Page 16 - AfrElec Week 46 2022

COAL
AfrElec AfrElec

Tlou Energy raises $2mn to

further develop Lesedi

BOTSWANA ASX-LISTED power solutions developer fast-track project development including the
Tlou Energy has raised AUD3mn ($2.03mn, anticipated high-impact drilling campaign
BWP25mn) for the development of its Lesedi scheduled for 2023. The drilling campaign aims
power project in Botswana following a placing to produce further gas for electricity generation
of 85,714,286 new ordinary shares of no par under the Power Purchase Agreement (PPA)
value at an issue price of AUD0.035 ($0.024, with Botswana Power Corporation.
BWP0.30) per share (New Shares). “We welcome Dr Campbell’s additional
The funds have again been raised via an entity capital that will further assist the Company to
controlled by Dr Ian Campbell, a high-net- meet our objectives. Having him as a new and
worth investor based in Sydney, Tlou said in a enthusiastic shareholder is very good for Tlou,”
press statement on November 11. chief executive Anthony Gilby said in the press
Campbell, a co-founder of the CPS Group, an statement.
Australian-owned group of private companies, “This is a further and significant endorsement
has invested AUD2mn, as announced by Tlou of Tlou’s Lesedi Power Project in Botswana. I am
on November 4. The funds are proposed to be also delighted that Dr Campbell has indicated to
used to support Lesedi gas-to-power project the Company that he will work with us to secure
including the construction of substations to con- additional funding aimed at fast-tracking devel-
nect to the existing electricity grid in Botswana. opment of the 10MW power project as early as
The new placement will result in Campbell’s possible,” he added.
entity holding 19.23% of the company. Accord- According to the statement, an application
ingly, and as announced earlier, Campbell has will be made for the allotment and quotation
the right to nominate one director to the board of the New Shares to trading on ASX, AIM, and
subject to any regulatory requirements. To date BSE with the quotation of the shares expected to
no such nomination has been made, Tlou said. take place on, or around November 16.
According to the statement, Campbell has Tlou Energy is engaged in the development of
indicated that he intends to remain a long-term power solutions in Sub-Saharan Africa through
strategic investor and has expressed a willingness coalbed methane gas-fired power, solar power
to potentially provide further financial support and hydrogen projects. The company engages
to Tlou over and above his recent contributions. in the exploration and evaluation phase of
Tlou said that additional funding could development.™
Doosan Enerbility secures

$1.2bn deal for Dabaa

SOUTH KOREA SOUTH Korea’s Doosan Enerbility said it steam generator.
secured a contract worth KRW1.6tn ($1.21bn) The Dabaa project was won in 2017 by Rus-
from Korea Hydro and Nuclear Power (KHNP) sia’s state-owned nuclear power company, Rosa-
to set up a turbine island (a secondary circuit tom. The $30bn project includes four 1,200MW
used to generate power) as part of the El Dabaa reactors. In August, Rosatom unit ASE JSC
Nuclear Power Plant in Egypt, according to a signed up KHNP as the contractor for the tur-
statement on Monday (November 14). bine island project that includes 82 buildings.
According to the deal, the firm, formerly The first tower building is expected to finalise by
Doosan Heavy Industries, will build 32 build- August 2023.
ings and structures in the Dabaa facility located In January, Rosatom approved KHNP as
300km northwest of Cairo, including the turbine the sole bidder for the procurement of certain
building and generator installation. It will also equipment and materials, and the construction
set up the water treatment and air conditioning of buildings and turbine islands. The Russian
systems. The project is expected to finalise in firm said it will help Egyptian partners in train-
2029. ing personnel and plant maintenance for the first
The primary circuit of the project depends on 10 years of facility operation. ™
the nuclear steam generated by the reactor and

P16 www. NEWSBASE .com Week 46 16•November•2022