Chariot Ltd (AIM:CHAR, OTC:OIGLF) said it is excited by a new project in partnership with Total Eren which will see the joint venture partners develop solar power for Tharisa PLC (LSE:THS, JSE:THA)’s platinum mine in South Africa.
The partners have inked a memorandum of understanding with Tharisa which details plans to develop a solar photovoltaic project that will supply of electricity to the mine.
It is expected to be a 40MWp project initially, with power demand expected to increase over the mine’s lifespan.
"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,” said Benoit Garrivier, who heads Chariot’s Transition Power division.
“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."
Fabienne Demol, Total Eren executive vice president, added: “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."
Tharisa’s head of ESG Tebogo Matsimela, in a separate statement, commented: “Tharisa plays a significant part in the global energy transition movement, and we are committed to producing these key metals in a sustainable manner.”