LONDON (Alliance News) - Tlou Energy Ltd said Wednesday it has submitted its response to the request for proposal from Botswana's Ministry of Resources, Green Technology & Energy Security for the development of 100 megawatts in pilot power plants.
Initial development of up to 10 megawatts is planned, starting with the first two megawatts of power that can be expanded as further drilling is conducted and more gas becomes available.
Tlou will look to connect the Lesedi coal bed methane project to the local power grid, and intends to make the connection at the town of Serowe, 100 kilometres away from Lesedi.
"We are delighted the re-submission of the tender has been completed and look forward to a response from the Ministry. We have detailed what we believe is a very compelling and robust proposal. If successful this project can help start a new CBM industry in Botswana, create further employment, provide a much-needed local clean power source, and bring a return for Tlou investors," said Managing Director Tony Gilby.
Shares in Tlou Energy were up 6.4% at 6.33 pence on Wednesday.
Tlou Energy (TLOU)