Chariot notes Etana Energy signs power purchase deal with Sibanye

(Alliance News) - Chariot Ltd on Friday noted that Etana Energy Pty Ltd signed a power purchase agreement with Sibanye-Stillwater Ltd, a Roodepoort, Gauteng-based gold and platinum producer.

Chariot, a London-based, Africa-focused company working on wind power, green hydrogen, and gas projects in Morocco and Mauritania, noted the "significant" power supply deal is for a 10-year term.

Chariot's subsidiary Chariot Generation & Trading Pty Ltd holds an economic interest of 34% in Etana Energy.

Under the 10-year agreement, Etana Energy will deliver 220 megawatt of renewable energy per year to Sibanye's mining operations, starting in late 2027. The energy will be provided by wheeling electricity from Etana's solar and wind generation portfolio and transmitting this via South Africa's national grid.

Benoit Garrivier, chief executive officer of Chariot's Renewable Power division, said: "This is another material offtake agreement signed with a major industrial customer which continues to underline the scale of the market that Etana can address. Importantly, this further evidences how Etana is able to augment and work alongside existing energy provisions, enabling large companies to meet their long-term energy needs with sustainable supply. Etana is fast becoming one of the largest providers of renewable energy in South Africa and we would like to congratulate the whole team on their impressive growth and development."

Chariot shares fell 3.2% to 1.43 pence each on late Friday morning in London, while Sibanye shares were down 0.1% at ZAR64.84 each in the afternoon in Johannesburg.

By Tom Budszus, Alliance News slot editor

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