African-based Chariot and its business arm Chariot Transitional Power will be working alongside French renewables firm Total Eren to develop a solar and wind power project for First Quantum Minerals’ operations in Zambia.
Chariot said it has inked the partnership with the other companies for a 430-megawatt flagship project that will “complement and expand Zambia’s existing renewable energy capacity” and give First Quantum competitive, sustainable power for its portfolio in the country.
It also will underscore FQM’s commitment to decarbonisation as part of its target to reduce its carbon footprint by 30% by 2025, the companies said.
Construction is set to begin in 2023. No further timeline was made available, and no financial details were disclosed.
“The project will offer significant benefits to Zambia, by unlocking some of its world-class renewable potential [and] it will help the country realise some of its untapped solar and wind resources by attracting large-scale foreign investment and adding significant renewable energy capacity,” FQM Kansanshi mine general manager Anthony Mukutuma said.
“In line with Zambia’s Vision 2030, the project will further contribute to improving Zambia’s energy-mix, reducing expensive regional power imports and exposure to fuel prices.”
Zambia, Africa’s second-biggest copper producer, has been dealing with drought – which has led to a severe shortage of energy from its 3,000-megawatt hydroelectric power grid, according to a recent Bloomberg report.