Chariot Ltd (AIM:CHAR, OTC:OIGLF) said it was forming a joint venture with France’s Total Eren to develop the Nour green hydrogen project in Mauritania.
With a 50-50% partnership agreed with the Paris-based renewable energy specialist, the duo will now launch extensive feasibility studies to co-develop the Nour project and said they could also assess other opportunities together. green hydrogen in other African countries.
Chariot said he would “co-lead” project development and licensing, local content and stakeholder engagement and that the partnership would benefit from Total Eren’s dedicated expertise in solar, wind, hybrid and of green hydrogen around the world.
Fabienne Demol, Global Head of Business Development at Total Eren, said: “We are convinced that green hydrogen will be an essential part of tomorrow’s energy mix, and we are delighted to enter into this new partnership on a continent where our shareholder strategy, TotalEnergies, has a strong footprint.
“Our skills complement Chariot’s well and we intend to share our expertise throughout the development of the project.”
Energy supermajor TotalEnergies is a 23% shareholder in Total Eren and has an option to take full control of the renewable energy specialist from this month.
Adonis Pouroulis, CEO of Chariot, said: “We are delighted to have strengthened our partnership with Total Eren, a world leader in renewable energy.
He said having a partner of the caliber of the Paris-based company “is key to developing this valuable asset” and “we look forward to collaborating on other opportunities alongside Total Eren in the future.” .