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
JOHANNESBURG, South Africa, July 1, 2026/ — Maia Capital Partners
(“www.MaiaCapital.co.za [6]”) 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
