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Chariot Oil & Gas ( (GB:CHAR) ) has shared an update.
Chariot Limited has reached financial close on two significant wind generation projects in South Africa, the Zen and Bergriver wind farms, with a combined capacity of 190MW. These projects, co-owned with Acciona Energía and H1 Holdings, are expected to commence construction soon and will contribute to reducing CO₂ emissions by 600,000 tonnes annually once operational. The projects mark a key milestone for Chariot, creating future revenue streams through power sales and energy trading via Etana Energy, a platform in which Chariot holds a 34% interest. This development aligns with Chariot’s strategy to expand its renewable power generation and trading portfolio, enhancing its position in the South African energy market.
The most recent analyst rating on (GB:CHAR) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on Chariot Oil & Gas stock, see the GB:CHAR Stock Forecast page.
Spark’s Take on GB:CHAR Stock
According to Spark, TipRanks’ AI Analyst, GB:CHAR is a Neutral.
Chariot Oil & Gas’s overall stock score reflects significant financial challenges and bearish technical indicators. However, strategic corporate events, including partnerships and a shift towards renewable energy, offer potential for future improvement. The company’s valuation remains unattractive due to ongoing losses.
To see Spark’s full report on GB:CHAR stock, click here.
More about Chariot Oil & Gas
Chariot Limited is an Africa-focused energy group with two core business streams: Upstream Oil and Gas and Renewable Power. The company is committed to providing competitive, sustainable, and reliable energy solutions, particularly in South Africa, and is also advancing its green hydrogen project in Mauritania. Chariot’s shares are traded on AIM under the symbol ‘CHAR’.
Average Trading Volume: 3,031,089
Technical Sentiment Signal: Strong Sell
Current Market Cap: £22.56M
For an in-depth examination of CHAR stock, go to TipRanks’ Overview page.