Etana Energy, a joint venue 25% owned by Chariot Ltd (AIM:CHAR, OTC:OIGLF), has played a central role in Cape Town, South Africa’s landmark renewable energy-sharing project.
In an RNS filing, Chariot explained that the first electrons of renewable energy were officially ‘wheeled’ via the City of Capetown’s energy grid under plans to end the capital’s load-shedding issues.
Wheeling is a process in which electricity is bought and sold between private parties, using the existing grid to transport power from generators to end-users across long distances.
In this instance, solar power from The Constantia Village shopping centre was successfully injected into the City's energy grid for the first time, with Etana selected as a participating trader.
Excess energy generated at the Growthpoint-owned shopping centre was exported to Growthpoint’s office building.
Benoit Garrivier, chief executive of Chariot Transitional Power, commented: "Through our joint venture, Etana Energy, we are very proud to have been involved in the first wheeling of renewable energy in Cape Town.
“We are very pleased that the city selected us as a trading partner, and we look forward to providing further energy support to the region for the foreseeable future.
“We are looking to supply greener power across the national grid for commercial and industrial requirements so this early-stage trading is a key step within our longer-term plans for this business."