Kibo Energy PLC (LON:KIBO) has renewed and expanded its Memorandum of Understanding (MOU) with Mozambican state-owned electric utility, Electricidade de Mocambique (EDM) to advance the financing, construction and operation of the Benga Independent Power Project in Mozambique.
The multi-asset, Africa focused energy company said EDM is committing to assist and co-operate towards the successful development of Benga in Mozambique.
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It added that a full feasibility study on Benga is ahead of schedule and progressing well, and is designed to confirm its commercial and operational viability.
The group also said it has strong local stakeholder support for Benga with energy supply a major Government priority in the development of the country
Louis Coetzee, CEO of Kibo Mining, commented: "We continue to make excellent progress in Mozambique with the development of Benga advancing according to plan.
“The renewal and expansion of this MOU with EDM are demonstrative of the significant local stakeholder support for the Project and we look forward to 2019 with confidence."