Botala Energy Ltd (ASX:BTE)
Botala Energy Ltd (ASX:BTE) aims to be a diversified energy company producing reliable and dispatchable energy from renewables, backed by gas (coal bed methane CBM) to:
- meet Botswanas domestic energy requirements
- export energy to neighbouring countries
- attract industries wanting reliable, renewable energy.
The Company expects industry to relocate to Botswana because, in addition to reliable energy, there is low sovereign risk, a favourable business environment and its strategic location near cross-continental highways with access to the markets of Southern Africa.
The Company's key focus will be the exploration and development of Botalas Serowe CBM potential. During 2021 exploration resulted in an independently certified 2C contingent resource increasing from ~24 billion cubic feet (bcf) by 136 bcf to 160 bcf in the Company's immediate area of interest. The prospective resource within its total tenement holding increased from 6.3 to 10.1 trillion cubic feet.
Botala Energy is acquiring 1520ha to establish the Lupani Energy Hub and Industrial Park. The proposed Hub is 4.6 km from the Morupule coal fired power station with access to the domestic and Southern African Power Pool electricity distribution networks and close to the towns of Palapye and Serowe and associated highways.
Botala is exploring and developing: the Serowe gas project; solar opportunities; decarbonisation; and carbon credit opportunities. Its activities comply with the Company's environmental, social and governance (ESG) guidelines.
Botala proposes to achieve its objectives through partnerships with Botswanas parastatals, the Batswana private sector and other interested parties.