Less Ads, More Data, More Tools Register for FREE

Pin to quick picksEDL.L Share News (EDL)

  • There is currently no data for EDL

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Edenville Warns There Could Be Delays At Rukwa Due To External Factors

Tue, 08th Sep 2015 07:33

LONDON (Alliance News) - Edenville Energy PLC Tuesday said it still aims to secure financing and secure an engineering, procurement and construction partner for the Rukwa coal to power project before the end of 2015, but said external factors beyond its control may cause delays.

"Edenville continues to progress the Rukwa coal to power project, with attention focused on the selection of engineering, procurement and construction, and financial partners. We have made significant progress in this area over the past 6 months and aim to complete the process during the fourth quarter [of] 2015, but external factors beyond our control may influence timing," said Chief Financial Officer Rufus Short.

Edenville is trying to secure an EPC contractor and a financing partner simultaneously, as the EPC contractor will determine how much money is needed to construct the project.

"We will pursue an integrated approach to project development, with the aim of implementation alongside the Tanzanian authorities, to provide a successful outcome for all stakeholders," said Short.

The company said it has now received cost analyses from several EPC contractors for the required boiler, turbine, generator and components for the plant. More contractors are expected to visit the project in Tanzania in the short term.

Edenville said it has also made "further development" in talks with potential financiers for the provision of debt finance for Rukwa.

"During the fourth quarter, when all interested parties will have concluded meetings and put forward formal proposals, we expect our discussions to reach a point where a structured, multi-party plan can allow the project to progress to the stage where advanced discussions on timing for project development can be entered into with the Tanzanian authorities," said Short.

Edenville shares were trading flat at 0.0600 pence per share on Tuesday morning.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.

More News
1 Nov 2016 10:29

WINNERS & LOSERS SUMMARY: Standard Chartered Sold As Profit Misses

Read more
27 Sep 2016 08:09

Edenville Bulk Sampling Results Signal Fast, Low-Cost Mine Development

Read more
16 Sep 2016 14:59

Edenville Energy makes solid progress in first half

(ShareCast News) - Edenville Energy, the company developing a coal to power project in south western Tanzania, posted a half-year report for the six months to 30 June on Friday. During the period, the AIM-traded company was granted a mining licence over the Mkomolo deposit, and initiated the site up

Read more
24 Aug 2016 12:22

Edenville Energy appoints non-executive chairman

(ShareCast News) - Edenville Energy has appointed geologist Jeffrey Malaihollo as non-executive chairman, effective from 1 September. Edenville is developing a coal-to-power project in south western Tanzania. It noted that Malaihollo brought significant corporate and mining experience, and that he

Read more
15 Aug 2016 15:18

Edenville sees opportunity in Tanzania coal import ban

(ShareCast News) - Tanzania-focused coal-to-power project developer Edenville Energy updated the market on the latest developments with regard to the project on Monday. The AIM-traded firm said that on 10 August 2016 the Tanzanian Ministry of Energy and Minerals announced a directive banning the imp

Read more
12 Aug 2016 12:23

Edenville Energy board proposes major share reorganisation

(ShareCast News) - Tanzania-focused coal-to-power project developer Edenville Energy announced a proposed reorganisation of its share capital on Friday. The AIM-traded firm's board said it believes that "significant progress" has been made over recent months on several areas of the power plant devel

Read more
12 Aug 2016 09:37

WINNERS & LOSERS SUMMARY: CEO Change Sends Restaurant Group Higher

Read more
22 Jul 2016 08:11

Edenville Meets Representatives To Discuss Rukwa Project Progression

Read more
13 Jul 2016 09:17

Edenville Makes Progress At Rukwa, Issues Shares To Cover Fees (ALLISS)

Read more
14 Jun 2016 16:24

DIRECTOR DEALINGS SUMMARY: Edenville Energy Executives Subscribe

Read more
14 Jun 2016 09:22

Backed By Executives, Edenville Energy Raises GBP432,500 (ALLISS)

Read more
27 May 2016 15:03

UK Shareholder Meetings Calendar - Next 7 Days

Read more
27 May 2016 08:07

Edenville Energy Reports Progress On Rukwa Project In Tanzania

Read more
18 May 2016 08:49

Edenville Says Work Begins At Rukwa Coal Deposit With Access Upgrades

Read more
10 May 2016 08:58

Edenville Still Searching For Development Funds As Loss Widens In 2015

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.