Tlou Energy said yesterday it had found a project partner for its coal bed methane (CBM) power project in Botswana.
London-listed Tlou said UK developer Independent Power Corporation (IPC) would work with it to draw up a detailed proposal for submission to the Government of Botswana.
IPC will also contribute up to $200,000 to help cover the cost of a tender for the development of the power plant, which will be supplied with gas from Tlou’s Lesedi project.
Tlou managing director Tony Gilby said: “Tlou is strengthening its position as the leading gas to power company in Botswana with the announcement of IPC as our preferred development partner.
“IPC brings power generation experience and funding partners to the project that significantly enhances its viability.
“With an expanding gas reserves base, environmental approval for the upstream component of the proposed development and now a power development partner, we are in a very strong position.”
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