Page 12 - AfrElec Week 50 2022
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AfrElec GAS GENERATION AfrElec
Tlou Energy raises $2mn for gas
drilling at Lesedi Power project
BOTSWANA ASX-LISTED power solutions developer Tlou will result in IC Australia holding 214,285,714
Energy says it has received firm commitments to ordinary shares representing 25.79% of the
raise AUD3mn ($2.03mn, BWP26.485mn) for company.
the development of its Lesedi power project in As previously announced, Campbell has the
Botswana via a placing of 87,796,135 new ordi- right to nominate one director to the board of
nary shares of no-par value. the company subject to any regulatory require-
Most of the funds will be raised through IC ments. To date, no such nomination has been
Australia, an entity controlled by Ian Campbell, made, Tlou said.
a high-net-worth investor based in Sydney, who “This additional investment is an endorse-
invested AUD2mn and a further AUD3mn in ment of the progress being made and will assist
separate share issues in November and has now the company to meet our objectives. These new
agreed to subscribe for 71,428,571 new shares at funds are planned to go towards drilling a new
a cost AUD2.5mn. gas production pod in 1H23,” Tlou chief execu-
The funds are proposed to be used for the tive Anthony Gilby said.
drilling of gas production wells and associated Tlou Energy is engaged in the development of
costs in relation to the development of the Tlou power solutions in sub-Saharan Africa through
project, the triple-listed (ASX, AIM, BSE) energy coalbed methane gas-fired power, solar power
company said in a statement on December 15. and hydrogen projects. The company partici-
The issue of the new shares is subject to share- pates in the exploration and evaluation phase of
holder approval, to be sought at a general meet- development.
ing in January 2023. If approved, the placement
Nigeria to launch $1.3bn Zungeru
hydroelectric plant in Q2 2023
NIGERIA NIGERIA’S Zungeru hydroelectric power sta- Before it goes into operation, the Nigerian
tion (HPP) will begin operations in the second government is seeking a private partner to oper-
quarter of 2023, local daily The Punch reports. ate the plant for 30 years, after which time it will
The plant is due to come online shortly after be transferred to the government. The same
the federal government completes its conces- partner will also be responsible for paying off
sion, scheduled for March. the government’s loan.
The Zungeru project, located in Niger State, In recent years, Nigeria has put a focus on
is still under construction. It will be the sec- hydroelectric energy as a means to achieve its
ond-largest HPP in the country, with the capac- goal of net-zero by 2060. Aside from the Zungeru
ity to generate 2.64bn kWh of electricity a year. plant, it has also completed the Kashimbila
The project has a reported cost of $1.3bn and Hydroelectricity Project (providing 40 MW),
has been funded 75% through a loan from Chi- and the Dadin-kowa dam (providing 40 MW).
na’s Exim Bank.
P12 www. NEWSBASE .com Week 50 14•December•2022
