- Chariot Oil & Gas with interests in Brazil, Morocco and Namibia, will diversify into renewables targeting the mining sector in Africa through the acquisition of Africa Energy Management Platform (AEMP).
- AEMP, in partnership with Total Eren/Total SA, is eyeing a 500MW project pipeline with mine operators in Africa.
- The deal, which was announced earlier this week, carries a consideration of up to US$2 million for the purchase.
AEMP is a renewable and hybrid energy project developer, with an ongoing strategic partnership with Total Eren, a leading global player in renewable energy, predominantly in solar and wind. Total S.A., the French multinational energy company, has a shareholding of about 30% (directly and indirectly) in Total Eren. AEMP and Total Eren are looking to provide clean, sustainable, and more competitive energy to operational mines in Africa, which represents a giant, largely untapped market in which Chariot’s management has numerous high-level contacts.
“The last nine months has been a busy and transformational period for Chariot under its new management team and over the coming period we will continue to look for other energy transition ventures which will further complement and build upon the high value projects we are currently looking to fast-track, ” commented Adonis Pouroulis, Acting CEO of Chariot.
Author: Bryan Groenendaal
