Nesa Power gets cash boost for C&I power growth
Nesa Power, a South African commercial and industrial (C&I) renewable energy group has secured R150mn in mezzanine debt funding from Maia Capital Partners
The money will be used by Nesa as growth capital to fund the acquisition of solar photovoltaic (PV) sites and expand its portfolio.
The company delivers integrated solar, storage and energy solutions under long-term power purchase agreements (PPAs) for clients in South Africa and beyond.
Since its inception, Nesa Power 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 R400mn in capital in managed funds that have invested in and currently operate over 70 solar PV C&I assets on a PPA basis.
The company 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.
“Securing this mezzanine facility from Maia Capital is a significant milestone for the group and reflects the strength of the business we have built,” said Mike Bleyenheuft, co-founder and CEO of Nesa Power.
He said the partnership with Maia Capital will ensure that Nesa Power 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 R200bn by 2030, the opportunity ahead of us is substantial. We look forward to leveraging this partnership… to drive our next chapter of growth.”
Nesa Power 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, it 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 first solar-based VERRA carbon grouped projects in South Africa.
Nesa Power’s co-founder and group chief investment officer, Percy Ying, said the new investment “materially strengthens” the company’s ability to execute on its growth strategy.
“The investment will also facilitate meaningful job creation and contribute positively to the broader South African economy — an outcome we are deeply committed to."
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