Chariot Oil and Gas and the Mauritanian Ministry of Petroleum, Mines and Energy have signed a Memorandum of Understanding (MoU) for the development of a green hydrogen project with a capacity of up to 10 GW and the ability to create the cheapest green hydrogen in Africa.
The project (Project Noor) is expected to cost up to $3.5 billion and will cover a 14,400km2 exclusive onshore and offshore area for Chariot to conduct pre-feasibility and feasibility studies to generate solar and wind energy for use in the electrolysis process for green hydrogen production.
At the proposed project site, Chariot plans to deploy its in-house team to begin assessing the wind and solar resources, environmental effects, and macroeconomic and social impact studies.
The Mauritanian Minister of Petroleum, Mines and Energy, Abdessalam Oul Mohamed Saleh, said: “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.”
“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,” he added.
The acting CEO of Chariot, Adonis Pouroulis, commented: “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.”
“This is a potential large new market, set to bring multiple benefits to all parties and deliver positive impact to Mauritania,” he added.
