Tlou Announces Development Partner for CBM to Power Project

Source: www.gulfoilandgas.com 2/27/2017, Location: Africa

Tlou Energy Limited, the AIM and ASX listed company focused on delivering power in Botswana and southern Africa through the development of coal bed methane (CBM), has signed a binding Heads of Agreement (Agreement) with Independent Power Corporation PLC (IPC) to jointly develop Tlou’s proposed (up to) 100 MW CBM to power project (IPP Project).

As announced on the ASX and AIM markets on 10 January 2017, Tlou has received a request for proposal (RFP Tender) to tender for and develop a CBM power plant of up to 100 MW at the Lesedi CBM Project. The application process involved approval by Botswana’s Government Cabinet, following which it was reviewed by the Public Procurement and Asset Disposal Board and then the receipt of the request for proposal from the Ministry of Mineral Resources, Green Technology and Energy Security (MMRGTES).

Under the Agreement with IPC, Tlou and IPC will jointly finalise work on a detailed proposal for submission to MMRGTES for the supply of CBM power in modular stages, including negotiations with various third parties on the terms of an offtake agreement, network access and project funding. The IPP Project will be supplied with gas from Tlou’s Lesedi CBM Project in Botswana.

Tlou Managing Director Mr Tony Gilby, said “Tlou is strengthening its position as the leading gas to power company in Botswana with the announcement of IPC as our preferred development partner. IPC brings power generation experience and funding partners to the project that significantly enhances its viability. With an expanding gas reserves base, environmental approval for the upstream component of the proposed development and now a power development partner, we are in a very strong position. We look forward to working with IPC to bring the commercialisation of the Company’s gas reserves to fruition for the benefit of Botswana and our shareholders”.

For more information about related Opportunities and Key Players visit West Africa Projects


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