Chariot Ltd (AIM:CHAR, OTC:OIGLF) said it is 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 pair will now launch in-depth feasibility studies to co-develop the Nour project and said they may also evaluate further green hydrogen opportunities together in other African countries.
Chariot said it will “co-lead” on project development and permitting, local content, and stakeholder engagement and that the partnership will benefit from Total Eren's dedicated expertise in solar, wind, hybrid and green hydrogen projects around the world.
Fabienne Demol, Total Eren’s global head of business development, said: “We believe that green hydrogen is going to be an essential part of the energy mix in the future, and we are delighted to enter into this new partnership on a continent where our strategic shareholder, TotalEnergies, holds a strong footprint.
“Our skillsets complement Chariot's well and we intend to share our expertise throughout the project's development.”
Energy supermajor TotalEnergies is a 23% shareholder in Total Eren and has an option to take over total control of the renewables specialist from later this month.
Adonis Pouroulis, Chariot's chief executive, said: “We are delighted to have further cemented our partnership with Total Eren, a world-class leader in renewable energies.”
He said having a partner of the calibre of the Paris-based company “is a key part of developing this valuable asset” and “we look forward to collaborating on further opportunities alongside Total Eren in the future”.