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The Chariot Energy Group has signed binding key terms of a long-term joint development partnership with the French renewable energy producer Total Eren. The agreements signed will set out the relationship between the partners for the joint ventures on wind and solar projects for mining clients in Africa.
The companies have got in this partnership for three years that will be effective from 1st January 2022, with the option to extend for a further two years. The deal enables Chariot to have the right to invest between 15% to 49% into co-developed projects.
The Acting CEO of Chariot, Adonis Pouroulis said at the event that the partnership is looking forward to providing reliable, sustainable, and more competitive energy for the operational mines in Africa. With Chariot’s deep understanding and high-level commercial networks, the company looks forward to progress projects on the mining market in Africa which is largely untapped.
The Executive Vice-President & Global Head of Business Development at Total Eren, Fabienne Demol, said “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,” she added.
Both the partners also aim to collaborate on other non-mining energy projects and transactions in the African market.
Chariot has started diversifying into renewable energy by acquiring Africa Energy Management Platform (AEMP), a renewable and hybrid energy projects developer focused on African mining sites in March this year. AEMP has a strategic partnership with Total Eren, with the groups having developed several projects, including the construction of a 13MW solar plus storage power station at Burkina Faso mines.