Funding update on Lesedi power project
Tlou Energy, developers of the Lesedi power project in Botswana, have announced a funding update for the project, which will deliver cleaner electricity in Botswana and southern Africa. The project, utilising gas and solar power, has entered into advanced project finance discussions with a Botswana based entity.
According to the company: “The most advanced project finance discussions are currently with a very reputable Botswana based entity. Due to confidentiality the Company is unable to name the entity concerned at this time. However, we can confirm that their investment committee and board have discussed and are favourably disposed to Tlou’s proposal. They are now proceeding to get a third-party technical review of the project as part of their due diligence process. Once this report is assessed an investment decision can be made.”
Says Tlou’s managing director, Mr Tony Gilby:“We already have a great relationship with this group and look forward to working closely with them to get the process concluded successfully and as soon as possible. This is an outstanding project and with the right partners we believe it can be an overwhelming success both for Botswana and our shareholders.”
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