TIDMTLOU
RNS Number : 3525M
Tlou Energy Ltd
23 May 2022
23 May 2022
Tlou Energy Limited
("Tlou" or "the Company")
Transmission Line construction update
Construction activities for the transmission line to connect the
Lesedi Power Project ("Lesedi") to the Botswana power grid have
commenced.
Zismo Engineering Pty Ltd ("Zismo") have completed their
preliminary work and bush clearing of the route is underway.
Preliminary work included site handover, assembling the project
team and resources, mobilisation of plant and equipment, line
survey and design, pole structure modelling, and review and
approval by Tlou's Owners Engineer, Mott MacDonald.
Zismo has also commenced procurement of equipment which includes
manufacture of steel and wooden poles, cross-arms, line hardware,
fittings, stay wire and assemblies. Equipment will be delivered in
batches, with the first delivery of wooden poles expected next
month.
Zismo's project site offices are set-up in Mogorosi village and
a roving site camp will be located at convenient locations along
the transmission line route.
Project activities
Work commenced with route preparation which includes bush
clearing as mentioned above, as well as installation of farm gates
where required, line pegging, inspection and approval.
Erection of poles will be performed in sections with work
commencing on the Serowe end of the line and working towards
Lesedi. Work on the first section is due to commence at the end of
June and on section two around the end of September 2022. The line
is expected to use approximately 650 wooden poles and 80 steel
structures involving excavation, positioning, assembly, dressing,
planting, backfilling and compacting, and thereafter stringing,
tensioning and regulation. This will be followed by testing and
commissioning and ultimately line energisation.
Work on the transmission line is scheduled for completion in
mid-2023, with the substations at either end of the transmission
line expected to be completed in the second half of 2023. Sale of
electricity can start thereafter.
Tlou's Managing Director, Mr Tony Gilby commented, "It is great
to have the transmission line work underway in the field. Our team
will be very busy onsite over the coming months and I look forward
to seeing the project develop.
We are firmly on track to becoming a regional power producer in
a market with a huge power demand and at a time where worldwide
demand for gas and cleaner energy is growing significantly."
About the Lesedi Power Project
The Lesedi Power Project ("Lesedi") is located in Botswana's
Central District, approximately 100 Km from the existing
electricity grid.
To connect Tlou's 100% owned gas field and proposed generation
site at Lesedi to the grid, a 100 Km, 66kV transmission line and
supporting substations are required. The line will join the
existing grid near the town of Serowe. The 66kV line will be
capable of carrying up to 25MW of power. Initial electricity
generated will be sold to Botswana Power Corporation, the national
power utility under an agreed 10MW Power Purchase Agreement (PPA).
First revenue under this PPA is expected in late 2023.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
By Authority of the Board of Directors
Mr. Anthony Gilby
Managing Director
****
For further information regarding this announcement please
contact:
Tlou Energy Limited +61 7 3040 9084
Tony Gilby, Managing Director
----------------------
Solomon Rowland, General Manager
----------------------
Grant Thornton (Nominated Adviser) +44 (0)20 7383 5100
----------------------
Harrison Clarke, Colin Aaronson, Ciara Donnelly
----------------------
Arden Partners (UK Broker) +44 (0) 20 7614 5900
----------------------
Simon Johnson, Antonio Bossi
----------------------
Public Relations
----------------------
Ashley Seller +61 418 556 875
----------------------
About Tlou
Tlou is developing energy solutions in Sub-Saharan Africa
through gas-fired power, solar power and hydrogen projects. The
Company is listed on the ASX (Australia), AIM (UK) and the BSE
(Botswana). The Lesedi Power Project ("Lesedi") is 100% owned and
is the Company's most advanced. Tlou's competitive advantages
include our ability to drill cost effectively for gas, our
operational experience and Lesedi's strategic location in relation
to energy customers. All major government approvals have been
achieved.
Forward-Looking Statements
This announcement may contain certain forward-looking
statements. Actual results may differ materially from those
projected or implied in any forward-looking statements. Such
forward-looking information involves risks and uncertainties that
could significantly affect expected results. No representation is
made that any of those statements or forecasts will come to pass or
that any forecast results will be achieved. You are cautioned not
to place any reliance on such statements or forecasts. Those
forward-looking and other statements speak only as at the date of
this announcement. Save as required by any applicable law or
regulation, Tlou Energy Limited undertakes no obligation to update
any forward-looking statements.
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