Tlou raises P40m to advance gas-fired power project

Lesedi is set to become Botswana’s first project to derive electricity from gas (CBM). In a statement released yesterday, the company which is listed on both the London and Australian bourses, said it has placed more than 51 million shares at an issue price of 10 cents each, to investors in both countries. 

Tlou’s managing director, Tony Gilby said: “This placement along with the recently announced agreement with Independent Power Corporation PLC provides significant momentum for Tlou to progress the upstream (gas field) and downstream (power and transmission) components of the Lesedi CBM project with the objective of supplying the first gas‐fired power in Botswana”. “We were very pleased with the introduction of a number of new investors to the company along with continued support from existing shareholders in Australia and the UK,” he added.