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Real Economy News in Real Time
R/€ = 16.14 Change: -0.06
R/$ = 14.29 Change: 0.03
Au 1382.75 $/oz Change: 39.27
Pt 811.67 $/oz Change: 9.98
 
 
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Kibo renews MoU with Mozambique utility

12th December 2018 BY: Marleny Arnoldi
Creamer Media Online Writer

JSE- and Aim-listed Kibo Energy has renewed and expanded its memorandum of understanding with Mozambican State-owned electricity utility Electricidade de Mocambique (EDM), to advance the financing, construction and operation of the Benga coal independent power project, in Mozambique.

Kibo CEO Louis Coetzee said in a release on Wednesday that the Benga development is advancing according to plan, with a feasibility study progressing well to confirm its commercial and operational viability.

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Kibo and its joint venture partner, Mozambique energy company Termoeléctrica de Benga, are developing the Benga project, which includes the construction and operation of a 150 MW to 300 MW coal-fired power station.

“The renewal and expansion of the agreement with EDM is demonstrative of the significant local stakeholder support for the project,” noted Coetzee. 

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EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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