Shumba Energy Limited Achieving Financial Close for Tati Solar PV Project in FY 2024 – A Key Step in Growing Revenue

Published On: August 3, 2023Company: Shumba Energy Limited (SHUMBA.bw)
What is the timeline for the Tati Solar PV project to achieve financial close?
The Tati project is progressing towards financial closure by the end of second quarter of Fiscal Year 2024 (December 2023).

Tati Solar PV Project

  • Flagship 100 MWp solar PV project near the city of Francistown, Botswana
  • Progressing towards financial closure by the end of second quarter of Fiscal Year 2024 (December 2023)
  • RFP to be issued to shortlisted EPC contractors in the middle of the first quarter of Fiscal Year 2024 (August 2023)
  • Anticipate project completion the third quarter of Fiscal Year 2025 (January 2025)
  • Attracting substantial capital and Phase II of the project being contemplated

Sechaba Project

  • 100% ownership of the Sechaba coal mining project in the Morupule coalfield, Botswana
  • Prospecting license valid until 30 September 2024
  • Optimal solution to develop a 2 x 150MWp ‘HELE’ circulating fluidized bed coal fired power plant
  • In positive discussions and negotiations with well-funded parties to fund and for project execution
  • Awaiting award of land rights to enable issue of mining right

Morupule South Resources Project

  • 97.5% ownership of the Morupule South project near Morupule coal mine, Botswana
  • Prospecting license valid until 30 September 2024
  • Project lies within a hub of the extensive power transmission grid
  • Planned on an area circa one quarter of the licensed rights for open pit mining
  • Bulk sample extraction to be completed in preparation for application of the full mining license
  • Discussions with parties interested in developing the project for further base-load power generation

Two Mabesekwa Projects

  • Mabesekwa No.1 Mine and Independent Power plant to be developed within subsidiary Kibo Energy Botswana Pty Ltd (65% owned)
  • Mabesekwa No.2 Mine and associated Coal to Liquids Plant to be developed under the subsidiary Coal Petroleum Ltd (80% owned)
  • MEIPPP is planned to be a 600MWp mine-mouth power plant as a 4x150MW ‘HELE’ coal fired power plant
  • Mabesekwa No.2 Mine to feed a Coal to Liquids (CTL) Plant facility to produce up to 30,000bpd clean burning liquid fuels
  • Discussions with major petrochemical companies with respect to products offtake and distribution

Useful links

About Shumba Energy Limited (SHUMBA.bw)

Shumba Energy Limited is a Botswana-based coal and energy development company listed on the Botswana Stock Exchange. The company is primarily involved in electricity generation, transmission, and distribution for public and industrial power supply. It has a core focus on thermal, renewable, and hydroelectric sources. It also offers electrical engineering and maintenance services, as well as consulting and training-related services.

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