Maia Capital Partners Fuels Nesa Power’s Renewable Energy Expansion with R150 Million Mezzanine Facility
Maia Capital Partners has announced a significant R150 million mezzanine debt funding injection into the Nesa Power group, a prominent South African commercial and industrial (C&I) renewable energy entity. This strategic financing is earmarked as growth capital, intended to propel Nesa’s acquisition of solar photovoltaic (Solar PV) sites and the expansion of its Power Purchase Agreement (PPA) portfolio. Nesa Power specialises in delivering integrated solar, storage, and energy solutions under long-term PPAs, aiming to provide businesses with cost savings, operational continuity, and reduced carbon footprints through tailored renewable energy offerings.
This transaction underscores the increasing role of private capital in bolstering South Africa’s energy transition. Nesa Power’s commitment to offering both on-site and off-site generation and storage solutions positions it as a key player in the C&I sector’s decarbonisation efforts. The company has a proven track record, having developed over 46 megawatt-peak (MWp) of Solar PV generation capacity and 6.5 megawatt-hours (MWh) of battery storage since its inception. Furthermore, Nesa has successfully raised over R400 million in managed funds, which have facilitated the investment in and operation of more than 70 Solar PV C&I assets on a PPA basis.
The Nesa Power Group, with over a decade of experience in building and operating C&I renewable energy assets through strategic investment partnerships and managed funds, has evolved into a comprehensive renewable services provider. Its group companies offer a full spectrum of turnkey renewable energy services to the C&I market, including greenfield development, in-house design, engineering, procurement, and construction management (EPCM), PPA funding, ownership, and maintenance (O&M) services. Notably, Nesa is also active in carbon credit development, boasting one of the first solar-based VERRA carbon grouped projects in South Africa.
Tshandu Ramusetheli, CEO of Maia Capital, expressed enthusiasm for the partnership, stating, “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, highlighted the significance of the funding for Nesa’s strategic objectives. “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, underscored the milestone this facility represents. “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 in this transaction.
