French renewable energy independent power producer, Total Eren, and Chariot Transitional Power, a division of Chariot Limited have partnered to develop 430 MW of solar and wind power projects for the Zambian mining operations of First Quantum Minerals (FQM).
The renewable energy projects are expected to complement and expand Zambia’s existing renewable energy capacity, and will provide FQM with competitive and sustainable power for its Zambian mining operations, delivering on FQM’s commitment to decarbonisation as it seeks to reduce its carbon footprint by 30% by 2025, and underline its responsible mining credentials.
“We are very excited to be partnering with FQM and Total Eren on this ground-breaking 430 MW project in Zambia. This project further demonstrates Chariot’s commitment to assisting mining companies in Africa transition to renewable energy sources for their operations, with Zambia having an abundance of wind and solar potential,” said Laurent Coche, Chariot Transitional Power Executive Director.
The renewable energy projects will be developed under a build-own-operate-transfer (BOOT) model at an estimated cost of US$500 million. Construction of the projects is expected to commence next year. The two companies will be responsible for financing of the projects.
A 230MW solar energy facility will be built and supply power to FQM’s Kansanshi mine, whilst a 200MW wind farm will supply power to FQM’s Sentinel mine.
“Together with our partner Chariot, we are pleased to bring our global expertise in solar and wind generation to power FQM’s operations. The combined solar and wind capacity will offer strong complementarity and power generation around the clock, with solar produced during the day and wind mainly at night,” said Fabienne Demol, EVP and Global Head of Business Development at Total Eren.
“The project also represents a natural fit with Zambia’s hydropower resource seasonality; the project’s energy mix reaches its production peak during the dry season when the country is most exposed to droughts. Increasing the share of renewables will improve the country’s carbon footprint and address current and future challenges related to climate change,” Demol added.
FQM’s Kansanshi Mine General Manager Anthony Mukutuma, celebrated the deal saying; “The project will offer significant benefits to Zambia, by unlocking some of its world-class renewable potential. 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. 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.
