Sola
SOLA Group is a South African vertically integrated Independent Power Producer that develops, owns, and operates utility-scale solar PV and battery storage assets, delivering renewable electricity to large enterprise and industrial customers via Power Purchase Agreements and energy wheeling through the national grid.
- Company typePrivate
- Founded2008
- HeadquartersCape Town, South Africa
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Sola does
SOLA Group is a 100% South African owned, vertically integrated Independent Power Producer (IPP) founded in 2008 and headquartered in Cape Town. The company develops, finances, engineers, constructs, owns, and operates utility-scale solar PV generation and battery energy storage systems (BESS), delivering renewable electricity to large enterprise and industrial customers primarily through energy wheeling across South Africa's national grid. Its operational portfolio stands at 535MW, with nearly 3GW of solar assets built cumulatively and operations spanning South Africa's nine provinces plus Namibia, Mozambique, and the Seychelles.
SOLA's core products center on Power Purchase Agreements (PPAs) — offered as long-term (15-20 year) and short-term rolling (2-5 year) structures — combined with traditional energy wheeling, virtual wheeling (launched in 2025 for municipal-grid-connected buyers), behind-the-meter installations, and BESS solutions. The company pioneered large-scale wheeling in South Africa through the 10MW Adams solar project for Amazon in 2020, and now operates over 460MW of wheeling capacity across facilities including the 260MW Tronox cluster and 195MW Project Springbok (Africa's first multi-buyer flexible wheeling facility, commissioned September 2025). Notable technology assets include the M5 microgrid system with zero-millisecond transfer capability (developed with LONGi), achieving up to 80% diesel reduction in weak-grid environments.
The business model is asset-heavy and project-financed: SOLA raises capital (approximately R20 billion / ~$1.1 billion cumulative to date) to build solar plants, then generates recurring revenue through long-dated PPAs with credit-quality offtakers such as Tronox, Amazon, South African Breweries, Vodacom, Sibanye-Stillwater, African Rainbow Minerals, AB InBev, Heineken, and Pepsico. Pricing is quote-based and not publicly disclosed, though customers reportedly achieve up to 50% cost reduction versus Eskom grid tariffs. Go-to-market is enterprise field sales targeting >5MW consumers, supplemented by thought-leadership webinars and participation in industry events such as the Africa Energy Forum.
Sola firmographics
Firmographics- Name
- Sola
- Legal name
- SOLA Group
- Website
- https://solagroup.co.za
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- SOLA Group is a South African vertically integrated Independent Power Producer that develops, owns, and operates utility-scale solar PV and battery storage assets, delivering renewable electricity to large enterprise and industrial customers via Power Purchase Agreements and energy wheeling through the national grid.
- Ownership category
- akta.pro rank
Sola industry classification
Industry- Product category
- Independent Power Production (Renewable Energy)
- NAICS
- Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112)
- SIC
- Cogeneration Services & Small Power Producers (4991), Electric Services (4911), Electric, Gas & Sanitary Services (4900)
- akta.pro primary industry
- Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)
- akta.pro secondary industries
- Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE), PPA Origination, Structuring & Offtake Contracting (Physical/Financial, Sleeves) (EUAMAMAD), C&I PPAs & Virtual PPAs (VPPA) Origination & Management (EUAGACAF)
Keywords
Where Sola is headquartered
LocationHeadquarters
- HQ city
- Cape Town
- HQ country
- South Africa
- HQ region
- Africa
Offices2 records
Markets served
Sola business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Power Purchase Agreements (PPAs): Long-term Power Purchase Agreements (typically 15-20 years) where SOLA generates and delivers renewable electricity to buyers. Buyers pay only for energy delivered with no upfront capital or operational costs. SOLA also offers shorter 2-5 year rolling PPAs for flexibility.
- Energy Wheeling Charges: Revenue from wheeling renewable energy across the national grid to buyers. Both generator and buyer pay connection fees to Eskom for wheeling transactions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Long-term PPAs (15-20 years) with maximum savings and low escalation rates |
| Subscription | Multi-year contract | Short-term Rolling PPAs (2-5 years) from Project Springbok |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Sola product offering
Product offeringCore offering
SOLA Group is a 100% South African, vertically integrated Independent Power Producer (IPP) that develops, finances, builds, owns, and operates solar PV generation assets and Battery Energy Storage Systems (BESS). The company delivers renewable electricity to corporate and industrial clients through Power Purchase Agreements (PPAs), transmitting energy via three delivery models: utility-scale wheeling through Eskom's national grid, virtual wheeling for municipal-connected businesses, and behind-the-meter on-site installations.
Product overview
SOLA Group is a vertically integrated Independent Power Producer (IPP) offering a portfolio of renewable energy products and services centered on solar generation and energy storage. The core offering consists of Power Purchase Agreements (PPAs) combined with energy wheeling services that deliver solar electricity through the national grid to remote buyers. Key product modules include Virtual Wheeling for municipal-connected businesses, Battery Energy Storage Systems (BESS) for 24/7 power supply, and Behind-the-Meter solutions for on-site generation. The company operates several flagship projects including Project Springbok (Africa's first multi-buyer wheeling facility at 195MW), the Selemela Solar Park (256MWp combined capacity), the Adams Solar Project (first large-scale wheeling project at 10-12MW), and Naos-1 (private solar and battery hybrid). SOLA delivers solutions across three contract models: utility wheeling, virtual wheeling, and behind-the-meter installations, all structured through flexible PPA terms ranging from 2-5 years to 15-20 years.
Differentiator
Problem solved
Functional benefit
Products and services
- Power Purchase Agreements (PPAs) Long-term and short-term Power Purchase Agreements under which SOLA finances, builds, owns and operates solar PV and BESS assets and delivers renewable electricity to enterprise and industrial buyers, with buyers paying only for energy delivered. PPAs are structured for either low-escalation long-term cost savings or short-term flexibility for unpredictable demand.
- Energy Wheeling Services Utility-scale energy wheeling service transmitting renewable electricity generated at remote solar facilities through Eskom's national grid to end-users, allowing buyers to access clean energy without on-site generation. SOLA pioneered this model in South Africa.
- Virtual Wheeling Virtual wheeling service enabling businesses connected to municipal electricity networks (rather than Eskom's grid) to access renewable energy credits from remote SOLA generation sites, with Eskom processing monthly refunds based on consumption. First agreement signed with Vodacom in 2025.
- Behind-the-Meter (BTM) Solar Solutions On-site or near-site solar generation installed and operated by SOLA at the buyer's premises under a PPA, designed for facilities with suitable land seeking direct energy supply, load shedding protection, and localisation benefits.
- Battery Energy Storage Systems (BESS) Battery Energy Storage Systems deployed alongside SOLA's solar assets to store excess solar generation and dispatch it during evening hours or peak demand, enabling near-24/7 renewable supply, grid stability, and load shedding protection. Delivered to clients such as Pepsico.
Quantifiable outcome
- Up to 50% cost reduction compared to grid electricity tariffs
- +4 more outcomes
Companies that use Sola
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles3 records
Sola technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Sola partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and major.
- LONGicoreLONGi and SOLA signed a 300MW solar-storage agreement at the Africa Energy Forum 2026 in Cape Town. The deal combines large-scale solar generation with battery energy storage to improve grid stability and energy reliability across Africa. LONGi showcased its M5 microgrid system designed for weak-grid and off-grid environments.
- WBHOmajorWBHO (Wilson Bayly Holmes-Ovcon) completed construction of two solar plants in Lichtenburg, representing impactful community initiatives alongside SOLA's renewable energy projects.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Sola competitors and assessment
Company assessmentDirect peers
- Lekela Power: Lekela Power is an Africa-focused renewable energy platform operating utility-scale wind and solar projects across Egypt, South Africa, Senegal, and Ghana. It is a comparable IPP active in the same regional corporate PPA and tender-driven markets as SOLA.
- Cennergi: Cennergi is a South African joint-venture IPP developing and operating utility-scale wind and solar projects supplying both Eskom and private offtakers. It is a domestic peer competing for corporate PPA volumes and wheeling opportunities.
- Mainstream Renewable Power: Mainstream is a global renewable energy company with deep African operations, developing and operating utility-scale wind and solar plants under long-term PPAs. Like SOLA, it pursues both utility procurement and corporate offtake opportunities across the continent.
- Globeleq: Globeleq is a UK-based IPP focused on developing, building, and operating power projects across Africa, including renewable energy generation supplying both utilities and private offtakers. It competes with SOLA for African renewable IPP mandates and corporate PPAs.
- Mulilo Renewable Energy: Mulilo is a South African renewable IPP developing utility-scale solar PV, wind, and battery storage projects with both public procurement and private C&I offtakers. It directly competes with SOLA in the South African corporate PPA and wheeling space.
- BioTherm Energy: BioTherm Energy is a South African independent renewable energy producer focused on utility-scale wind and solar generation with PPAs to private and public offtakers. It is one of SOLA's most direct domestic competitors in South Africa's private renewable PPA market.
- Scatec: Scatec is a Norway-based renewable IPP with significant operations across sub-Saharan Africa, developing, owning, and operating utility-scale solar and wind projects under long-term PPAs with commercial and industrial buyers. Like SOLA, it offers fully financed renewable solutions to enterprises and is active in South Africa's private renewable market.
Broad incumbents
- Engie Africa: Engie is a global energy major with substantial renewable IPP operations across Africa, including solar, wind, and battery storage, supplying utilities and large industrials. It competes with SOLA for large-scale African renewable mandates and corporate PPAs.
- Enel Green Power: Enel Green Power is one of the world's largest renewable IPPs with operations across Africa, including utility-scale solar and wind projects. It is a broad incumbent competitor in the African utility-scale and corporate renewable PPA market.
- EDF Renewables: EDF Renewables is a global renewable IPP with utility-scale solar and storage projects across multiple continents, including South Africa. It is a broad incumbent competing for the same African corporate renewable offtake opportunities as SOLA.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Sola social profiles
Digital presenceSola financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sola leadership team
Management profileNumber of profiles
Profiles5 records
Sola funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sola M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sola
What does Sola do?
SOLA Group is a 100% South African, vertically integrated Independent Power Producer (IPP) that develops, finances, builds, owns, and operates solar PV generation assets and Battery Energy Storage Systems (BESS). The company delivers renewable electricity to corporate and industrial clients through Power Purchase Agreements (PPAs), transmitting energy via three delivery models: utility-scale wheeling through Eskom's national grid, virtual wheeling for municipal-connected businesses, and behind-the-meter on-site installations.
Is Sola a public or private company?
Sola is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Sola founded?
Sola was founded in 2008. It employs 101 to 250 people.
Where is Sola based?
Sola is headquartered in Cape Town, South Africa, in the Africa region.
How does Sola make money?
Two revenue lines are on record. Power Purchase Agreements (PPAs) is the primary driver. The others are energy Wheeling Charges.
Who are Sola's main competitors?
Direct peers on record are Lekela Power, Cennergi, Mainstream Renewable Power, Globeleq, Mulilo Renewable Energy, BioTherm Energy and Scatec. Broad incumbents are Engie Africa, Enel Green Power and EDF Renewables.
Does Sola have an API?
No public API is recorded for Sola.
What industry is Sola in?
Sola's product category is Independent Power Production (Renewable Energy). Its primary akta.pro industry code is EUAMABAA, Solar Project Development & IPP (Utility-Scale & Rooftop), with a secondary code of EUAMAAAE, Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy). Its NAICS code is 22111 and its SIC code is 4991.