Babbé LLP acts for Chariot Limited re 75MW solar project and funding package

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Babbé LLP has acted for Chariot Limited in relation to a 75MW solar project and funding package for its renewable energy division

Babbé LLP worked with Chariot, an Africa focused transitional energy group, on the Du Plessis Dam PV2 solar project and a funding package consisting of US$155 million of guarantee finance for Etana Energy (Pty) Limited, Chariot’s electricity trading joint venture in South Africa.

Etana is owned by Chariot (49%) and H1 Holdings (Pty) Limited (51%) and is focused on providing competitive, sustainable end-to-end energy solutions through the connecting of power generation projects to commercial and industrial users by wheeling electricity across South Africa’s national grid.

The deal will enable new renewable energy projects to break ground, with construction on the Du Plessis Dam PV2 in South Africa’s Northern Cape, commencing Q2 2025.

The Babbé team, Andrew Laws, Senior Partner, Ann Halliday, Counsel, and Keith Bell, Consultant, worked alongside Chariot’s General Counsel, Nick Shepherd, and South African law firm, Webber Wentzel.

Andrew Laws said: “This was an interesting but complex multi-jurisdictional transaction, representing South Africa’s largest transaction involving energy wheeling – the process of transferring solar electricity to consumers, via the national grid. We are delighted to have played a part in it and wish Chariot and Etana every success with this project.”

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