15 Jul 2015 07:00
15 July 2015
Edenville Energy plc
("Edenville" or the "Company")
Power Plant Feasibility Review Process
Edenville Energy plc (AIM: EDL) is pleased to update shareholders on the status of its Rukwa Coal to Power Project near Sumbawanga, south western Tanzania.
Edenville has commenced the formal review process of the Rukwa Power Plant Feasibility with Tanzania's Ministry of Energy and Minerals (MEM) and Tanesco (the state body for power generation, transmission and distribution), a key step in advancing the Rukwa Coal to Power Project to the development stage. This formal process will review and assess proposed power generation projects to satisfy commercial and regulatory requirements.
The Company are most encouraged that the Power Plant Feasibility has been positively received and is in the review stage with the MEM and Tanesco. This will enable the Company to advance negotiations relating to Power Purchase Agreement (PPA) tariffs and plan the integration of Edenville's power plant into Tanzania's transmission and distribution infrastructure programme. Agreement of base tariff rates will better define capital and operating expenditure requirements, allowing accurate modelling by Engineering, Procurement and Construction (EPC) groups as part of the formal tender process."
Rufus Short, CEO of Edenville commented, "We now see Edenville's Rukwa Coal to Power Project making significant progress in three areas - the MEM/Tanesco review of the Power Plant Feasibility Study, the submission of the Mining Licence application and discussions with EPC partners. We're moving forward on these fronts in parallel, each allowing better definition of the project's economic and technical parameters, taking us closer to the point of a formal relationship with an EPC partner. I am very encouraged by the recent discussions we had with the MEM, which underlined the absolute necessity of coal fired power generation in Tanzania and I am confident we will continue to receive valuable input and support from the Tanzanian authorities. We will continue to update our shareholders on key developments as they occur."
Contact
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Edenville Energy Plc Rufus Short - CEO | +44 (0) 20 7652 9788 |
Cantor Fitzgerald Europe (Nominated Advisor and Corporate Broker) Stewart Dickson Jeremy Stephenson
| +44 (0) 20 7894 7000 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring | +44 (0) 20 3053 8671 |