Kibo Energy PLC (LON:KIBO) told investors that is has now submitted documentation, a formal tender qualification document, to TANESCO (Tanzania Electricity Supply Company) for the Mbeya coal to power project (MCPP).
It noted that this latest step is in line with the Tanzanian Government's new initiative regarding the development of independent power projects.
READ: Kibo Energy moves closer to landing permits for Tanzania coal-to-power project
Louis Coetzee, Kibo chief executive, said: "Our visionary development approach has allowed us to develop and forge critical strategic partnerships very early on in the process and having done all the definitive feasibility studies, financial modelling, technical development work and environmental and social impact assessment certification well in advance, we have been able to submit a TQD of exceptionally high standard and substance in a very short space of time, submitting our TQD 24 hours ahead of the submission deadline; we believe that this will stand us in good stead.
“We are now waiting for a definitive date for completion of Phase 1 from TANESCO but expect this to be completed before the end of 2018."
The process now sees Kibo proceed, with pre-qualification notification anticipated for successful applicants.
A definitive date for the completion of phase 1 is anticipated before the end of this year, and, phase 2 is expected to include pre-bid meetings, a variety of meetings and consultations, followed by an award process.