We are an active, licensed trader already supplying renewable electricity to customers in major cities like Johannesburg, Cape Town and Nelson Mandela Bay.
With our first project already in operation, several in construction and a secured pipeline of shovel-ready wind and solar projects with grid connection, we have the capacity to deliver renewable energy in the near term.
Meet Etana Energy
Vetted and Backed by Strong Local and International Shareholders and Guarantors
Our Shareholders
Our shareholders bring decades of local and international experience and a proven track record of delivering and financing large-scale clean energy projects across South Africa and beyond.
H1 Holdings
A South African Renewable Energy Juggernaut
H1 Holdings is a 100% black-owned South African investment company, founded in 2000, focused on high-ESG power projects. Its 2.8GW renewable portfolio includes hybrid projects with 1.1GWh battery storage, of which 1.9GW is operating and the remainder under construction.
Norfund
Owned and Funded by the Norwegian Government
Norfund invests in businesses driving sustainable development. It focuses on clean energy, financial institutions and green infrastructure, supporting solar, wind, hydropower, biomass and geothermal projects to expand energy access and accelerate the carbon-neutral transition.
Chariot Transitional Power
Powered by Global Expertise
Chariot Transitional Power (CTP), part of AIM-listed Chariot Limited, develops and finances renewable energy solutions for mining and industrial offtakers across Africa. An independent power producer, CTP has over 1GW of renewable and hybrid projects at varying development stages.
Standard Bank
Africa's Largest Bank
Standard Bank operates in 20 African countries and global markets, offering financial services from personal and business banking to corporate, investment and wealth management. Committed to net zero by 2050, it is expanding financing for renewable projects, energy and infrastructure.
Our Guarantor Partners
Etana Energy is proud to be backed by world-class financial institutions committed to accelerating South Africa’s clean electricity transition.
With the support of GuarantCo, British International Investment (BII) and Standard Bank, we have secured R2.8 billion in payment guarantee facilities, giving us the runway to deploy 700 megawatts of renewables in the near term.
Our leadership team brings a combined 100+ years of local and international energy experience. We leverage this deep knowledge to develop innovative, customer-centric solutions that prepare you for the opportunities of the emerging wholesale market.
Meet Our Executive Team
Evan Rice
Chief Executive Officer
Proven energy leader (ex-Tesla, McKinsey) with 20 years of local and international experience.
- Evan serves as CEO of Etana Energy, a renewable energy trader combining wind, solar and battery energy storage projects.
- Brings nearly 20 years of energy and cleantech expertise, scaling businesses across Sub-Saharan Africa, Middle East and Europe.
- Overseen the development of Etana’s business from concept to operational business with Generators in construction, 20+ industrial customers, investments from Norfund and Standard Bank and R2.8Bn in payment guarantee facilities (from GuarantCo, BII and Standard Bank).
- Key Experience:
- Tesla (Energy Storage): Director, EMEA, Energy Products - significantly expanded EMEA energy storage business as EMEA regional leader.
- Locaso: Managing Director, advisory and consulting to project developers, investors and entrepreneurs involved in the transition to a clean energy system.
- GreenCape: CEO, cleantech cluster organisation promoting and supporting business in the green economy in South Africa.
- Spinnaker Growth Partners: Advise and invest in high growth potential medium-sized businesses.
- McKinsey & Company: Engagement Manager.
- Education: BCom Honours, University of the Witwatersrand.
Jay Govender
Chief Commercial & Legal Officer
One of South Africa’s top energy lawyers; served as lead legal advisor to Eskom for a decade on the IPP Programmes.
- Jay serves as Etana’s Chief Commercial and Legal Officer, bringing 28 years of experience advising utilities, governments, and private sector players.
- Played a pivotal role in shaping South Africa’s energy transition.
- Key Experience:
- Eskom: Lead legal advisor for 10 years on the IPP Programmes.
- International Experience: Worked across 14 African countries on regulatory reforms and large-scale energy projects.
- Local Authority: Co-authored five leading industry handbooks, and trained regulators, utilities, and banks, on power purchase agreements and energy financing.
- With deep expertise in both public and private energy markets, Jay is a sought-after expert on South Africa’s evolving power landscape.
Krayvasan Govender
Chief Financial Officer
20-year infrastructure corporate finance expert with experience at Macquarie and Nedbank across developer, investor, and advisory roles.
- Krayvasan serves as Etana’s Chief Financial Officer, bringing 20 years of experience in infrastructure corporate finance.
- His experience includes advisory work on numerous utility-scale South African and international infrastructure transactions (roads, airports, thermal/renewable power, PPPs, water).
- Key Experience:
- H1 Holding: Transactor in the transaction teams facilitating general asset management and transaction execution.
- Eaglestone Capital Advisory: Associate Director; part of the founding members of an independent financial advisor in the South African infrastructure and energy sector. Early activities included development work for projects that were awarded contracts in the SA REIPPPP.
- Macquarie: Project Finance Transactor with energy and general infrastructure experience in both South Africa and South East Asia.
- Other experience includes general startup business development, independent financial advisory services, property fund raisings, and fibre and telecoms development.
- Cross-Functional Expertise: Has held roles as an advisor (negotiating project finance), developer (fundraising), and investor (Board involvement).
- Education: Master of Finance (INSEAD), BBus – Finance (UCT)
Sam van Embden
Head of Analytics & Trading
Seasoned energy trading and analytics expert. With leadership experience at Tesla and EDF Power Solutions, driving >1GWh of BESS and >75MW of Virtual Power Plant Dispatchable Hybrid projects in South Africa.
- Driving Etana’s growth and trading platform – where data, technology, and trading expertise come together to unlock value in South Africa’s energy transition.
- Sam leads Etana’s analytics and trading team, combining deep technical insight with commercial strategy. He focuses on building the products, data-driven platforms and trading systems to deliver real impact for customers.
- Key Experience:
- EDF Power Solutions: Head of Storage and Markets, leading >1GWh of BESS and >75MW of Virtual Power Plant Hybrid projects in South Africa.
- Tesla Energy: Various roles across value chain of energy storage and trading operations in Europe, the Middle East, and Africa.
- Education: BSc in Electro-Mechanical Engineering (University of Cape Town).
Nimal Chabilall
Head of Operations
18-year operations executive with a track record of planning and executing multi-billion Rand national projects at MTN.
- Nimal oversees Etana’s strategic programs that drive operational excellence and sustainable growth.
- He also oversees strategic partnerships with utilities and manages post-sales customer engagement, ensuring long-term relationships and exceptional service delivery.
- Key Experience:
- MTN: Successfully planned and executed multi-billion Rand national projects, including large-scale technology rollouts and infrastructure deployments.
- Startup Sector: Partnered with various startups, helping them scale into industry-recognised enterprises.
- Education: MBA, National Diploma in Light Current Engineering.
Jevon Martin
Head of Business Development
Ex-Sibanye-Stillwater energy lead (concluded 400MW / R12B in deals) and former chair of BUSA energy committee and the EIUG.
- Jevon spearheads the development of innovative wheeled renewable energy products for Etana Energy, as well as client and generator acquisition.
- Brings deep customer-side insight into the needs and concerns of large energy users.
- Key Experience:
- Sibanye-Stillwater: VP of Energy and Decarbonization; led carbon neutrality strategy and 400MW+ (R12B) in renewable deals.
- Eskom: Multiple roles across the utility’s complete value chain.
- Industry Leadership:
- BUSA: Chair of the Business Unity South Africa Energy Committee.
- EIUG: Chair of the Energy Intensive Users Group.
- Education: BSc in Electrical Engineering (University of Cape Town), MBA (Warwick Business School).
Image courtesy of ACCIONA Energía
Etana was issued an energy trading licence by the National Energy Regulator of South Africa (NERSA) in May 2022.
This licence authorises Etana to buy and sell electricity in South Africa, on both Eskom and municipal electricity networks (where wheeling tariffs are in place).