Johannesburg, South Africa — 2025-12-15 Chariot Limited Completes Financing for South African Wind Projects. Chariot Limited (AIM: CHAR), an Africa-focused energy group, has successfully completed significant financing and entered into a strategic equity partnership to fund its investment in two wind generation projects in South Africa.
The projects, known as Zen and Bergriver, have reached financial close and are set to commence construction immediately, according to a company statement.
Chariot has established a new subsidiary, Chariot Generation and Trading Pty Limited, to consolidate its energy and trading operations in South Africa. This subsidiary now holds a 24% stake in the Zen and Bergriver projects, as well as a 34% effective economic interest in Etana Energy (Pty) Limited, a South African electricity trading platform.
The projects are being led by Acciona Energia, the world’s largest pure play renewable energy company.
Post — commissioning, anticipated in mid-2027, Chariot will receive revenue streams from the generation of electricity from these projects and from the subsequent trading of this power through Etana. “We are delighted to have completed this financing, which is a key part of our long-term plan to build our Renewable Power business, “said a Chariot spokesperson.
The company also expressed gratitude to co — investor Mahlako, a South African-focused investor, and to Standard Bank and Investec for their support.
Mahlako, an African women — owned social infrastructure group, is focused on delivering sustainable impact and superior risk-adjusted return profiles.
The group’s investment in Chariot’s projects marks an expansion into the emerging licensed electricity trading market in South Africa. Standard Bank Group, the largest African bank by assets, and Investec, which offers international banking, investments, and wealth management services, have also supported the project.
The Zen and Bergriver wind farms are expected to be significant milestones for Chariot and its partners, contributing to South Africa’s energy future and the broader renewable energy sector in Africa. Further details on the progress of the projects are expected to be provided in the coming months.
