Scatec, meanwhile, has already secured funding for the first 60MW from Rand Merchant Bank in Botswana and the World Bank's International Finance Corporation. Finance for the expanded generation will be through non-recourse debt and equity from Scatec, officials said.
“As we reach another milestone in our renewable energy journey in Botswana, we are now looking forward to starting construction of the largest solar project in the country,” said Scatec CEO, Terje Pilskog in a statement. “By doubling the total capacity of the solar power plant, we demonstrate the effectiveness of our strategy, robust business model, and drive to contribute to the green energy transition in Africa.”
Scatec estimates that the solar power plant will ensure that approximately 48,000 tonnes of CO2 emissions will be avoided and power provided to about 20,000 households annually.
Scatec is one of the world’s biggest solar and renewable energy developers, with large-scale projects that include a R16 billion plant in South Africa due to have a capacity of 540MW. In Africa, the group also has projects in Lesotho, Egypt, Uganda, Mozambique, Rwanda, and Tunisia.
Ministry and BPC previously doubled coal-fired plant from 300MW to 600MW PPA. Now below they just doubled solar PPA from 60MW to 120MW. Yet CBM are fannying around with 2, 6 or 10 measly megawatts - another sign the locals are not convinced on CBM feedstock.
A catec ASA, the Norwegian firm that scooped a contract to build the country’s largest renewable energy plant to date, says government has doubled the deal to 120MW, with capital costs estimated at $104 million (P1.4bn).
The original 60MW plant, to be built between Selebi-Phikwe and Mmadinare by June 2024, was the largest renewable procurement signed off by government. Government and Scatec officials signed a binding 25-year Power Purchase Agreement (PPA) in August 2022 in Gaborone.
Under the deal, Scatec will finance, develop, and operate the solar power station, with the Botswana Power Corporation purchasing the generation.
This week, Scatec officials revealed that government had requested additional generation capacity.
“In the third quarter 2023, Scatec was awarded a 60MW expansion to the project, taking the total capacity to 120MW,” officials stated in an update.
The increase in requested generation awarded to Scatec mirrors the arrangement government sealed in July with Indian mega-firm, Jindal, for the doubling of a coal-fired power project to 600MW. At the time, Minerals and Energy minister, Lefoko Moagi, told this publication that government had been revising its Integrated Resource Plan and had noted an opportunity to go for the 600MW rather than the 300MW, given Jindal’s proven capacity in such projects.
He said since the procurement had already been done for the 300MW, the ministry had gone to Cabinet to seek an additional 300MW so that “it ties into the procurement that’s already there, going straight to Jindal rather than another procurement process”. With global funding of coal drying up, Moagi said government saw an opportunity to tap into the available funding and build a larger project.
Share price was 0.8 pence at the onset of covid in March 2020. And closed 2023 at 1.6 pence - along with substantial dilution over this period.
4) We are in the works for a Joint venture in Botswana, JC knows this is the part we need most.
Why dont. they do a deal with Tsodilo Res in Botswana for their BK16 kimberlite then.
But it is still hard to get away from reality that diamonds are not commodity flavour of the month. Not helped by Govt Bots and DeBeers continually sniping at each other for changes in the profit share distribution. It would not surprise me if the BDP talk tough towards DeBeers through 2024 ahead of Elections in October 2024 - nothing in that to calm or improve the market i reckon.
Like seriously TB - I think you really need to try something more original.
Https://www.mmegi.bw/features/govts-big-plans-for-a-railway-revolution/news
Copper gets a mention (Iron ore also - where is that deposit(s) i wonder. These types of infrastructure are vitally important if Botswana is ever to develop into a significant market economy / opportunity. Long way to go sadly.
Well if i have to read rubbish here incessantly, then I am going to start posting again - Brad's recent posts are a continum of rubbish he has been posting for 5 years now. This time last year for example:
" Back on topic, TLOU have confirmed that the market price is indeed what the company is worth - SFA! To discount a 2p price is criminal imho!
As I have said, long before my face turned blue, the price is realistically 5p+ and just because a few idiots are accepting less than 2p , that price is irrelevant! TG has contradicted me completely! Given we took 3.5p from Stephen Hemsley et al in the UK and the Pension fund in Botswana; it made sense that the Doc could buy at 3.5p in Australia.
I always blamed TG for reducing the price below 5p+ by placing non-option shares at 3.5p but it brought in urgently required funds quickly. AND WITHOUT OPTIONS 3.5p was reasonable. Covid screwed all our plans , so my faith in Tony stood firm!
Did we need to raise money urgently now? Poles and wires have enough funds to take us well into 2023! "
Makes me laugh tbh. He criticises TG when I am not around, then when I reappear and point that out - he is back to being TG fanboy.
Anyway, Brad ramblings apart - i cannot wait to see how this current fundraising turns out. Hopefully it is successful.
Blind faith - i rest my case ! Obvious to everyone except ......
Https://www.mmegi.bw/business/mdcb-targets-1bn-investment-portfolio-by-2028/news
MBCB are the investment arm of Govt of Botswana. They have been very quiet in recent years investing in companies and projects relevant to Botswana - I think largely because the Govt has been pretty broke (raided during the Khama years, then covid years, and slowly picking up now). But if they have money to invest, and KAV can show exciting copper resources / reserves, this is a door KAV can knock on cap in hand. There is also the Botswana Public Officers Pension Fund (BPOPF) who could invest directly in KAV or one of their many Asset Managers could allocate some of their BPOPF portfolio to KAV.
BPOPF recent commentary:
https://www.mmegi.bw/features/inside-bpopfs-plans-as-billions-drift-back-home/news
But Ben and team needs to demonstrate copper showings first.
I totally agree Terrafin. He allowed the PR to be released saying how 2023 was set to be a banner or transformational year for SRES. That has not happened - so it is only right and proper that the MD/CEO of the company explains the delays and problems and provides some much more clear and precise thinking how 2024 will see the company progress. .
Slinking out of 2023 and slithering into 2024 is likely what he wants to do - we must not allow this to happen !!
You guys bite each and every single time. 75 per cent of the posts here are criticising me - that says either you guys simply cannot stop yourselves reacting OR there is nothing to talk about re Tlou (that hasn't been posted multiple times already by you) OR ........ (you fill in the blanks).
It is blind faith for Brad - he has said hundreds of times in Tony he trusts. It doesnt matter what TG says - Brad finds a way to polish it so he can maintain his faith. TG has lost control of his company - Fact ! And i dont care if Free comes back to argue otherwise. Yes, TG has a unique position here as a major shareholder, the gas guru that knows how to drill and raise money and sell a story. Project delivery is a new skill set for him and I imagine one he wished he never had to experience.
As for the rest - perhaps just appreciate me for the wonderful warm hearted soul i am. All i really want to do here is post links that i think have some relevance to CBM development in Botswana. Sometimes they are very relevant; often they are not - but jeez all of them a lot more interesting than reading Brad jack-a-nories (which all should be reported for misuse of a Message board rules).
Thanks poppets xxx
After your abuse TB, from my point of view - you are not worth the effort. If we agree there is a dearth of meaningful in size institutional shareholders amongst AIM holders, then it is easy enough (reading AIM rules) to figure out why the effort to include AIM in this raise was excluded.
But as I said, or implied earlier, this fund raise only works if the Doc and Pension Fund take up their rights. Now i dont think it is unreasonable for us to assume both have said they will support the raise. That conversation probably easier to have with the Doc - the Pension Fund would be much more formal.
Govt or Ministry didnt take up their 15 percent entitlement when the mining licence was issued. Might they be keen to take it up now? Using MDCB as the investing entity perhaps.... All conjecture of course - personally i doubt this option will happen.
What imo is the real potential kicker here is whether or not the Pension Fund are minded to take up lots more than their normal entitlement. For me, that would be a cracking good sign of better things to come.
Try and catch up TB; it is sad realising you really have as much clue about what goes on her as Brad does.
Good lord, winni has a sense of humour. He hide that well.....
Sorry lads - you AIM comments about fund raising are only partially correct. They could have tried their luck there again but probably decided it wasn't worth the effort for the likely reward. Not many sophisticated investors lurking here for sure; more just a bunch of punters desperate for their luck to turn after years of frustration. But i dont need to tell anyone here to keep the faith - actually i never participated on a message board where the regulars had so much blind faith.
Still, all good things come to those who wait. Or you die and then it doesnt much matter.
Pension Fund might be persuaded / inclined to take up more rights than their normal entitlement - first link discusses repatriation of overseas funds back home for inward investment:
https://www.mmegi.bw/features/inside-bpopfs-plans-as-billions-drift-back-home/news
Second link potentially far more exciting. If MDCB came on board, that would be a major sign that Govt and Ministry are well and truly behind Tlou and CBM - and we can all be the best of buddies.
https://www.mmegi.bw/business/mdcb-targets-1bn-investment-portfolio-by-2028/news
So the herd's latest point of attack on me is I am a 'paid influencer'. Paid to influence exactly what ? The price is alreasy in the dungeon and it isnt actually possible to short Tlou as far as I am aware. Unless perhaps maybe one is a major shareholder intent on driving the price to even closer to zero, then making a bid to buy the company. Trust me, I am neither that rich or stupid to think that is even a remote strategy.
I couldnt care less about 'saving' any of you guys. I am however allowed to post MY thoughts and MY opinions on Tlou and any other company i chose to, so why are you so keen to try discredit and shut me down. I guess you cannot accept that I am the only person here who has been bearish about this stock and found to be correct. You guys blah blah blah about the same old, same old for the past 5 plus years and you are all worse off now than you were back then. That isnt my fault; that is the reality of your investment. And it amuses me no end that none of, absolutely not one of you, can come to terms that I was right when warning about the dangers of investing in Tlou back then. Instead, you pathetically try to cobble some feeble bravado by post b*mbing me here with concerted messages of attack. And you try to make out I am the crazy one.
You / you guys just make me laugh. And you endlessly entertain me with your naivety and childishness. Merry Xmas
Partly correct Brad. Tlou started out big and brash and promising lots and spending plenty. But then their wings were clipped by the system in Bots and therefore TG has had to become frugal in recent years.
If you want to busy yourself for a day or so, analyse or extrapolate their annual spend for last 10 years. That spent on Exploration and Evaluation v Wages and Salaries v the rest will help you better with context.
I just dont get why, after so many years, you guys just dont get the real story here.
Cor blimey, how do i phrase this best. Hmm - winni , grow up, grow a pair, change the record, contribute to this board, whatevrrrr . I get it; i got is ages ago - you dont like my posts, you dont like a person you have never met, you see my name and or my posts and you default into an angry human - get over yourself man ! It isnt me that has killed this message board - its you and your mates that react childishly every time i post. Move on chump(s).
How many shares were 'in issue' when you bought your shares Safe ?
There must be a reason for why you constantly berate a company / its management - please share why that is here so we can help understand your frustration better. It has to be something more than yu are just down a few quid. Surely.
Totally agree Free - you need money to build and commercialise. And i also agree the opportunity is significant ahead. And also that TG never had to build out his previous gas projects in Australia, but is having to demonstrate 'gas works in Botswana'. And I am pretty sure you would agree with me that TG and management never thought they would have to work this hard to get Botswana CBM delivered and commercialised.
I hope the rights issue gets well away. My earlier post today was simply pointing out certain risk aspects.
The reaction from the regular keyboard warriors was typically predictable. They would rather gob off than ever think critically.
The doc and Pension fund both have convertible notes exercisable into shares - work it out fellas. That is what fully diluted means.......