Etana Energy has secured sole offtake for 150MWAC from the 219MWDC Orkney solar photovoltaic project in South Africa, which has reached financial close.
Chariot said its subsidiary Chariot Generation and Trading holds a 34% economic interest in Etana alongside H1 Holdings, Norfund and Standard Bank.
It added that the Orkney project in North-West province is being built by Mulilo and financed by Mulilo and a consortium of South African financial institutions.
Once operational, the scheme will export 150MWAC and is expected to generate around 478GWh of renewable electricity annually for Etana’s customers via the national and municipal distribution network.
The company noted that this is the second project completed through the Etana and Mulilo partnership, following the 75MWAC Du Plessis Dam Solar PV2 project that began construction last year.
“This is a further example of Etana delivering on its strategy and underlines how its business model is addressing both the supply and demand for renewable energy by enabling and instigating the build of these projects,” said Benoit Garrivier, chief executive officer of Chariot’s renewable power division.
“Etana is executing its plans at pace, closing projects expected to generate in excess of 500MW in the last 12 months, and is, in turn, serving to help redefine and enhance South Africa’s long term energy infrastructure,” he added.