TIDMCHAR
RNS Number : 6725A
Chariot Limited
04 February 2022
RENEWABLE ENERGY FOR MINES: TOTAL EREN AND CHARIOT TO DELIVER
SOLAR PV PROJECT FOR THARISA'S MINE IN SOUTH AFRICA
Johannesburg/London/Paris - February 4(th) , 2022 - Total Eren,
a leading renewable energy Independent Power Producer (IPP) based
in France and Chariot (AIM: CHAR), the African focused transitional
energy company, are pleased to announce the signing of a Memorandum
of Understanding ("MoU") with Tharisa plc, the platinum group
metals and chrome producer, listed on the Johannesburg and London
stock exchanges, to develop, finance, construct, own, operate and
maintain a solar photovoltaic (PV) project for the supply of
electricity to the Tharisa mine, in the North West Province, South
Africa.
The solar PV project is initially anticipated to be 40 MWp with
demand expected to increase over the life of the Tharisa Mine. This
MoU is the first step towards implementation of the Project and
signing of a long-term Power Purchase Agreement (PPA) for the
supply of electricity on a take-or-pay basis.
Fabienne Demol, Executive Vice-President & Global Head of
Business Development of Total Eren, commented: "We are very pleased
to be entering into this MoU with Tharisa. Through our partnership
with Chariot, we are keen to assist mining companies in Africa to
reduce their carbon intensity and energy costs, via implementing
renewable power solutions into their operations. We are eager to
bring our global expertise in solar generation to Tharisa mine and
we look forward to delivering further renewable projects for our
mining customers in Africa and worldwide."
Benoit Garrivier, Chariot Transitional Power CEO, commented:
"This is a great outcome for Chariot's Transitional Power division
and demonstrates the financial and sustainable benefits that our
offering can bring to mining companies operating in Africa. The
Tharisa team are very forward looking and understand that the
addition of a solar PV project at their mine in South Africa will
bring significant benefits to the business. Together with Total
Eren, we are excited to start working on the financing and
development of the project and we will update the market further on
this and other opportunities that we are progressing in due
course."
***
Disclosure relating to Chariot
Adonis Pouroulis, Acting CEO of Chariot, beneficially owns 39.86
per cent. of the total voting rights in Tharisa. Accordingly,
Tharisa is considered to be a related party of Chariot for the
purposes of the AIM Rules for Companies (the "AIM Rules"). The
entry into the MoU by Chariot is therefore a related party
transaction under Rule 13 of the AIM Rules. The independent
directors of Chariot (being all those save for Adonis Pouroulis)
consider, having consulted with finnCap Ltd, Chariot's nominated
adviser, that the terms of the MoU are fair and reasonable insofar
as Chariot's shareholders are concerned.
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.
NOTES FOR EDITORS:
About Tharisa
Tharisa is an integrated resource group critical to the energy
transition and decarbonisation of economies. It incorporates
mining, processing, exploration, and the beneficiation, marketing,
sales, and logistics of PGMs and chrome concentrates, using
innovation and technology as enablers. Its principal asset is the
Tharisa Mine located in the south-western limb of the Bushveld
Complex, South Africa. The mechanised mine has a 20-year open-pit
life and the ability to extend operations underground by at least
an additional 40 years. Tharisa also owns Salene Chrome, a
development stage, low-cost, open-pit asset, located adjacent to
the Great Dyke in Zimbabwe. The Company is committed to reduce its
carbon emissions by 30% by 2030 and the development of a roadmap is
continuing to be net carbon neutral by 2050. Tharisa plc is listed
on the Johannesburg Stock Exchange (JSE: THA) and the Main Board of
the London Stock Exchange (LSE: THS).
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 more
than 3,500 MW in operation or under construction 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. The objective is
to achieve a global gross installed capacity of more than 5 GW by
2022. Since December 2017, TotalEnergies, the major energy company,
has been participating as a shareholder of Total Eren.
For more information, please visit www.total-eren.com
About Chariot
Chariot is an African focused transitional energy group with two
business streams, Transitional Gas and Power.
Chariot Transitional Gas is a high value, low risk gas
development project 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.
Additionally in September 2021, Chariot announced its partnership
with the Government of Mauritania for the potential development of
a large-scale green hydrogen project.
The ordinary shares of Chariot Limited are admitted to trading
on the AIM under the symbol 'CHAR'.
For further information please contact:
Total Eren
Solange Petit de Bantel, Communication and PR Manager +33 6 18
23 76 99
solange.debantel@total-eren.com
Salah Ben Hamoudi, Lambert Volpi (Brunswick Group) +33 1 53 96
83 83
eren@brunswickgroup.com
Chariot Limited
Adonis Pouroulis, Acting CEO
Julian Maurice-Williams, CFO +44 (0)20 7318 0450
finnCap (Nominated Adviser and Joint Broker)
Christopher Raggett, Simon Hicks, Edward Whiley +44 (0)20 7220 0500
Peel Hunt (Joint Broker)
Richard Crichton, David McKeown +44 (0)20 7418 8900
Celicourt Communications (Financial PR)
Mark Antelme, Jimmy Lea +44 (0)20 8434 2754
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END
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