TLOU ENERGY MD: Tony Gilby
Tlou Energy Managing Director (MD), Tony Gilby says the company is yet to secure funding for its projects.
In an update to stakeholders this week, Gilby admitted that while project finance discussions continue to progress, the process is taking longer than expected.
He explained a number of potential financiers would like to see the tender process come to a successful conclusion before committing funds to the project.
Once the tender process is complete, Gilby says the company expects to have additional funding options available.
In 2018, the Ministry of Mineral Resources Green Technology and Energy Security (MMGE) issued a Request for Proposal for the development of up to 100 Megawatts (MW) of Coalbed Methane (CBM) fueled power plants.