Tlou Energy Ltd Request for Proposal received (7388T)
January 10 2017 - 2:00AM
UK Regulatory
TIDMTLOU
RNS Number : 7388T
Tlou Energy Ltd
10 January 2017
10 January 2017
Tlou Energy Limited
('Tlou' or 'the Company')
REQUEST FOR PROPOSAL RECEIVED FROM BOTSWANA GOVERNMENT FOR UP TO
100MW OF CBM
Tlou Energy Limited, an AIM and ASX listed company focused on
delivering power in Botswana and Southern Africa through the
development of coal bed methane ('CBM') at its Lesedi CBM project,
is pleased to announce it has received a detailed Request for
Proposal ("RFP") from the Government of Botswana to develop up to
100MW of CBM power in Botswana.
HIGHLIGHTS
-- Tlou receives request for proposal from Botswanan Government
to provide up to 100MW of CBM power from its Lesedi project
-- Follows Government of Botswana's announcement in June 2016
that the delivery of 100MW of CBM power be incorporated into its
future generation supply plans
-- Tlou owns 100% of the most advanced CBM project in Botswana -
achieved first independently certified CBM gas reserves and
Environmental Impact Statement approval in 2016
-- Field development plan currently being worked on to progress
a scalable CBM to power plant at Lesedi
Tlou's Managing Director Tony Gilby said, "We are pleased to
receive the RFP from the Botswana Government and look forward to
providing them with a detailed, compelling and compliant tender for
our pilot power generation project at Lesedi.
"This is the next step in the path to a binding offtake
agreement and is testament to the fact that the Botswana Government
remains committed to see CBM power projects developed in Botswana
so that CBM can become a long term indigenous source of cleaner
energy for the country. Lesedi is a scalable project and being the
first company in Botswana to achieve independently certified CBM
gas reserves in 2016 as well as the first to receive Environmental
Impact Statement approval we are clearly well placed to deliver on
our objectives. We look forward to updating the market in due
course as we make progress towards fulfilling our vision to become
a significant provider of energy in Botswana and the wider
region."
Request for Proposal for CBM Power Project
Tlou has received a Request for Proposal from the Government of
Botswana for the development of up to 100MW of power using CBM.
This indicates the Government's commitment to facilitate the
development of a CBM industry in Botswana. The proposed Government
power purchase agreement ("PPA") will assist in fast-tracking the
development of the gas industry in the country and creates a new
market for Tlou's independently-certified gas reserves and
significant contingent gas resources of 3.3 trillion cubic feet
(3C).
As previously announced in July 2016, Tlou is one of two
companies selected to bid for the development of up to 100MW of
power using CBM in Botswana as an Independent Power Producer. The
Company has now received a detailed Request for Proposal ("RFP")
from the Ministry of Mineral Resources, Green Technology and Energy
Security. The closing date for this tender is 12 July 2017. The RFP
requires details of the proposed field development, the
installation of power generation facilities and supply of power
into the grid in Botswana.
The Botswana Government has developed this initiative to allow
companies such as Tlou to develop pilot plants and facilitate the
development of their CBM resource to levels which may lead to the
supply of gas to the Government owned 90MW Orapa Power Plant, which
is situated approximately 150km to the north of Tlou's Lesedi CBM
Project.
It is a requirement of the RFP that all matters are kept
confidential. However, the Company will update the market where
possible and specifically in relation to completion and submission
of the required documentation.
Tony Gilby
Managing Director
Tlou Energy Limited
Website: www.tlouenergy.com
For further information regarding this announcement please
contact:
Tony Gilby Solomon Rowland
Managing Director Company Secretary
Email: info@tlouenergy.com Email: info@tlouenergy.com
Company Information
Tlou Energy is an AIM and ASX listed company focused on
delivering power in Botswana through the development of coal bed
methane ('CBM') projects. Botswana has a severe energy shortage and
is currently relying on expensive imported power and diesel
generation to deliver its requirements. However, as the 100% owners
of the most advanced gas project in the country, the Lesedi CBM
Project ('Lesedi'), Tlou Energy provides investors with access to a
compelling immediate and longer term opportunity using domestic gas
to produce power and displace the expensive diesel and import
market.
The Company is led by an experienced Board, management and
advisory team including individuals with successful track records
in the Australian CBM industry.
Since establishment in 2009 the Company has significantly
de-risked the project in consideration of its goal to become a
significant gas to power producer. The Company has the most
advanced CBM project in Botswana and flared its first gas in 2014.
It holds 10 prospecting licences covering an area of 8,300Km(2) and
the Lesedi project already benefits from significant, independently
certified contingent resources of 3.3 trillion cubic feet (3C). In
October 2016, the Company booked its maiden independently certified
gas reserves, thereby becoming the first company in Botswana to do
so.
The Company is planning an initial scalable gas-to-power project
in Botswana. Following successful implementation of this first
scalable project, the Company plans to expand in order to provide
further power to Botswana and the southern African region.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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