LONDON, UK: Total Eren Chariot (AIM: CHAR) signed a Memorandum of Understanding (MoU) with Tharisa plc to develop, finance, construct, own, operate and maintain a solar photovoltaic (PV) project for the supply of electricity to the Tharisa mine, in the North West Province, South Africa.

The solar PV project is initially anticipated to be 40 MWp with demand expected to increase over the life of the Tharisa Mine. This MoU is the first step towards implementation of the Project and signing of a long-term Power Purchase Agreement (PPA) for the supply of electricity on a take-or-pay basis.

Fabienne Demol, Executive Vice-President & Global Head of Business Development of Total Eren, commented: “We are very pleased to be entering into this MoU with Tharisa.

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.”

Benoit Garrivier, Chariot Transitional Power CEO, commented: “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.

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.”

Chariot is an African focused transitional energy group with two business streams, Transitional Gas and Power.

Tharisa is an integrated resource group critical to the energy transition and decarbonisation of economies. It incorporates mining, processing, exploration, and the beneficiation, marketing, sales, and logistics of PGMs and chrome concentrates, using innovation and technology as enablers. Its principal asset is the Tharisa Mine located in the south-western limb of the Bushveld Complex, South Africa.

Founded in 2012 by Pâris Mouratoglou and David Corchia, Total Eren develops, finances, builds and operates renewable energy power plants (solar, wind, hydro) representing a gross capacity of more than 3,500 MW in operation or under construction worldwide. www.total-eren.com