Kibo Energy PLC Mbeya Power Update (7844Z)
18 Mayo 2023 - 1:00AM
UK Regulatory
TIDMKIBO
RNS Number : 7844Z
Kibo Energy PLC
18 May 2023
Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
LEI Code: 635400WTCRIZB6TVGZ23
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
('Kibo' or 'the Company')
Dated: 18 May 2023
Kibo Energy PLC ('Kibo' or the 'Company')
Mbeya Power Update
Kibo Energy PLC (AIM: KIBO; AltX: KBO), the
renewable-energy-focused development company, is pleased to provide
an update to its Mbeya Power Project ('MPP'), of which a renewed
Memorandum of Understanding ('MoU') was announced in a Company RNS
dated 23 November 2022. The MoU sets out clear guidelines,
deliverables and timelines for the conclusion of a Power Purchase
Agreement ('PPA') and related implementation agreements between
Mbeya Power Limited, a 100% owned subsidiary of Kibo Energy, and
the Tanzania Electric Supply Company Limited ('TANESCO').
Mbeya Power Limited and representatives of TANESCO have engaged
several times over the past months, with the latest meeting
concluding in agreement on the due diligence scope and process for
TANESCO's due diligence on the MPP, in line with the agreed key
project milestones. Further to this, the parties have agreed to the
establishment of a Joint Technical Committee. The primary
responsibility of the Joint Technical Committee will be to ensure
the key milestones, as set out in the MoU, are met as agreed in the
MOU.
Louis Coetzee, CEO of Kibo Energy, says: "We are excited by the
renewed commitment and enthusiasm that all parties are showing
towards getting a PPA agreed asap and to be part of an opportunity
to contribute towards addressing Tanzania's extensive and urgent
energy needs."
**ENDS**
For further information please visit www.kibo.energy or
contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive
Officer
James Biddle +44 207 628 3396 Beaumont Cornish Nominated Adviser
Roland Cornish Limited
------------------------------ ----------------------- ----------------------
Claire Noyce +44 20 3764 2341 Hybridan LLP Joint Broker
------------------------------ ----------------------- ----------------------
Damon Heath +44 207 186 9952 Shard Capital Partners Joint Broker
LLP
------------------------------ ----------------------- ----------------------
Zainab Slemang zainab@lifacommunications.com Lifa Communications Investor and Media
van Rijmenant Relations Consultant
------------------------------ ----------------------- ----------------------
Johannesburg
18 May 2023
Corporate and Designated Adviser
River Group
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDSFMFMWEDSEFI
(END) Dow Jones Newswires
May 18, 2023 02:00 ET (06:00 GMT)
Kibo Energy (LSE:KIBO)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Kibo Energy (LSE:KIBO)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
