31 January 2024
Chariot
Limited
("Chariot", the "Company")
Etana
Energy Signs Energy Supply Deal with Growthpoint
Properties
Landmark
Power Purchase Agreement in South Africa
Chariot Limited (AIM: CHAR),
the Africa focused transitional energy group, is pleased
to report that Etana Energy (Pty) Limited ("Etana"), the
electricity trading platform in which Chariot owns a 49% interest,
has signed a milestone Power Purchase Agreement ("PPA") with
Growthpoint Properties ("Growthpoint") (JSE:GRT) to supply them
with 195GWh of renewable energy a year.
This represents 32% of Growthpoint's total
current annual electricity consumption and Etana will wheel
electricity to their commercial property buildings
located in several jurisdictions in South Africa.
Growthpoint is South Africa's
leading Real Estate Investment Trust that
owns and manages a diverse portfolio of properties in the retail,
office and industrial sectors. This
agreement is the country's first multi-jurisdiction,
multi-building, multi-source renewable energy wheeling arrangement
and the supply will mainly consist of wind power, with components
of solar and hydroelectricity. Wheeling is a process where
electricity is bought and sold between private parties, using the
existing grid to transport power from the point of generation to
end-users.
Through this agreement with Etana,
Growthpoint has secured the rights to purchase hydroelectricity
generating roughly 30GWh per annum by a 5MW
hydroelectric power plant developed, owned and operated by
Serengeti Energy, which will be wheeled by Etana. The hydroelectric
power plant has reached financial close and is currently under
construction and once in production, expected in Q2 2025, will
generate baseload power on a 24/7 basis.
Benoit Garrivier, CEO of Chariot
Transitional Power, commented: "We are very pleased to report this deal
signed with Growthpoint as it is an excellent example of how the
Etana business model works. In linking renewable power sources to
customers through our trading platform we provide access to
sustainable energy solutions and help underpin development
fundamentals of new projects - both with and without Chariot's
direct participation, including the ongoing maturation of a 400 MW
gross portfolio of wind projects - by establishing robust offtake
commitments.
"Through Etana, we are directly facilitating the expansion of
South Africa's energy mix as well as providing energy that will
have a positive impact on customers and their carbon footprints.
This business is highly scalable, driven by tangible demand and we
will continue to build on this exciting growth platform going
forward."
Enquiries
Chariot Limited
Adonis Pouroulis, CEO
Julian Maurice-Williams,
CFO
|
+44 (0)20 7318 0450
|
Cavendish Capital Markets Limited (Nomad and Joint Broker)
Derrick Lee, Adam Rae
|
+44 (0)131
220 9778
|
Stifel Nicolaus Europe Limited (Joint Broker)
Callum Stewart, Ashton
Clanfield
|
+44 (0) 20 7710 7760
|
Celicourt Communications (Financial PR)
Mark Antelme, Jimmy Lea
|
+44 (0) 20
7770 6424
|
NOTES FOR EDITORS:
About Chariot
Chariot is an Africa focused
transitional energy group with three business streams, Transitional
Gas, Transitional Power and Green Hydrogen.
Chariot Transitional Gas is focused
on a high value, low risk gas development project offshore Morocco
in a fast-growing emerging economy with a clear route to early
monetisation, delivery of free cashflow and material exploration
upside.
Chariot Transitional Power is
focused on providing competitive, sustainable and reliable energy
and water solutions across the continent through building,
generating and trading renewable power.
Chariot holds 49% of Etana Energy
(Pty) Limited, alongside H1 Holding (Pty) Limited which holds 51%.
H1 is a black-owned and managed company based in South Africa,
which has a proven track record in developing and investing in
large renewable projects.
Chariot Green Hydrogen is partnering
with Total Eren and the Government of Mauritania on the potential
development of a 10GW green hydrogen project, named Project
Nour.
The ordinary shares of Chariot
Limited are admitted to trading on the AIM under the symbol
'CHAR'.
https://chariotenergygroup.com