Tlou Energy has announced its 2024 results. The Annual Report and Consolidated Financial Statements for the year ended 30 June 2024 are available on the Company's website: https://tlouenergy.com/reports
Highlights:
- The transmission line connecting Tlou's Lesedi project directly to both Botswana's power grid and the Southern African Power Pool is effectively complete
- Connection to Serowe substation achieved - Tlou's power project is no longer isolated from primary Botswana electricity market
- The Lesedi substation is about 75% complete and due for completion later this year
- Lesedi production wells continue to produce gas with a focus now on stabilising surging gas flows
- Advanced discussions are being held with a Tier 1 generator supplier
- Additional drilling planned to provide sufficient gas for the first megawatt of power
- The power station is anticipated to be commissioned in 2025
- The Company is waiting on the funding to complete grid connection, drill additional wells and commence sale of electricity
Tlou's Managing Director, Mr Tony Gilby commented, 'The past year has been highly productive. We focused on development of the upstream process including substations, transmission line and generation, bringing us closer to our target of grid connection.
The coming months we will refocus on downstream production, including drilling and dewatering wells aimed at providing sustained gas flow rates ahead of first power generation. Selling electricity into the grid can serve as a catalyst for significant near-term growth, unlocking the potential for further development and expansion.
I would like to extend my thanks to everyone who has contributed to our progress, and especially to our shareholders, whose support has been instrumental in reaching this stage.'
Click here for full announcement
Source: Tlou Energy
