Chariot and ACWA Power Partner to Create Southern Africa's Sustainable Energy Business

Chariot, a pan-African energy company, and ACWA Power, a leading global renewable energy company, have signed a Memorandum of Understanding (MoU) to explore the creation of a sustainable energy business in southern Africa. This strategic collaboration aims to develop, own, and operate transitional power assets across renewable energy, battery storage, and gas-to-power, with the energy generated being sold to national grids, corporate customers, and energy traders.

The partnership will focus on initial target countries including South Africa, Botswana, Namibia, Mozambique, Zambia, and Tanzania. By leveraging their combined technical, operational, and financing expertise, ACWA Power and Chariot aim to unlock investment opportunities and deliver scalable energy projects across the region.

Key Takeaways:

• Chariot and ACWA Power have signed a Memorandum of Understanding (MoU) to explore the creation of a southern African sustainable energy business.
• The partnership will focus on developing, owning, and operating transitional power assets across renewable energy, battery storage, and gas-to-power.
• Initial target countries include South Africa, Botswana, Namibia, Mozambique, Zambia, and Tanzania.
• ACWA Power brings global expertise and a large renewable footprint outside China to the partnership.
• Chariot's CEO, Adonis Pouroulis, sees significant potential in combining the companies' strengths to build a meaningful energy business in the region.
• The partnership represents an important step towards the proposed separation of the Chariot Group into two distinct entities.
• ACWA Power's capabilities will be crucial in developing this relationship over the longer term.
• Chariot will provide further updates on the partnership's progress as necessary.

Statistics:

• The partnership will focus on developing, owning, and operating transitional power assets across renewable energy, battery storage, and gas-to-power.
• The energy generated will be sold to national grids, corporate customers, and energy traders.
• Initial target countries include South Africa, Botswana, Namibia, Mozambique, Zambia, and Tanzania.
• ACWA Power has a large renewable footprint outside China.

Sources:

• [1] Chariot, “Chariot and ACWA Power announce Memorandum of Understanding to explore the creation of southern Africa's sustainable energy business”, [no date provided] (Note: Source material does not provide a publication date).
• [2] ACWA Power, “ACWA Power and Chariot announce Memorandum of Understanding”, [no date provided] (Note: Source material does not provide a publication date).
• Chariot. (no date). Copyright 2023.