Maia Capital’s impact debt fund invests in solar energy adoption in South Africa
South Africa-basedMaia Capitalinvests in companies providing healthcare, social infrastructure, housing, clean energy and employment pathways to rebalance opportunity and wealth gaps caused by South Africa’s. . .
South Africa-basedMaia Capitalinvests in companies providing healthcare, social infrastructure, housing, clean energy and employment pathways to rebalance opportunity and wealth gaps caused by South Africa’s racist apartheid regime. Itslatest dealis 150 million South African rand ($9. 2 million) in mezzanine debt financing forNesa Power, a commercial and industrial solar and battery storage developer. South Africa, a coal-dependent country, has long grappled with inconsistent power supplies, which is driving households and businesses to distributed renewable alternatives. “Transactions such as these are important not only for Nesa Power, but for the broader South African economy,” said Nesa’sIsrael Skosana II. “They demonstrate what can be achieved when ambitious businesses, committed management teams and long-term capital partners work together to invest in productive infrastructure and sustainable growth. ” Funding for Nesa came from Maia’s 10-year impact debt fund – its first – whichclosedin 2024 with more than one billion rand and backing from South African pension funds. Maia’s prior deals includefinancing forStudent Living Asset Management, a Johannesburg-based private equity firm focused on student housing. It made a 100 million randinvestmentin microfinance firmFinCreditto provide housing finance for low- to middle-income households. And itprovided125 million rand toGreen Climate Venturesto promote renewable energy adoption. Its commitment was part of a 1. 5 billion rand facility arranged in partnership withNedbank.