Chariot, Mauritania sign MoU for prospective 10-GW green hydrogen project
- African-focused energy firm Chariot Ltd (LON: CHAR) and also Mauritania's Ministry of Petroleum, Mines as well as Energy have actually authorized a memorandum of understanding (MoU) for a green hydrogen project of approximately 10 GW in the northwestern African country, the parties revealed on Monday.
Project Nour is approximated to stand for a financial investment of up to USD 3.5 billion (EUR 3bn). It aims to take advantage of Mauritania's solar and wind sources and its proximity to huge European markets.
Chariot said the project has actually been given exclusivity over an onshore as well as offshore area of a total of 14,400 sq km (5,560 sq m) to carry out pre-feasibility and also usefulness studies. The business will certainly look for to develop a "first-rate consortium" for the venture.
"Our country seeks to protect a leading placement on the global map of the green hydrogen economic situation in the coming years because of its possibilities, which include in particular: abundant solar and wind energy, vast desert locations, the distance to the waters of the Atlantic Ocean, in addition to its recognized geographical place, near to European and also American markets," energy minister Abdessalam Ould Mohamed Saleh in a declaration on the ministry's site.
Previously this year, Mauritania also authorized a MoU for a huge green hydrogen project with CWP Global.
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