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LONDON (Alliance News) - Tlou Energy Ltd on Monday said it now has written confirmation from the government of Botswana that its has been selected as a preferred bidder for a coal bed methane plant.
Shares in the gas-to-power company jumped 30% to 9.00 pence in afternoon trade.
On Wednesday last week, the company noted it has been approved for talks regarding its tender to develop a maximum 100 megawatt coal bet methane fuelled power plant in Botswana. Tlou will work with the government to finalise the agreements.
Tlou Managing Director Tony Gilby said: "The approval of the company's tender represents great progress for Tlou. The proposal that we submitted was very competitive and we welcome this decision by the government. We look forward to working together to deliver a successful power project."
"The company will now progress with additional work on the ground to deliver a gas-to-power solution that can bring significant benefits to the country and to our shareholders. I look forward to updating the market as we continue to develop the project," Gilby added.