Chariot and Total Eren partner to develop “largely untapped” wind and solar power market in African mining
Chariot Ltd, the Africa focused transitional energy company, recently announced that it has signed binding key terms of a long-term joint development partnership, with Total Eren, the leading France-based renewable energy Independent Power Producer. The agreed terms will set out the relationship between the partners from 1 January 2022 for the joint origination and development of wind and solar projects for mining clients in Africa.
The partnership is for three years, with the option to extend for a further two years. Chariot will have a right to invest between 15-49% into the co-developed projects. The partners also have ambitions to collaborate on other non-mining energy projects and transactions in Africa.
Fabienne Demol, Executive Vice-President & Global Head of Business Development at Total Eren, commented: “Total Eren is very pleased to implement a strategic partnership with Chariot. We continue to believe that our expertise as a global renewable IPP and our strategic partnership with TotalEnergies, combined with Chariot’s experienced team and wide reach to the African mining industry will bring further value accretive opportunities to our collaboration. Together, we are determined to address the energy needs of African mining companies, and we will collaborate on other renewable energy projects in Africa.”
Adonis Pouroulis, Acting CEO of Chariot, commented: “I am very pleased to announce that Chariot is partnering with Total Eren, a leading and skilful player in the renewable energy industry. This partnership is looking to provide clean, sustainable, and more competitive energy to operational mines in Africa. A market of significant scale, that is largely untapped, where Chariot’s management has a deep understanding and high-level commercial networks and we look forward to announcing our significantly progressed projects when appropriate.”