RCS - Chariot Limited - Update - Electricity Trading Licence, South Africa

ChariotAnnouncement

18/09/2023 11:30

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RNS Number : 7822M  Chariot Limited  18 September 2023

 

18 September 2023

 

Chariot Limited

("Chariot", the "Company")

 

Update on Electricity Trading Licence in South Africa

 

Renewable energy wheeled for first time through Cape Town's grid

 

Chariot Limited (AIM: CHAR), the Africa focused transitional energy group,
announces that the first electrons of renewable energy have officially been
wheeled via the City of Cape Town's energy grid, as part of the city's plans
to end load-shedding. Growthpoint Properties (JSE: GRT) became the first party
to wheel renewable electricity in the city in collaboration with licenced
electricity trader Etana Energy (Pty) Limited ("Etana"), a joint venture in
which Chariot holds a 25% interest, along with the Neura Group, (49%) and H1
Holdings (26%).

 

Wheeling is a process where electricity is bought and sold between private
parties, using the existing grid to transport power from where it is generated
to end-users that can be long distances apart. It creates greater access to
affordable renewable energy and contributes to resolving the country's energy
crisis.

 

As part of the City's wheeling pilot project, in which Etana was selected as a
participating trader, solar energy generated at Growthpoint's The Constantia
Village shopping centre in Constantia is being exported into Cape Town's
electricity grid for use at Growthpoint's 36 Hans Strijdom office building in
the Foreshore. Solar power from The Constantia Village was successfully
injected into the City's energy grid for the first time in September 2023.

 

Benoit Garrivier, CEO of Chariot Transitional Power, says: "Through our joint
venture, Etana Energy, we are very proud to have been involved in the first
wheeling of renewable energy in Cape Town. We are very pleased that the city
selected us as a trading partner, and we look forward to providing further
energy support to the region for the foreseeable future.

 

"This electricity licence not only enables us to instigate this trading, but
it also has the potential to help to unlock the development of further large
renewable projects in South Africa. We are looking to supply greener power
across the national grid for commercial and industrial requirements so this
early stage trading is a key step within our longer term plans for this
business."

 

 

Enquiries

 

 Chariot Limited                                     +44 (0)20 7318 0450

 Adonis Pouroulis, CEO

 Julian Maurice-Williams, CFO

 Cavendish Securities Plc (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 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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