Louis Coetzee, CEO of Kibo, commented, “I am very encouraged by the overall progress being made at MCCP.
The renewal of the Water Permits, so soon after the recent approval and processing of seven Mining Rights for the Project, further confirms my confidence in its potential and I look forward to updating shareholders as we continue to successfully advance its development.”
Renewal of Water Permits for MCPP to retain EIA Certification
Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to announce a status update on the Water Rights of the Mbeya Coal to Power Project (“MCPP”) in Tanzania.
The Company was informed by its Tanzanian subsidiary, Mbeya Power Ltd, that its Water Rights, acquired during August 2018, were successfully renewed ahead of schedule. This ensures that the MCPP EIA certification remains valid and maintains the right to use large quantities of water, a strategic commodity for the MCPP, specifically by the Power Station.
Kibo Energy PLC is a multi-asset, Africa focused, energy company positioned to address the acute power deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end, it is the Company’s objective to become a leading independent power producer in the region.
Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project (‘MCPP’) in Tanzania; the Mabesekwa Coal Independent Power Project (‘MCIPP’) in Botswana; and the Benga Independent Power Project (‘BIPP’) in Mozambique. By developing these projects in parallel, the Company intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement, equipment, human capital, execution capability / capacity and project finance.
Additionally, the Company has a 60% interest in MAST Energy Developments Limited (‘MED’), a private UK registered company targeting the development and operation of flexible power plants to service the Reserve Power generation market.
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