Chariot Ltd (AIM:CHAR, OTC:OIGLF) and the government of Mauritania have announced that the pre-feasibility study for the Project Nour green hydrogen project has been completed and a framework agreement has been signed that maps out the phases of development over the coming 24 months. The project aims to install up to 10 gigawatts (GW) of electrolysis, making it one of the largest green hydrogen projects globally by 2030, the two parties said. The pre-feasibility study has "underlined our belief in the economics and scale of this asset", said Chariot's acting chief executive Adonis Pouroulis, who is leading a partnering process to form a "world class consortium" to develop the proiect. In a statement, the pair said Nour benefits from attractive economics thanks to Mauritania's "unique and complementary wind and solar conditions", while Mauritania's geographic position on the northwest coast of Africa could make the country "one of the world's main producers and exporters of green hydrogen and its by-products". Chariot recently signed a partnership agreement with the Port of Rotterdam for sales of green hydrogen and its derivative products into Europe. Mauritania's petroleum, mines & energy minister Abdessalam Ould Mohamed Saleh said: "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. He added: "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."
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