eBusiness Weekly
Nelson Gahadza
Africa-focused transitional energy company Chariot Energy in partnership with Total Eren, a leading renewable energy Independent Power Producer (IPP) based in France is set to construct a US$40 million 30MW solar plant that will provide electricity for the Karo Platinum Project.
The Karo project is an upcoming Tier 1 Platinum Group Metals (PGMs) mining operation situated on the Great Dyke of Zimbabwe which has already commenced works with first production targeted for July 2024.
Chariot chief executive, Adonis Pouroulis told Business Weekly, on the sidelines of commencement of works ceremony at Karo Resources mine, the 30 MW plant is the first phase of a potential 300MW expansion over time as the mine and communities need more power.
“It is fundamental that we bring in cheaper and more environmentally friendly energy power that is sustainable.
“We will be doing as Chariot and Total Energy building as phase one a 30 MW plant near the Karo mine and that will help supply the mine’s energy requirements,” he said.
He noted that while the company is focusing on solar, there is also potential for wind energy that will provide the cheapest and cleanest energy to Karo Resources.
“We are looking at an estimated cost of US$1 million per megawatt, so we are looking at a total cost of between US$30 to US$40 million to do the 30MW.
“The project will be completed before the mine starts processing by July 2024 when the first concentrate will come into the plant, so we are looking at the next 20 months,” he said.
Total Eren and Karo Mining Holdings have previously signed a Memorandum of Understanding (MoU) as the first step towards the implementation and signing of a long-term Power Purchase Agreement (PPA) for the supply of electricity.
In a joint statement, Total Eren and Chariot said under the partnership entered into in November 2021, the parties agreed to work together on the development, financing, construction, and operation of the solar photovoltaic (PV) project.
Fabienne Demol, Executive Vice-President & Global Head of Business Development of Total Eren said the solar project will enable the Karo Platinum Mine to be supplied with low-carbon electricity during its operating life, therefore reducing its carbon footprint and generating a competitive source of electricity supply in Zimbabwe.
“I look forward to delivering this solar project and wish to start even more renewable energy projects in this country where our strategic shareholder, TotalEnergies, holds a strong footprint,” he said.
Bernard Pryor, managing director for Karo Mining Holdings said as part of the group’s sustainable development plan, green power was always placed at the forefront of its energy strategy.
“Land designated to develop this type of power strategy has been allocated, close to the Karo Mine but also mindful of a broader power strategy that we will develop with our partners and the government of Zimbabwe, to ensure stable and lasting green energy benefitting all our stakeholders and beyond,” he said.
Total Eren, founded in 2012 by Pâris Mouratoglou and David Corchia, develops, finances, builds and operates renewable energy power plants (solar, wind, hydro) representing a gross capacity of more than 3,700 MW in operation or under construction worldwide.
Through partnerships with local developers, Total Eren is currently developing numerous energy projects in countries and regions where renewable energy represents an economically viable response to growing energy demand such as in Europe, in Central and South Asia, in Asia Pacific, in Latin America and in Africa.
