TIDMCHAR
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 CO(2)
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 +33 6 18 23 76
solange.debantel@total-eren.com 99
Agnès Catineau, Virgile Billod (Brunswick
Group) +33 1 53 96 83
eren@brunswickgroup.com 83
Chariot Limited
Adonis Pouroulis, CEO +44 (0)20 7318
Julian Maurice-Williams, CFO 0450
+44 (0)20 7397
8900
Cenkos Securities Plc (Nomad and Joint Broker)
Derrick Lee, Adam Rae (Corporate Finance)
Peel Hunt LLP (Joint Broker) +44 (0) 20 7894
Richard Crichton, David McKeown 7000
Celicourt Communications (Financial PR) +44 (0)20 8434
Mark Antelme, Jimmy Lea 2754
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END
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