Louis Coetzee, CEO of Kibo Energy PLC (LON:KIBO), has reassured investors that TANESCO's unexpected decision not to buy any electricity from its Mbeya Coal to Power project will not change the company's strategy.
Coetzee told Proactive London the company has a strong diversified portfolio and is "not dependent on one project." Kibo has additional assets in Botswana, Mozambique and the UK where it has undertaken development and 'heavy lifting' across several energy initiatives.
Although the company does not have the opportunity to have a single offtaker for the power project in Tanzania, Coetzee is emphatic "all the assets are the same. They are still in place. We're still working on them and we are still moving forward."