Maia Capital Partners (“www.MaiaCapital.co.za”) announced that they have provided R150 million mezzanine debt funding to the Nesa Power group (“Nesa”) a South African commercial and industrial (“C&I”) renewable energy group delivering integrated solar, storage and energy solutions under long-term Power Purchase Agreements (“PPAs”).
The mezzanine debt funding will be used by Nesa as growth capital to fund the acquisition of solar photovoltaic (“Solar PV”) sites and expand its PPA portfolio. Nesa is committed to providing renewable energy solutions that drive savings, ensure uninterrupted operations, and reduce businesses’ carbon footprints by offering tailored renewable solutions, including on-site and off-site generation and storage.
Since its inception, Nesa and its founders have built over 46 megawatt-peak (“MWp”) of Solar PV generation capacity and 6.5 megawatt-hours (“MWh”) of battery storage and has raised over R400 million in capital in managed funds that have invested in and currently operate over 70 Solar PV C&I assets on a PPA basis.
The Nesa Power Group has built and operated C&I renewable energy assets through strategic investment partnerships and managed funds for more than a decade and has now evolved into an integrated renewable services group providing the C&I market with turnkey renewable energy services. Through its group companies, Nesa offers the market greenfield development, in-house design, engineering, procurement and construction management (“EPCM”), PPA funding, ownership and maintenance (“O&M”) services as well as carbon credit development services where the group has one of the 1st solar based VERRA carbon grouped projects in South Africa.
Tshandu Ramusetheli, CEO of Maia Capital, said: “We are excited to partner with Nesa on this transaction and to support their growth as they continue to build out their renewable energy platform. This investment sits at the heart of what we set out to achieve when we established our impact fund — deploying private capital to address real societal challenges. Providing clean, affordable energy to South African businesses is one of our key impact and investment objectives, and it directly supports the government’s ambition to strengthen the country’s energy security through expanded private sector generation. This partnership exemplifies our belief that impactful investments can drive both economic growth and social progress”.
Percy Ying, Co-Founder of Nesa Power and Group Chief Investment Officer, commented: “We are thrilled to welcome Maia Capital as a long term partner and are grateful for their confidence in Nesa’s vision and capabilities. This investment materially strengthens our ability to execute on the Group’s growth strategy — accelerating the growth of our PPA portfolio which will underpin our business going forward. The investment will also facilitate meaningful job creation and contribute positively to the broader South African economy — an outcome we are deeply committed to. We extend our gratitude to Maia Capital, our clients and stakeholders, as well as our valued management team for their unwavering belief in Nesa’s potential.”
Mike Bleyenheuft, Co-Founder and CEO of Nesa Power, added: “Securing this mezzanine facility from Maia Capital is a significant milestone for the Group and reflects the strength of the business we have built. The partnership with Maia Capital will ensure that Nesa continues to deliver innovative, high-quality renewable energy solutions to the C&I market. The energy transition in South Africa is accelerating, and with the private renewable market on a trajectory to surpass R200 billion by 2030, the opportunity ahead of us is substantial. We look forward to leveraging this partnership with Maia Capital to drive our next chapter of growth.”
Covington & Burling acted as legal counsel to Maia Capital
Distributed by APO Group on behalf of Maia Capital Partners.
For more information contact:
Tshandu Ramusetheli
Chief Executive Officer
Maia Capital Partners
tshandu@maiacapital.co.za
invest@maiacapital.co.za
Tel: +27-72-197-8752
About Maia Capita Partners and the Maia Debt Impact Fund I:
Maia Capital Partners was established in June 2020 with a mission to generate competitive financial returns while driving positive social and environmental impact through private debt investments. The firm reached its final close in June 2024, raising over R1 billion from South African pension funds.
The Maia Debt Impact Fund I is dedicated to driving economic transformation by providing mezzanine financing to mid-market companies across a variety of sectors, including renewable energy, affordable housing, healthcare, education, financial inclusion and more. Maia Capital’s focus on economic transformation ensures we support industries that promote infrastructure development, job creation, and sustainable industrialization, while remaining open to a wide range of impactful transactions.
Maia Capital Partners was founded by a team of seasoned investment professionals with over 80 years of combined experience in private markets, infrastructure, and impact investing. The firm is headquartered in Johannesburg, South Africa
Website: www.MaiaCapital.co.za
