Chariot Ltd secured $310M for two South African wind projects, set for mid-2027 completion, with a 20-year power deal.

Chariot Ltd has secured financing for two 190-megawatt wind projects, Zen and Bergriver, in South Africa, with construction set to begin soon and commissioning expected by mid-2027. The projects, led by Acciona Energia and H1 Holdings, are funded through $284 million in debt, $17 million in equity from Mahlako Energy Fund, and $9 million in mezzanine debt, all structured at the subsidiary level to avoid parent company dilution. Chariot holds a 24% stake via a new subsidiary and a 34% economic interest in Etana Energy, a power trading platform, enabling revenue from both generation and trading under a 20-year power purchase agreement.