The funding will enable Nesa Power to acquire additional solar photovoltaic (PV) sites and accelerate the rollout of renewable energy projects for businesses seeking reliable, lower-cost electricity.

The investment comes as South Africa’s private power market continues to expand, driven by growing demand from companies looking to reduce dependence on the national grid and improve energy security.

Nesa develops integrated solar, battery storage and energy solutions for commercial and industrial customers through long-term PPAs, allowing businesses to access renewable electricity without making large upfront capital investments.

Since its establishment, the company and its founders have built more than 46 megawatts-peak (MWp) of solar PV generation capacity and 6.5 megawatt-hours (MWh) of battery storage.

It has also raised more than R400 million through managed investment funds that own and operate over 70 commercial and industrial solar assets.

Tshandu Ramusetheli, Chief Executive Officer of Maia Capital, said the investment aligns with the firm’s strategy of deploying private capital into businesses that deliver measurable economic and social impact.

“Providing clean, affordable energy to South African businesses is one of our key impact and investment objectives. It also supports the country’s goal of strengthening energy security through greater private sector participation in electricity generation. We believe investments like this can deliver both strong commercial returns and meaningful development outcomes.”

The transaction also reflects growing investor interest in South Africa’s distributed renewable energy market.

Years of electricity shortages and power disruptions have encouraged businesses to secure independent energy supplies, creating one of Africa’s fastest-growing markets for commercial solar projects.

Industry forecasts suggest South Africa’s private renewable energy market could exceed R200 billion (US$12.17 billion) by 2030 as companies continue investing in self-generation and long-term clean energy solutions.

Mike Bleyenheuft, Co-Founder and Chief Executive Officer of Nesa Power, said the financing marks an important step in the company’s expansion plans.

“This facility strengthens our ability to grow our renewable energy platform and expand our PPA portfolio at a time when demand from the commercial and industrial market continues to increase. We see significant opportunities ahead as South Africa’s energy transition gathers pace, and this partnership provides the capital needed to support our next phase of growth.”

Nesa has spent more than a decade developing and operating renewable energy assets for commercial and industrial clients.

Through its group companies, it provides project development, engineering, procurement and construction management (EPCM), PPA financing, operations and maintenance services, and carbon credit development, including one of South Africa’s first solar-based grouped VERRA carbon projects.

The transaction highlights the increasing role of private debt in financing Africa’s energy transition.

As demand for reliable electricity continues to outpace grid capacity, flexible financing solutions are becoming essential for scaling renewable energy infrastructure.

Investments such as Maia Capital’s support for Nesa demonstrate how private capital is helping expand clean power generation, improve energy resilience and unlock long-term investment opportunities across South Africa’s commercial energy market.