RCS - Chariot Limited - Etana Energy - Deal with Growthpoint Properties

ChariotAnnouncement

31/01/2024 07:00

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RNS Number : 4375B  Chariot Limited  31 January 2024

 

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                                              +44 (0)20 7318 0450

 Adonis Pouroulis, CEO

 Julian Maurice-Williams, CFO

 Cavendish Capital Markets Limited (Nomad and Joint Broker)   +44 (0)131 220 9778

 Derrick Lee, Adam Rae

 Stifel Nicolaus Europe Limited (Joint Broker)                +44 (0) 20 7710 7760

 Callum Stewart, Ashton Clanfield
 Celicourt Communications (Financial PR)                      +44 (0) 20 7770 6424

 Mark Antelme, Jimmy Lea

 

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 (https://chariotenergygroup.com)

 

 

 

 

 

 

 

 

 

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