Chariot Limited Partnership Terms Signed with Total Eren (6547S)
November 17 2021 - 2:00AM
UK Regulatory
TIDMCHAR
RNS Number : 6547S
Chariot Limited
17 November 2021
17 November 2021
Chariot Limited
("Chariot", the "Company" or the "Group")
Partnership Terms Signed with Total Eren
Relationship between Total Eren and Chariot further
strengthened
Chariot (AIM: CHAR), the Africa focused transitional energy
company, is pleased to announce that it has signed binding key
terms of a long-term joint development partnership, with Total
Eren, a leading France-based renewable energy Independent Power
Producer (the "Partners" and the "Partnership"). 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.
-- Partnership 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."
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.
For further information please contact:
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
NOTES FOR EDITORS:
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.
The ordinary shares of Chariot Limited are admitted to trading
on the AIM under the symbol 'CHAR'.
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END
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