Friday, July 12, 2024

Botala Energy sets eyes on BSE as it push plans to build power plant

Botala Energy, the Australian Stock Exchange unveiled its ambitious plan to deepen its roots in Botswana that includes floating securities on the Botswana Stock Exchange and setting up a state of art plant to build solar panels.

The company is foraging coal seems that can produce natural gas that can be converted to electricity. It is also looking for coal that is has rich silicon to produce solar panels.

“We want to produce CBM (Coal Bed Methane) and use it to generate reliable and affordable electricity, to supplement that solar generated electricity we proposed to develop in Serowe and proposed Leupane Energy Hub and Industrial Park.

‘We also plan to build solar panel manufacturing plant,” the company told the Sunday Standard.

Leupane is six kilometers shy-off from Palapye- from the A1 road.

“Yes, we are listed on the ASX and we plan to list on BSE,” it added.

Last Monday, Chief Executive of the company Kris Martinick exalted the new drilling results saying “It is pleasing to have results which extend our understanding of the three coal seems and provide confidence to [plan for the potential second flow-testing well at Serowe -7. The increased visible evidence of gas starting to breakout at Serowe -3 well is very encouraging.

“We expect the flow to continue to increase as dewatering nears the top of the coal,” he added.

Botala Energy is following on the foot-steps of Tlou Energy which is in the process of connecting its gas-fired energy to the Botswana Power Corporation’s national grid at Serowe.

State owned Morupule Colliery in Palapye is the oldest coal mine in the country. Minergy has one in the Masama coalfields while Jindal- the Indian mining giant is planning to open a mine at Maphasalala where it is building a 300 MW power plant and some will be for export. Botswana has over 200 million tonnes of coal.

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