Africa-focused energy firm Chariot Ltd (LON:CHAR) on Wednesday said it has agreed terms of a partnership with Paris-based renewables independent power producer Total Eren to jointly originate and develop wind and solar projects for mining customers in Africa.
The companies have signed “binding key terms” of a three-year partnership starting from 2022, with an option for an extension for another two years. Under the agreement, Chariot will have a right to invest between 15% and 49% into co-developed projects.
The move strengthens the relationship between the two companies, which are also looking to partner on other non-mining energy projects in Africa.
“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,” commented Fabienne Demol, Total Eren executive vice president and global head of business development.
Earlier this year, Chariot acquired Africa Energy Management Platform (AEMP), a developer of renewable and hybrid energy projects focused on African mining sites that had a partnership with Total Eren.
