Chariot Limited Update - Electricity Trading Licence, South Africa
September 18 2023 - 6:20AM
RNS Non-Regulatory
TIDMCHAR
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
Adonis Pouroulis, CEO
Julian Maurice-Williams, CFO +44 (0)20 7318 0450
Cavendish Securities Plc (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 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
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END
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