Significant Renewable Power Supply Deal for a 10-year Term

Chariot, the Africa focused energy company, reports that Etana Energy (Pty) Limited ("Etana"), the South African electricity trading platform in which Chariot's subsidiary, Chariot Generation and Trading (Pty) Limited holds an economic interest of 34%, alongside H1 Holdings, Norfund and Standard Bank, has signed a significant Power Purchase Agreement with Sibanye-Stillwater. Sibanye-Stillwater is a multinational mining and metals processing group and one of the largest gold and platinum group metals producers in South Africa.

Under the 10-year agreement, Etana will deliver 220MW of renewable energy per year to Sibanye-Stillwater's mining operations, commencing in late 2027. This energy will be provided by wheeling electricity from Etana's solar and wind generation portfolio and transmitting this through South Africa's national grid. The Agreement has been structured to compliment and integrate directly into Sibanye-Stillwater's existing and future power requirements helping to significantly reduce both its electricity costs and carbon emissions.

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

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