Chariot Ltd (AIM:CHAR, OTC:OIGLF) Chief Financial Officer Julian Maurice-Williams joined Steve Darling from Proactive to shared insights into a transformative financing agreement for Etana Energy, the South African electricity trading platform 49% owned by Chariot.
British International Investment (BII) and GuarantCo have announced a $100 million guarantee facility to support Etana’s mission of delivering sustainable, cost-effective power solutions by connecting generation projects to industrial and commercial users via South Africa’s national grid.
The financing includes $50 million from each guarantor and marks the largest energy wheeling framework transaction in South Africa to date. This innovative deal guarantees customer demand, providing renewable energy developers with the revenue certainty needed to advance new projects.
The $100 million guarantee facility is expected to unlock an estimated $500 million in renewable energy investments, enabling the development of approximately 500 MW of wind and solar capacity. Maurice-Williams highlighted the deal’s potential to catalyze a significant expansion of sustainable energy infrastructure in South Africa, aligning with Chariot’s commitment to advancing the global energy transition.
