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Kalahari Energy awarded 97MW CBM power station construction

Kalahari Energy Botswana (KEB) has been awarded preferred bidder status for the construction of a 97MW Coal Bed Methane (CBM) fuelled IPP – owned power station.  

Kalahari Energy Botswana, through its wholly-owned subsidiary Sekaname (Pty) Ltd, has been notified by the Ministry of Mineral Resources, Green Technology and Energy Security that it has been awarded Preferred Bidder status for the construction of a CBM-fuelled, IPP-owned power plant in Botswana. This notification follows from the Group’s submission in October 2018 to tender “for the development of a maximum of 100 MW coal-bed methane fuelled pilot power plant in Botswana as an Independent Power Producer”.  

Sekaname submitted a bid for 97MW and its rival in the closed tender process – Tlou Energy – submitted a bid for 2MW scalable to 10MW over time. Tlou Energy has also been awarded Preferred Bidder status. The award to Kalahari Energy leads to negotiations with the procuring authority and provides for the design, procurement and construction of the first CBM-fuelled power plant in Botswana, creating employment opportunity for between 1,200 and 1,500 workers during the construction phase.

The project will have a significant impact on the economy of Botswana as it will provide a springboard from which to commercialise the significant CBM resources in Botswana whilst reducing the country’s carbon footprint. Key terms of the bid are are such that, the Kalahari Energy power-generation facility will operate as an Independent Power Producer; The Kalahari Energy power-generation facility will enter into a 30-year Power Purchase Agreement with the Botswana Power Corporation; and The Botswana Government will provide a credit-enhancement mechanism to make the project bankable.

The tender submission for the project included a CBM-fired power plant with a nameplate capacity of 110 MW (gas engines), a supporting gas-field extraction and processing facility to supply gas to the power plant and a 220 kV transmission line to evacuate the power to the Serule substation. In 2017 Kalahari Energy, as the project owner, appointed Prana Energy as Project Developer to facilitate its response to the closed tender RFP and delivery of the subsequent project award through to financial close.  

Prana Energy leads an experienced international project development team with a proven track record of delivering successful natural gas and CBM projects, comprising (amongst others): Owners Team Consultation – conceptual design engineering and project management; Advanced Resources International Inc – reservoir modelling and well-field design; Eaglestone Capital – financial modelling, capital structuring and fund-raising; and Ecosurv – leading the EISA process on behalf of Kalahari Energy.

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China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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