Photovoltaic (PV) installation company Mettle Solar has acquired a 50% stake in engineering and construction firm Sustainable Power Solutions (SPS) for an undisclosed amount.
SPS was involved in the installation of more than 4 000 roof-mounted 1.2 MW solar panels at the V&A Waterfront in Cape Town.
The company also installed and commissioned a 500 kW ground-mounted solar system on the island of St Helena, to reduce the island’s dependence on diesel fuel.
Mettle Solar MD François van Themaat said the transaction was the outcome of a close working relationship with SPS, which had undertaken the design and installation of a number of Mettle Solar’s major grid-connected PV contracts.
“This closer relationship with SPS will allow Mettle Solar to roll out rooftop solar projects more efficiently and at very competitive prices,” he said.
“Having a company such as Mettle Solar on board will strengthen our ability to harness the many opportunities in the area of solar power generation at a time when conventional generation is becoming increasingly costlier,” said SPS CEO Axel Scholle.
Scholle expected solar energy to alter the electricity generation and distribution industry across the continent in the next decade.
Mettle Solar was currently engaged in five new projects, three in South Africa and two in Namibia. Four of the projects were being rolled out at shopping centres.