publication date
- 7/29/2025
- Effective date
- 7/4/2025
- Total FMO financing
- USD 20.35 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B