REG - Chariot Limited - Etana Energy Secures 150MW in Solar Power Offtake

ChariotAnnouncement

23/02/2026 13:00

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RNS Number : 0462U  Chariot Limited  23 February 2026

 

23 February 2026

Chariot Limited

("Chariot", the "Company")

 

Etana Energy Secures Further Offtake and New Solar Project Reaches Financial
Close

Sole supply of 150MW(AC) will deliver 478GWh per annum to Etana customers

Chariot (AIM: CHAR), the Africa focused energy company, is pleased to report
that Etana Energy (Pty) Limited ("Etana"), the South African electricity
trading platform in which Chariot's subsidiary, Chariot Generation and Trading
(Pty) Limited ("Chariot Generation and Trading") holds an economic interest of
34%, alongside H1 Holdings, Norfund and Standard Bank, has signed up a further
150MW(AC) in sole offtake from the Orkney 219MW(DC) solar photovoltaic project
which has now reached financial close. Chariot Generation and Trading is
co-owned by Chariot and the Mahlako Energy Fund.

The Orkney project, located in the North-West province of South Africa, is
being built by Mulilo a leading renewable energy developer and independent
power producer and will be financed by Mulilo and a consortium of South
African financial institutions. Once operational, Orkney will have an export
capacity of 150MW(AC) and is expected to produce around 478GWh of renewable
electricity annually, which will be wheeled to Etana's customers via South
Africa's national and municipal distribution network. This is the second
project that has been completed through the Etana and Mulilo partnership, the
first being the 75MW(AC) Du Plessis Dam Solar PV2 project that commenced
construction last year.

Benoit Garrivier, CEO of Chariot's Renewable Power division, commented:

"This is a further example of Etana delivering on its strategy and underlines
how its business model is addressing both the supply and demand for renewable
energy by enabling and instigating the build of these projects. Etana is
executing its plans at pace, closing projects expected to generate in excess
of 500MW in the last 12 months, and is, in turn, serving to help redefine and
enhance South Africa's long term energy infrastructure."

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) 20 7397 8900

 Derrick Lee

 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, Charles Denley-Myerson, Kathleen Beams

 

Notes

 

About Chariot

 

Chariot is an Africa focused energy group with two core business streams:
Upstream Oil and Gas and Renewable Power.

 

Chariot's Renewable Power business is focused on providing competitive,
sustainable and reliable energy through building, generating and trading
renewable power in South Africa as well as progressing the development of its
power-to-mining projects on the continent. Chariot is also continuing to
advance its green hydrogen asset, Project Nour in Mauritania.

 

Chariot Generation and Trading is co-owned by Chariot, which owns a 65% stake
and the Mahlako Energy Fund managed by Mahlako A Phahla Financial Services
(Mahlako), a highly respected 100% black women owned fund manager in South
Africa which holds the remaining 35%.

 

The ordinary shares of Chariot Limited are admitted to trading on AIM under
the symbol 'CHAR'. https://chariotenergygroup.com
(https://protect.checkpoint.com/v2/r02/___https:/chariotenergygroup.com___.YXAxZTpldGFuYWVuZXJneTpjOm86YWE4ZmQzNDA3Y2I4ZDUwYmE0N2ZhNGMxYjI1ZGNlMjU6NzpjYTY2OjIwYWVjZDZiZWI3M2M4MzRlNDYzZjRlODQ5MmU2Mzc2ZTQxNzEzNTkwZjI4ZjQ0ZDdhZmJiNDE4NjI3YjM4NTE6cDpUOkY)

 

About Etana Energy

 

Etana Energy is a licensed energy trader actively supplying renewable
electricity through the national and municipal electricity grids to businesses
across South Africa. A majority black-owned company, Etana provides businesses
with flexible, renewable energy solutions that are clean and simple - enabling
deep decarbonisation, forward price path certainty and significant cost
savings. Etana has one hydroelectric project in operation, over 400MW of wind
and solar in construction, and a 500MW+ pipeline of shovel-ready
grid-connectable renewable energy projects, underpinned by secured payment
guarantee facilities. With this, Etana is fulfilling its mission of
accelerating the deployment of new clean energy generation capacity to the
South African grid. For more information, visit https://etana.energy/.

 

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