Proactive Investors - Run By Investors For Investors

Kibo Energy says Benga power plant project is advancing ahead of schedule

Kibo Energy said the project is gaining "increasing recognition as a notable energy project in Mozambique".
electricity
Kibo has presented a DFS on the project to Mozmabique’s ministry of energy and state-owned electric utility EDM

Kibo Energy PLC (LON:KIBO) said its 65%-owned Benga power plant project is advancing well ahead of its development schedule.

In a joint venture with Mozambique energy company Termoeléctrica de Benga S.A, Kibo is working towards the construction of a 50-300 MW coal-fired power station with feedstock provided by regional coal producers.

READ: Kibo Energy boosted as it completes DFS at Benga power plant ahead of schedule

Kibo has presented a definitive feasibility study on the project to Mozmabique’s ministry of energy and state-owned electric utility, Electricidade de Mocambique (EDM).

Under the terms of an existing memorandum of understanding, power purchase agreement (PPA) discussions with EDM continue to progress as do those with potential private off-takers, 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,” said Kibo chief executive Louis Coetzee.

“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."

View full KIBO profile View Profile

Kibo Energy PLC Timeline

Related Articles

Electric vehicles
June 05 2019
Feasibility study values Zinnwald project in Germany at €428mln
Map of Queensland, Australia
February 28 2019
A recently published preliminary economic assessment shows an after-tax net present value of A$124 million and an internal rate of return of 24%
Surface rock samples from the BC project with visible gold and oxidised cobalt
March 12 2019
The company's field plans come after it potentially found the source of high-grade mineralisation.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use