- A Milestone for Clean Energy and Economic Progress
Botala Energy Limited, an ASX mining junior is positioning itself to take advantage of a resurgence in global demand in renewable energy amid new explorations in central Botswana.
An upbeat non-executive director of Botala Energy, Peter Grant said on the sidelines of a secondary listing on the foreign board of the Botswana Stock Exchange (BSE) this week that the growth in demand for renewable energy will benefit rural communities.
Botala Energy has a footprint in Botswana, exploring approximately 420,000 hectares in the Sandveld of the central Kalahari Karoo Basin. Grant said Botala’s exploration has yielded promising results.
As a result, the mining junior said it has drilled seven exploration wells within the central Karoo Basin and is currently working on the fourth pilot production well. Grant said the exploration demonstrates the juniors’ commitment to becoming a significant producer of commercial gas in Botswana within the next 12 months.
Emphasising the significance of gas in the global shift towards renewal energy, Grant said his company plans to provide daytime solar and gas to Botswana. Botala Energy was established in 2019 and listed on the Australian Stock Exchange (ASX) in 2022. It listed on the foreign board of the BSE last week.
Now the company is looking into delivering Liquefied Natural Gas (LNG) to off-grid communities, reducing reliance on wood and providing reliable and affordable electricity and gas, according to Grant, outlining his company’s vision to expand and establish an Energy Hub and Industrial Park near Palapye and collaborate with the Ngwato Development Trust of Serowe to set up a solar/gas hybrid plant.
Grant expressed confidence that Botala Energy’s development in Botswana’s gas and solar energy resources has the potential to rival the impact of the discovery of diamonds.
The Australian company intends to employ citizens as well as acquire equipment and services in Botswana, and encourage Batswana individuals, companies, and investment funds to participate in the energy transition.
Tsametse Mmolai, the BSE Head of Listings & Trading emphasised the significance of Botala Energy’s commitment to clean energy production, aligning with global movements towards sustainability. The decision to list on the BSE reflects confidence in the exchange as a strategic partner in Botala Energy’s corporate journey.
“The listing offers diverse sources of capital for Botala Energy, facilitating the advancement of exploration and development projects, technological innovation, and achieving clean energy production goals,” he said. Mmolai stressed the importance of the listing in enhancing the attractiveness and credibility of the BSE to both domestic and international investors.
Moreover, he said Botala Energy’s listing signifies a broader commitment to economic diversification and resilience in Botswana. Mmolai says as the nation moves beyond the traditional reliance on diamonds, the inclusion of innovative companies like Botala Energy on the exchange reflects the evolving economic landscape.
The listing is a sign of confidence in the market, Mmolai said.
“As Botala Energy takes this monumental step towards a greener future, it not only solidifies its position as a key player in Botswana’s energy landscape but also contributes to the broader economic vitality of the nation,” he said.
