London-based energy firm, Chariot, has signed a Memorandum of Understanding (MoU) with Mauritania’s Ministry of Petroleum, Mines and Energy for the development of a green hydrogen project of up to 10 GW with the potential to produce the cheapest green hydrogen in Africa.
Announced on 27 September, Project Noor is estimated to cost up to $3.5 billion and will cover an exclusive on- and offshore area totaling approximately 14,400km2 for Chariot to conduct pre-feasibility and feasibility studies with the intention of generating solar and wind energy for use in the electrolysis process for green hydrogen production.
Chariot intends to deploy its in-house team to begin the assessment of wind and solar resources, environmental impact, and macroeconomic and social impact studies at the proposed project site. The Africa-focused energy company aims to take advantage of the west African country’s solar and wind resources, as well as its proximity to large European markets to enable Project Noor to become the largest green hydrogen production and export endeavor in Africa.
“Our country seeks to secure a leading position on the global map of the green hydrogen economy in the coming decades due to its potentials, which include in particular: abundant solar and wnd energy, vast desert areas, the proximity to the waters of the Atlantic Ocean, in addition to its distinguished geographical location, close to European and American markets,” stated Mauritanian Energy Minister, Abdessalam Oul Mohamed Saleh on the ministry’s website.
“I am very excited by the announcement of this agreement with the goal of quickly realizing the potential of green hydrogen. In Mauritania, Chariot has a history of previous significant investments and bringing in world-class partners to projects, and we are looking forward to working with the Government of Mauritania again to fast-track Project Nour,” Acting CEO of Chariot, Adonis Pouroulis commented, adding, “This is a potential large new market, set to bring multiple benefits to all parties and deliver positive impact to Mauritania.”
“The development of a green hydrogen industry in Mauritania promises to bring a combination of environmental, economic, and social benefits to our country. We have the potential and the will, to be a world leader in the production of hydrogen from renewable energy sources.” concluded Minister Saleh.
Chariot has indicated its intention sign a partner and form a ‘world-class consortium’ for the project.
In response to growing demand for renewable power, and increasing interest by international stakeholders to invest, develop, and succeed in Africa, Energy Capital & Power will hold the MSGBC Oil, Gas, & Power 2021 conference and exhibition on the 2-3 December 2021. Focused on enhancing regional partnerships, spurring investment and development in the oil, gas and power sectors, the conference will unite regional international stakeholders with African opportunities, serving as a growth-oriented platform for Africa’s energy sector.