Chariot Ltd. (OIGLF)

[douginil]

Chariot

[[ Thanks to Malcy's blog ]]

Total Eren, a leading renewable energy Independent Power Producer based in France and Chariot, the African focused transitional energy company, are pleased to announce the signing of a Memorandum of Understanding 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 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.”

This is more very good news for Chariot as it continues to increase its spread across Africa and in both transitional gas and power. In its partnership with Total Eren, Chariot Transitional Power, looking to transform the energy market for mining operations in Africa and this is another important, substantial step along that road.

What is more, and what I really don’t think that the market has yet to appreciate, is quite what the sheer size of the potential prize is in providing mining operations with power from solar PV projects across the continent of Africa. With its first mover position and partnerships Chariot is in a very strong situation and is also in a strong in its gas business in Morocco where it is poised to be a key player in the country’s power generation capacity. Accordingly I remain convinced that the shares will rise by a factor as this prize is achieved in coming years.

Read at:
https://www.malcysblog.com/2022/02/oil-price-chariot-kistos-angus-far-and-finally/