- Tlou Energy’s (TOU) Boomslang Project has been given environmental approval by Botswana’s Department of Environmental Affairs (DEA)
- This approval represents a key milestone for the company as it supports the potential expansion beyond the adjacent flagship Lesedi Project
- Additionally, developing the Boomslang Project could lead to more revenue generating opportunities
- Excitingly, the Lesedi Project is getting closer towards first revenue as Tlou will soon begin constructing a 100-kilometre-long transmission line to link to the existing electricity grid
- Overall, Tlou plans to develop the Boomslang and Lesedi projects into reliable suppliers of cleaner energy in Botswana
- Company shares ended the day 16.4 per cent in the red to trade at 5.6 cents
Tlou Energy’s (TOU) Boomslang Project has been given environmental approval by Botswana’s Department of Environmental Affairs (DEA).
The clean energy company submitted an environmental impact statement to Botswana’s DEA which outlined the activities it plans to undertake.
Tlou intends to drill core holes and stratigraphy boreholes, conduct seismic and geomagnetic surveys, pilot test pods, monitoring wells and evaporation ponds and install various equipment.
These activities are aimed at unlocking the potential of the Serowe coal bed methane play.
This approval represents a key milestone for the company as it paves the way for it to expand beyond the current Lesedi project area.
The Boomslang Project sits adjacent to Tlou Energy’s Lesedi Project which is a more mature asset.
“It is noted that gas developments within the highly prospective Mamba and Boomslang permit areas can be readily tied back to the Lesedi power station and in time could provide additional revenue generating opportunities for the company,” Managing Director Tony Gilby said.
Excitingly, the flagship Lesedi Project is getting closer towards first revenue after Tlou secured funds to begin constructing a 100-kilometre-long transmission line which will link to the existing electricity grid.
This transmission line marks the first phase of development, and the company has issued tenders for the construction of this infrastructure. Leading candidates are located in Botswana and South Africa, and Tlou expects to award the tender early next quarter.
“We have a strong pipeline of project that are gradually coming to fruition,” Tony said.
Overall, Tlou plans to develop these projects into reliable suppliers of cost-efficient and cleaner energy in Botswana.
Company shares ended the day 16.4 per cent in the red to trade at 5.6 cents.