Mettle Solar, a Photovoltaic (PV) installation company has acquired a 50 per cent stake in Sustainable Power Solutions (SPS) for an undisclosed amount. SPS is a leading engineering and construction firm that specializes in the design, installation and operation of solar photovoltaic (PV) roof- and ground- mounted systems.
Based in Cape Town, Mettle Solar was established in 2014 to take advantage of the growing demand for alternative energy sources, in particular solar energy, in the commercial environment.
In addition to designing, installing, and maintaining solar PV systems, ranging from 100kWp to 3MWp, the company also offers clients various financing options to fund their installations.
The Company has successfully installed and commissioned a 500kWp ground-mounted solar system on the island of St Helena with an aim to reduce the island’s dependence on diesel fuel. SPS has also recently installed more than 4 000 roof-mounted solar panels 1.2 MW solar panels in the V&A Waterfront in Cape Town, making it one of the largest projects of this nature in South Africa.
According to Mettle Solar MD, François van Themaat the good working relationship with SPS aided in the transaction. SPS has been involved in the design and installation of a number of Mettle Solar’s major grid-connected PV contracts.
“We are happy with the new acquisition in one of South Africa’s leading rooftop solar companies. This will allow us to roll out rooftop solar projects more efficiently and at very competitive prices,” he said.
SPS CEO Axel Scholle said the new partnership with Mettle Solar will strengthen their ability to take advantage of the many opportunities in solar power sector especially at a time when conventional generation is becoming more costly.
Axel Scholle has overseen the construction of over 7MWp of roof- and ground mounted projects to date, has greatly welcomed the partnership with Mettle Solar.
With their main areas of operation being South Africa and Namibia, Mettle Solar is currently pursuing other opportunities across Southern Africa.
The company is currently working on five new projects, three in the South Africa and two in Namibia. Four of the five projects are being rolled out in shopping centres.