Last checked at 7 Dec 2018 10:20
Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
("Kibo" or "the Company")
Dated: 07 December 2018
Kibo Energy PLC ('Kibo' or the 'Company')
Update on MCPP in Tanzania
Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused, energy company, has today resubmitted the tender qualification document to the Tanzania Electricity Supply Company ("TANESCO") with regards to the Mbeya Coal to Power Project ("MCPP"). (NOTE: Also see RNS dated 07 November 2018)
Louis Coetzee, CEO of Kibo, said, "Given that much of the information within this 535-page document had already been generated, we just needed to ensure that its collation complied with TANESCO's revised November 2018 requirements. With this now complete and having recently been recommended for grant of a Special Mining Licence from the Mining Commission of Tanzania, we remain hopeful that 2019 will see the swift advancement of the MCPP in tandem with our two other utility scale projects in Botswana and Mozambique."
**ENDS**
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
For further information please visit www.kibo.energy or contact:
Louis Coetzee | info@kibo.energy | Kibo Energy PLC | Chief Executive Officer |
Andreas Lianos | +27 (0) 83 4408365 | River Group | Corporate and Designated Adviser on JSE |
Ben Tadd /Tom Curran | +44 (0) 20 3700 0093 | SVS Securities Limited | Joint Broker |
Jason Robertson | +44 (0)20 7374 2212 | First Equity Limited | Joint Broker |
Andrew Thomson | +61 8 9480 2500 | RFC Ambrian Limited | NOMAD on AIM |
Isabel de Salis / Gaby Jenner | +44 (0) 20 7236 1177 | St Brides Partners Ltd | Investor and Media Relations Adviser |
Notes to editors
Kibo Energy PLC is a multi-asset, Africa focussed, energy company positioned to address the acute power deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end, it is the Company's objective to become a leading independent power producer in the region.
Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project ('MCPP') in Tanzania; the Mabesekwa Coal Independent Power Project ('MCIPP') in Botswana; and the Benga Independent Power Project ('BIPP') in Mozambique. By developing these projects in parallel, the Company intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement, equipment, human capital, execution capability / capacity and project finance. Additionally, the Company will benefit from its robust and experienced international blue-chip partnership network across its project portfolio, which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting (South Africa); ABSA / Barclays Africa; and Hogan Lovells International LLP.
Johannesburg
07 December 2018
Corporate and Designated Adviser
River Group