African Rainbow Capital (ARC), an investment holding company, has secured a minority stake in GoSolr, a residential solar energy company operating in South Africa. Established in 2021, GoSolr has rapidly expanded its solar installations from Cape Town to other major metropolitan areas in 2022. The company aims to make solar energy more accessible to households through a solar-as-a-service model with fixed monthly fees.
The strategic partnership with ARC will enable GoSolr to accelerate its operational goals and meet the increasing demand for affordable and high-quality solar solutions. GoSolr’s CEO, Andrew Middleton, has expressed excitement about the collaboration and highlighted the value of ARC’s strong financial position and extensive corporate network in supporting GoSolr’s ambitious growth plans.
For ARC, this acquisition aligns with their strategic objectives, as it will bring significant value to their investment portfolio and extend benefits beyond their current clients. The partnership between ARC and GoSolr also reinforces their commitment to environmental responsibility by promoting sustainable energy sources, reducing greenhouse gas emissions, and facilitating the transition away from fossil fuels.
With this investment, GoSolr is poised to continue driving positive change in the South African energy sector and build upon its track record of success. The company’s solar-as-a-service model has the potential to accelerate the adoption of solar solutions among households, contributing to a greener and more sustainable future for the country.
As the demand for renewable energy continues to rise, partnerships like the one between ARC and GoSolr play a crucial role in advancing the development and accessibility of solar energy in South Africa.