Kibo Mining PLC (LON:KIBO) is about to take another step closer to finalising work on its 300MW Mbeya coal-to-power project under a memorandum of understanding (MoU) with the Tanzania Electric Supply Company (TANESCO).
The company signed the MoU with TANESCO in February with regards to a power purchase agreement (PPA) for power that will be produced from Mbeya.
READ: Kibo Mining signs Memorandum of Understanding with Tanzanian power utility
In a statement on Thursday, Kibo said it has received confirmation from TANESCO that a work session for the full PPA task team has been scheduled for April 10 to finalise work on key deliverables stipulated under the MoU.
Representatives of Kibo and TANESCO will attend the session.
Kibo said the meeting will also review the overall progress and remaining deliverables under the MoU and discuss measures to ensure that the timeline and action plan is executed in line with what has been agreed.
“We are very pleased with the co-operation and commitment from TANESCO in advancing the PPA process since signing the MoU, despite extraordinary challenges experienced by TANESCO over the past three months in particular,” said Kibo's chief executive Louis Coetzee.
“This work session of the full PPA task team follows a period of work by the task team that commenced immediately after signing of the MOU and during which we expect to bring their efforts together in positive and productive results in respect of the agreed deliverables stated in the PPA MoU."