Tlou Energy Ltd 100 MW Request for tender debrief meeting (0196F)
February 15 2018 - 5:22AM
UK Regulatory
TIDMTLOU
RNS Number : 0196F
Tlou Energy Ltd
15 February 2018
15 February 2018
Tlou Energy Limited
("Tlou" or "the Company")
100 MW Request for tender debrief meeting
Tlou Energy Limited, the company focused on developing
Gas-to-Power projects in Botswana and southern Africa through the
development of coal bed methane ('CBM') natural gas, met with the
Ministry of Mineral Resources Green Technology and Energy Security
('the Ministry') for an update on the cancellation of the Request
for Proposal ('RFP') for development of up to 100MW of CBM fuelled
power plants in Botswana and the planned re-tender of the RFP to
the original bidding companies, including Tlou.
The RFP was issued in early 2017 and Tlou submitted a detailed
response to the Ministry in September 2017. Tlou's submission
outlined a staged development commencing with up to 10MW of
generation as well as outlining project feasibility, proposed field
development, installation of power generation facilities and supply
of power into the grid in Botswana.
The Company received correspondence this week that the tender
has been cancelled and met with the Ministry to understand why the
original tender was cancelled and how a proposed re-tender would be
conducted. This was a constructive discussion with engagement from
the Ministry as to how best to address their concerns with the
original Tlou tender.
The Ministry outlined that neither of the bids received had met
their compliance requirements and detailed the areas where bids
were non-compliant. The non-compliant areas were discussed, and it
was clear that most of them could not be complied with, as the
requirements could only be met by a party that was already in
commercial operation.
Following the meeting, the Company believes that the Ministry is
amenable to amending the tender document as required. The Company
will write to the Ministry this week to respond to all compliance
matters raised. The Company will also suggest that the Ministry
consider establishing a separate process for a smaller pilot
project without the necessity for a long tender process. Once this
pilot project is successfully operating, it could then lead to a
re-tender in line with the Ministry's current plan.
The Company is confident that a favourable outcome can be
achieved due to the good working relationship with the Ministry and
the eagerness on both sides to get the CBM industry up and running
in Botswana.
Alongside this process, the Company will continue its efforts of
connecting to the Botswana power grid and securing other off-takers
regionally, who can be supplied via the South African Power
Pool.
**ENDS**
For further information regarding this announcement please
contact:
Tlou Energy Limited +61 7 3012 9793
------------------------------------ ---------------------
Tony Gilby, Managing Director
------------------------------------ ---------------------
Solomon Rowland, Company Secretary
------------------------------------ ---------------------
Grant Thornton (Nominated
Adviser) +44 (0)20 7383 5100
------------------------------------ ---------------------
Samantha Harrison, Colin Aaronson,
Harrison Clarke
------------------------------------ ---------------------
+44 (0) 207 408
Shore Capital (Joint Broker) 4090
------------------------------------ ---------------------
Jerry Keen, Mark Percy, Toby
Gibbs
------------------------------------ ---------------------
FlowComms Limited (Investor +44 (0) 7891 677
Relations) 441
------------------------------------ ---------------------
Sasha Sethi
------------------------------------ ---------------------
Company Information
Tlou Energy is focused on delivering Gas-to-Power solutions in
Botswana and southern Africa to alleviate some of the chronic power
shortage in the region. Tlou is developing projects using coal bed
methane ("CBM") natural gas. Botswana has a significant energy
shortage and generally relies on expensive imported power and
diesel generation to fulfil its power requirements. As 100% owner
of the most advanced gas project in the country, the Lesedi CBM
Project, Tlou Energy provides investors with access to a compelling
opportunity using domestic gas to produce power and displace
expensive diesel and imported power.
The Company is listed on the Australian Securities Exchange,
London's AIM market and the Botswana Stock Exchange and is led by
an experienced Board, management and advisory team including
individuals with successful track records in the CBM industry.
Since establishment, the Company has significantly de-risked the
project in consideration of its goal to become a significant
gas-to-power producer. The Company flared its first gas in 2014,
holds a Mining Licence and nine Prospecting Licences, covering an
area of 8,300Km(2) in total, and the Lesedi Project already
benefits from significant independently certified Contingent Gas
Resources of 3.2 trillion cubic feet (3C) and independently
certified Gas Reserves of 261 billion cubic feet (3P).
The Company is planning an initial scalable gas-to-power
project. Following successful implementation of this first scalable
project, the Company plans to expand to provide further power
across the southern African region.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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