Chariot Limited, the transitional energy company with a focus on Africa, announce that it has established a new joint venture through a 25% stake in Etana Energy (Pty) Limited (“Etana”), a new South African electricity trading company that has been granted an electricity trading licensee by the National Energy Regulator of South Africa (“NERSA”).
Despite being the continent’s largest electricity market, South Africa frequently experiences power outages because of a lack of supplies. Rapid market deregulation is currently occurring to combat the current energy crisis, and it includes the selective issuance of electricity trading licences and the facilitation of the construction of energy projects with a generation capacity of up to 100 MW.
With the license, Etana is now able to access a variety of high-volume off-takers, including municipal, industrial, and retail customers, to help address the significant power requirements across South Africa. Etana’s goal is to deliver distinctive renewable energy mix solutions at competitive prices.
This trading license allows for the purchase and sale of electricity within a few particular municipal boundaries as well as on the national transmission grid.
Electricity trading might add another source of income for Chariot and open the door for future involvement in sizable renewable energy projects in Southern Africa.