TotalEren and Chariot have announced today the signing of a new Memorandum of Understanding (MoU) with South African platfinum group metals and chrome producer Tharisa Plc.
The agreement paves the way to develop, finance, construct, own, operate and maintain a 40 MWp solar PV project at the Tharisa mine in South Africa’s North West Province.
Following the execution of the MoU and before the project can be implemented, the parties will be negotiating a Power Purchase Agreement (PPA) for the supply of electricity on take-or-pay basis.
Last November, Chariot had already signed binding key terms of a long-term joint-development partnership with Total Eren. By working together, both companies are working to jointly originate and develop wind and solar projects for mining clients in Africa.
The partnership has an initial duration of three years and started on January 1st, 2022. It could then be extended for a further two years. Under the agreement, Chariot will have a right to invest between 15 to 49% into the co-development of projects.
While TotalEren is a proven renewable energy independent power producer (IPP), Chariot acquired in 2021 the business of Africa Energy Management Platform (AEMP) for $2m to venture into the sector. AEMP was a renewable and hybrid energy project developer who already had a strategic partnership with Total Eren. Prior to AEMP’s acquisition by Chariot, both AEMP and TotalEren were already looking at a pipeline of 500 W of power to African mine operators.