Kibo Energy PLC (LON:KIBO) Update on MCPP in Tanzania

Louis Coetzee, CEO of Kibo, said, “TANESCO did not supply the Company with ANY reasons/explanation for its decision in their notification letter.

The Company is currently seeking very urgent clarification and explanation from TANESCO in this regard, whereafter the Company will consider its next course of action. The Company will provide the market with a further update as soon as more information becomes available.”

Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused, energy company, has today received written notice from the Tanzania Electricity Supply Company (“TANESCO”), informing the Company, without providing reasons or explanation, that it did not qualify to compete in the next stage of the bidding process under TENDER No. PA/001/2018-19/HQ/N/033. TANESCO announced the tender during Q3 2018 and called for tender qualification applications by interested parties to develop some of the planned Coal Power Projects with a total capacity of 600MW (see RNS’ dated 18 September 2018, 26 September 2018, 07 November 2018 and 07 December 2018 respectively).

 


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