Petroleum Africa
Find us on: 
Wednesday, March 24, 2021
Chariot Oil & Gas announced that it has signed share purchase agreements (SPAs) for the acquisition of the business of Africa Energy Management Platform (AEMP) for consideration of up to $2 million payable primarily in Chariot Ordinary Shares, representing up to c.4% of Chariot’s enlarged share capital.
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, 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. Transaction highlights include:
Pipeline of 500MW of African Mining Power Projects:
Strategic Partnership with Total Eren:
Experienced Team:
ESG & Positive Impact:
Name Change:
Fabienne Demol, Executive Vice-President & Global Head of Business Development at Total Eren, commented: “Total Eren warmly welcomes Chariot into this strategic partnership. We believe the combination of AEMP’s experienced team with Chariot’s wide reach to the African mining industry will bring further value accretive opportunities to our collaboration. Together, we are determined to address mining companies’ energy needs and provide them with clean and competitive renewable energy solutions, even in remote areas.”
Benoit Garrivier, Co-Founder of AEMP, commented: “’I am very excited about joining the Chariot family. Teaming up with Chariot’s highly experienced management will allow us to take our partnership with Total Eren to the next level. Building on our award-winning Essakane solar project, we look forward to growing our pipeline of projects to transform the energy market for mining. This is a fantastic opportunity to create an innovative transitional energy group focused on Africa and support our clients in their move towards green energy and reduction of their carbon footprint.’
Adonis Pouroulis, Acting CEO of Chariot, commented: “’I am delighted to announce the acquisition of AEMP. We believe this move will provide Chariot with numerous further valuable, exciting and scalable projects that complement and build on our value accretive Transitional Gas project in Morocco. The acquisition also plays to Chariot’s and its managements’ significant experience and other business interests within the mining sector in Africa. We are already well advanced in adding to the project pipeline and we look to forward to announcing these when appropriate. This is clearly a 1+1=3 type transaction for all parties.
“We welcome Benoit, Laurent, and their team into the Chariot family, and we thank Total Eren for their strong support of this transaction. The strategic partnership with Total Eren is a highly valuable relationship, that we will look to strengthen and grow over the coming years.
“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.”
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
