Hydrogen is a key component of the energy transition with huge market growth potential
Chariot’s green hydrogen project, “Project Nour”, spans two onshore areas totalling approx. 5,000km², across northern Mauritania; a location that takes advantage of the wide scale wind and solar potential, important for large-scale renewable energy generation and low-cost hydrogen production.
Project Nour also benefits from geographical proximity to Nouadhibou (Mauritania’s deep-sea port) and to large European markets, with the potential to make Mauritania one of the world’s main producers and exporters of green hydrogen.
Chariot is working in partnership with the Government of Mauritania to support their ambition to become a leading producer and exporter of green hydrogen, the latter strengthened through the MoU signed with the Port of Rotterdam in April 2022, which was a first step in establishing supply chains to enable the sale of green hydrogen and its derivative products (notably ammonia) into Europe.
Project Nour has the ability to create a range of positive impacts through socio-economic development in Mauritania through increased investment, job creation, skill development and increased government revenues, and its world class potential was verified by the Pre-Feasibility Study (“PFS”), as announced in May 2022. A Framework Agreement is now in place which defines the terms and guiding principles to pave the way for the in-depth feasibility study that will be undertaken over the next 24 months and a partnering process is underway with the objective of forming a world class consortium to further develop the project.
Green Hydrogen Market
Green hydrogen is predicted to play a vital role in the global energy transition.
The results of the PFS show the potential scale of Project Nour, with up to 10GW of installed electrolysis to produce green hydrogen and green ammonia, Project Nour could become one of the largest global projects of its kind by 2030.
“We are very pleased that the PFS has confirmed the world class potential of Project Nour, both in its unique capacity to generate green hydrogen and for the broader development opportunities that it could bring to Mauritania. It is exciting to be looking to harness our natural resources in this way and Chariot has our full support as they progress this through the detailed feasibility studies.”
H.E. Minister Abdessalam Ould Mohamed Saleh
Mauritania’s Ministry of Petroleum, Mines & Energy
The PFS for Project Nour, completed in 2022, confirmed the project’s ability to produce some of the cheapest green hydrogen in the world:
- Unique and complementary wind and solar conditions, underpinning attractive project economics
- Possibility of production of competitive green ammonia for export
- Partnering process underway with the objective to form a world-class consortium
Chariot recently signed a Framework Agreement with the Government of Mauritania, paving the way for the in-depth feasibility study that will seek to confirm the potential for installing up to 10GW of electrolyser capacity.
SIGNIFICANT DOMESTIC VALUE FOR THE COUNTRY OF MAURITANIA
- Providing baseload power to the national grid
- Diversifying industrial activities (e.g., green steel)
- Developing local infrastructure with the potential to have a significant impact on GDP
- Potential to create a range of jobs
- Increase access to clean water for both residential and industrial use