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An announcement from Chariot Oil & Gas ( (GB:CHAR) ) is now available.
Chariot Limited has successfully secured significant financing and a strategic equity partnership to fund its investment in two wind generation projects, Zen and Bergriver, in South Africa. These projects are led by Acciona Energia, with construction set to begin soon. Chariot has established a new subsidiary, Chariot Generation and Trading Pty Limited, which holds a 24% stake in the projects and a 34% economic interest in the South African electricity trading platform, Etana. The financing package includes project finance debt, equity investment from the Mahlako Energy Fund, and mezzanine debt, with no dilution at the parent company level. This strategic move positions Chariot to receive revenue streams from electricity generation and trading post-commissioning in mid-2027, enhancing its renewable power business and market presence in South Africa.
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 is an Africa-focused energy group with two main business streams: Upstream Oil and Gas and Renewable Power. The company’s Renewable Power division aims to provide competitive, sustainable, and reliable energy by generating and trading renewable power in South Africa, while also advancing power-to-mining projects across the continent. Additionally, Chariot is developing a green hydrogen asset, Project Nour, in Mauritania.
Average Trading Volume: 3,031,089
Technical Sentiment Signal: Strong Sell
Current Market Cap: £22.56M
Find detailed analytics on CHAR stock on TipRanks’ Stock Analysis page.