Kibo Energy PLC Update on Benga Power Plant Project (3959Y)
08 May 2019 - 10:00PM
UK Regulatory
TIDMKIBO
RNS Number : 3959Y
Kibo Energy PLC
08 May 2019
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: 8 May 2019
Kibo Energy PLC ('Kibo' or the 'Company')
Update on Benga Power Plant Project
Kibo Energy PLC, the multi-asset energy company, is pleased to
announce an update on its Benga Power Plant Project in Mozambique
('Benga' or 'the Project').
The Company is advancing the development of its 65% owned Benga
Power Plant Project in Joint Venture with Mozambique energy company
Termoeléctrica de Benga S.A, with a view to constructing and
operating a 150-300 MW coal-fired power station with feedstock
provided by regional coal producers. In line with this, the Company
has presented the Definitive Feasibility Study ('DFS') for the
Project to the Ministry of Energy and EDM, Mozambique's publicly
owned electricity company. Additionally, under the terms of the
existing MOU, power purchase agreement ("PPA") discussions with EDM
continue to progress as do those with potential private
off-takers.
Louis Coetzee, CEO of Kibo, said: "Working in Mozambique has
been notably straightforward as evidenced by the timely advancement
of Benga which is currently advancing well ahead of the Company's
development schedule for the project. The project is gaining
increasing recognition as a notable energy project in Mozambique
and the support and feedback we have received on the Project so far
is highly encouraging. We look forward to updating the market
further on our progress including negotiations on the PPA."
**ENDS**
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 / +44 (0) 20 3700 SVS Securities Limited Joint Broker
Tom Curran 0093
------------------- ----------------------- -------------------------
Jason Robertson +44 (0) 20 7374 First Equity Limited Joint Broker
2212
------------------- ----------------------- -------------------------
Andrew Thomson +61 8 9480 2500 RFC Ambrian Limited NOMAD on AIM
------------------- ----------------------- -------------------------
Isabel de Salis +44 (0) 20 7236 St Brides Partners Investor and Media
/ Gaby Jenner 1177 Ltd Relations Adviser
------------------- ----------------------- -------------------------
Notes to editors
Kibo Energy PLC is a multi-asset energy company focused on
progressing a diverse portfolio of advanced power generation and
mining projects in Sub-Saharan Africa and the UK, utilising
established international relationships with key development
partners. It is simultaneously developing three coal-fuelled power
projects in Africa: the Benga Independent Power Project in
Mozambique; the Mabesekwa Coal Independent Power Project in
Botswana; and the Mbeya Coal to Power Project in Tanzania.
Additionally, the Company has a 60% interest in MAST Energy
Developments Limited, a private UK registered company targeting the
development and operation of flexible power plants to service the
Reserve Power generation market.
Johannesburg
8 May 2019
Corporate and Designated Adviser
River Group
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END
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