LONDON (ShareCast) - (Sharecast News) - Transitional energy group Chariot said on Friday that it and French renewable energy power producer Total Eren had inked a memorandum of understanding with platinum group metals and chrome producer Tharisa.
The deal will see Chariot and Total work together to develop, finance, construct, own, operate, and maintain a solar photovoltaic project for the supply of electricity to Tharisa's mine in the North West Province of South Africa.

Chariot stated the solar photovoltaic project was initially anticipated to have a 40-megawatt peak, with demand expected to increase over the life of the mine and added the memorandum of understanding was just the first step towards implementation of the project and the signing of a long-term power purchase agreement.

Chief executive Benoit Garrivier said: "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."

As of 0905 GMT, Chariot shares were down 1.36% at 9.53p.

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