REG - Chariot Limited - Chariot to deliver solar project in South Africa

ChariotAnnouncement

04/02/2022 07:00

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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
(http://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 (mailto:solange.debantel@total-eren.com)
 

Salah Ben Hamoudi, Lambert Volpi (Brunswick Group)
                                    +33 1
53 96 83 83

eren@brunswickgroup.com
 

 

 Chariot Limited                                                                                       +44 (0)20 7318 0450

 Adonis Pouroulis, Acting CEO

 Julian Maurice-Williams, CFO

 finnCap (Nominated Adviser and Joint Broker)                                                          +44 (0)20 7220 0500

 Christopher Raggett, Simon Hicks, Edward Whiley

 Peel Hunt (Joint Broker)                                                                              +44 (0)20 7418 8900

 Richard Crichton, David McKeown

 Celicourt Communications (Financial                                                                   +44 (0)20 8434 2754
 PR)

 Mark Antelme, Jimmy Lea

 

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