Chariot and Total Eren partner on hydrogen project

RNS Number : 3453Y

Chariot Limited

06 September 2022

 

 

CHARIOT PARTNERS WITH TOTAL EREN ON A GREEN HYDROGEN PROJECT IN MAURITANIA

Paris/London, September 6^th, 2022     "The Consortium" composed of Chariot Limited (AIM: CHAR), the Africa focused transitional energy company and Total Eren, a leading renewable energy Independent Power Producer (IPP) based in Paris, is pleased to announce that it will launch feasibility  studies in order to  co-develop the "Nour Project", a large-scale green hydrogen project to be located in Mauritania.

Key features of the Partnership:

· Equally owned (50%/50%) partnership between Chariot and Total Eren;

· The Consortium will benefit from the dedicated expertise of Total Eren's teams, holding a wide range of experience and knowledge in solar, wind, hybrid and green hydrogen projects globally;

· Chariot will co-lead on project development and permitting, local content, and stakeholder engagement;

· The Consortium will seek to progress on the in-depth feasibility study and offtake for the green hydrogen; and

· Chariot and Total Eren may evaluate further green hydrogen opportunities together in other African countries.

Thanks to its unique solar and wind resources, Mauritania has proved to be exceptionally well-placed to implement Power-to-X solutions, providing Nour Project the possibility to produce among the most competitive green hydrogen in the world. With a potential reaching up to 10 GW of electrolysis to be installed, it could become, once fully implemented, one of the most significant green hydrogen projects in Africa.

Through the Nour Project, the Consortium will contribute to a sustainable economic development in Mauritania, including potentially providing baseload power to the national grid, diversifying industrial activities, promoting job creation and developing local infrastructure. It will also be providing a cost-effective, transportable energy solution to replace CO₂ emitting fuels for exportation to the European market.  

Fabienne Demol, Executive Vice-President & Global Head of Business Development of Total Eren, stated:   "We believe that green hydrogen is going to be an essential part of the energy mix in the future, and we are delighted to enter into this new partnership on a continent where our strategic shareholder, TotalEnergies, holds a strong footprint. Our skillsets complement Chariot's well and we intend to share our expertise throughout the project's development. I also would like to take the opportunity to thank the Mauritanian authorities for their support and collaboration. We look forward to taking the next steps on the Project together with Chariot."

Adonis Pouroulis, Chariot's CEO added: "We are delighted to have further cemented our partnership with Total Eren, a world-class leader in renewable energies. We look forward to working together on this highly important green hydrogen development in Mauritania. Having a partner of such calibre, who shares our vision and focus for the future, is a key part of developing this valuable asset and marks an important step forward in Project Nour's evolution. We are keen to continue to expand our green hydrogen project portfolio and, as with our renewables business, we look forward to collaborating on further opportunities alongside Total Eren in the future."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European Union (Withdrawal) Act 2018.

About Total Eren

Founded in 2012 by Pâris Mouratoglou and David Corchia, Total Eren develops, finances, builds and operates renewable energy power plants (solar, wind, hydro) representing a gross capacity of 3,500 MW in operation worldwide. Through partnerships with local developers, Total Eren is currently developing numerous energy projects in countries and regions where renewable energy represents an economically viable response to growing energy demand such as in Europe, in Central and South Asia, in Asia Pacific, in Latin America and in Africa. Since December 2017, TotalEnergies, the major energy company, has been participating as a shareholder of Total Eren.

Besides Mauritania, Total Eren is working on several large-scale green hydrogen projects globally.

Visit us at www.total-eren.com .

About Chariot

Chariot is an African focussed transitional energy group with two business streams, Transitional Gas and Transitional Power.

Chariot Transitional Gas is a high value, low risk gas development project offshore Morocco with strong ESG credentials in a fast-growing emerging economy with a clear route to early monetisation, delivery of free cashflow and material exploration upside. Chariot Transitional Power, looking to transform the energy market for mining operations in Africa, providing a giant largely untapped market with cleaner, sustainable, and more reliable power.

The ordinary shares of Chariot Limited are admitted to trading on the AIM under the symbol 'CHAR'. 

For more information, please contact :

Total Eren Solange Petit de Bantel, Communication and PR Manager   [e-mail] Agnès Catineau, Virgile Billod (Brunswick Group)  [e-mail] Chariot Limited Adonis Pouroulis, CEO Julian Maurice-Williams, CFO	[phone] [phone] [phone]
Cenkos Securities Plc (Nomad and Joint Broker) Derrick Lee, Adam Rae (Corporate Finance) Peel Hunt LLP (Joint Broker) Richard Crichton, David McKeown	[phone] [phone]
Celicourt Communications  (Financial PR) Mark Antelme, Jimmy Lea	[phone]

 

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