Clean Energy Facility Capable of Powering an Average of 30,000 Homes Annually

174 Power Global Affiliate Chariot Energy Commits to Purchasing Nearly 20% of Oberon Output

HOUSTON–(BUSINESS WIRE)–174 Power Global today announced that it has completed and energized its Oberon Solar Power Facility (“Oberon”), one of the largest utility-scale solar generation facilities in Texas. Chariot Energy, an affiliate of 174 Power Global, has entered into a power purchase agreement (PPA) for 30 megawatts (MW) of the 180-MW project to support its 100 percent renewable energy product offering to retail customers across the deregulated Texas energy market, the Electric Reliability Council of Texas (“ERCOT”).

“This is a major milestone for both 174 Power Global and Chariot Energy, as we commissioned this project as a means of helping transform the way energy is generated and provided to the grid,” said 174 Power Global and Chariot Energy President and CEO, Henry Yun, PhD. “This announcement underscores our commitment to providing sustainable energy solutions to homes and businesses across the state.”

174 Power Global broke ground on the 180-MW project, located outside of Odessa in Ector County, in June 2019. The area was selected as it receives an abundance of productive sun and is a welcoming environment for new business by the local community. The facility is comprised of more than 560,000 solar panels.

The energy generated by the Oberon facility also will directly benefit Chariot Energy retail customers, who will receive grid energy powered by solar, without the need for the upfront expense of costly equipment traditionally required to go solar.

“Last year, we set out to position Chariot Energy as a leader in the renewable energy space at the consumer level in Texas, in addition to providing world-class customer service and transparency in our product offerings,” said Yun. “Today’s announcement does just that. Customers who choose Chariot Energy get clean, solar-generated electricity at prices competitive with energy plans that rely on traditional sources of energy, such as fossil fuels.”

About 174 Power Global

Irvine, California-headquartered 174 Power Global is a leading solar energy company that is wholly owned by the Hanwha Group. With deep expertise across the full spectrum of the project development cycle, 174 Power Global works closely with landowners, local communities, financial investors and other partners to build highly productive, utility scale solar power plants throughout North America. Since its formation in 2017, 174 Power Global has signed nearly 2 gigawatts (GW) of power purchase agreements and has more than 6 GW of additional projects in the development pipeline. The Company was ranked as the 2018 number #1 solar project development company in the United States by Wood Mackenzie. 174 Power Global’s name was inspired by the 174 petawatts (PW) of power the earth receives from the sun at any moment.

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About Chariot Energy

Chariot Energy is a Houston-headquartered retail energy provider that provides 100% clean, renewable energy to the Texas market. By offering simple, transparent and reliable electricity products to the communities it serves, Chariot Energy is transforming the energy supply for Texas while modernizing and simplifying the way solar energy is sold and delivered. In collaboration with its affiliate companies, Chariot Energy is able to bring competitive prices to the market by leveraging its value chain from the manufacturing of the solar modules and development of utility scale solar plants to the delivery of renewable power to homes and businesses.

Chariot Energy’s mission is to bring solar electricity to all, without a premium.

Chariot Energy was recently named a top three retail electricity provider by the readers of the Houston Chronicle and awarded five out of five stars by the Public Utilities Commission of Texas (PUCT). Additionally, a well-established energy ratings website named Chariot Energy a top two retail energy provider, ahead of legacy brands, such as Reliant, TXU and Gexa.

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