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Tlou Energy advancing towards PPA negotiations for Botswana power project

The Botswana authorities have agreed to start talks for a temporary power purchase agreement to advance a pilot power project

Tlou Energy Limited - Tlou Energy advancing towards PPA negotiations for Botswana power project

Tlou Energy Limited (LON:TLOU) told investors that it has received a regulatory document in support of the tender for its coal bed methane venture in Botswana.

The written confirmation is from Botswana’s Ministry of Mineral Resources, Green Technology and Energy Security.

WATCH: Tlou Energy's Tony Gilby confident as it advances towards PPA negotiations

Tlou said it looks forward to working to finalise the power purchase agreement for the project in due course.

In a statement, the firm included an excerpt from the letter, which stated: “The Government of Botswana is committed to seeing the successful negotiation with your company on the power purchase agreement (PPA) for the supply of electricity from your coal bed methane (CBM) project.

“We are at an advanced stage of finalizing the contract for the engagement of the transactional advisors/consultants that will assist with the negotiations of the project agreements.

“Recognising that this has taken a long time, and to demonstrate government's commitment, we have agreed to get into discussions for a temporary power purchase agreement that would enable your organization to provide power on a pilot/proof of concept approach while negotiations for the full PPA are ongoing.”

Quick facts: Tlou Energy Limited

Price: 2.95 GBX

AIM:TLOU
Market: AIM
Market Cap: £13.28 m
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Watch

Tlou Energy's Tony Gilby hails receipt of interim power purchase agreement

Tlou Energy Ltd's (LON:TLOU) Tony Gilby speaks to Proactive London's Andrew Scott after confirming they've received an interim power purchase agreement (PPA) for its coal bed methane fuelled gas-to-power project in Botswana. He says the interim PPA has been agreed with the Botswana Power...

on 6/4/20

2 min read