Friday, July 12, 2024

Tlou Energy to ease regional power blackouts

Tlou Energy, the tri-listed energy miner, has said it is making headways at its power plant project in Western of Sandveild.

The project is aimed at resolving power blackouts both in Botswana and the southern African region.

Tlou Energy is listed on the Australian Stock Exchange, the Alternative Investment Markets (AIM) in United Kingdom and the Botswana Stock Exchange.

“The company is working on bringing the Lesedi 10MW gas to power project into production as soon as possible subject to available funding.

“Tlou plans to rapidly expand to 25 MW and beyond,” the company said in its latest report.

“The project is in development including construction of transmission line, substation as well the field operation facility and generation site,” it said.

The Lesedi project 10MW project will be connected to Botswana Power Corporation (BPC) national grid- under the power purchase agreement (PPA)—and it is expected rolling in about P 130 million per annum into the pockets of Tlou Energy.

“Work is continuing a purpose built operation facility for the initial 10MW development and allow for rapid project thereafter,” the company said.

The power plant is expected to be completed by April this year.

The company further said its 100 km transmission line from its mine to Serowe- where it will be connecting to the national grid– is progressing well. The transmission line expected to be complete by end of this month.

Tlou Energy holds number of exploration licences in the area which include the Mamba and Boomslang projects.

The Mamba Project is close to Lesedi and will supplement Lesedi project.

“In the event of gas development by Tlou Energy the Mamba area provides the company with flexibility and optionality,” it said.

Tlou Energy is one of the two companies that have Power Purchase Agreements (PPA) with the Botswana Power Corporation (BPC). The other one is Jindal which is warming up to build 300 MW coal generated power station at Mmababula. This brings the number of power focused companies to four- including Morupole and MinEnergy at Medie near Lentsweletau.

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