Etana Energy, a South African electricity trading platform partly owned by Chariot Limited, has successfully reached financial close for its 75 MW Du Plessis Dam PV2 solar project.
This marks the first solar generation project within Etana’s larger renewable energy portfolio. A 20-year Power Purchase Agreement has been signed for the full output of the project, with renewable energy developer Mulilo tapped for construction.
Located in South Africa‘s Northern Cape, the Du Plessis Dam PV2 project will begin construction in the second quarter of 2025. The project’s financial close was made possible by a $155 million finance guarantee, supporting Etana’s financial stability.
“There has been oversubscribed demand from industrial and commercial customers looking for long term, sustainable supply and we believe we have a very scalable business that is at the forefront of helping to resolve the energy situation in South Africa,” said Adonis Pouroulis, CEO of Chariot.
Etana Energy, a joint venture between Chariot (49%) and H1 Holdings (51%), aims to provide competitive, sustainable energy solutions by connecting renewable power projects to commercial and industrial consumers through South Africa’s national grid.
