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Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Signs a renewed memorandum of understanding to supply power to Tanzania Electric Supply Co Ltd from its Mbeya power project. This project was first announced in February 2018. In terms of the renewed power purchase agreement, TANESCO will buy power with a capacity of 300 megawatts from Mbeya Power Ltd, a subsidiary of Kibo.
‘We are delighted to see this robust flagship project revived. The renewed MOU provides Kibo with an exciting opportunity to resume co-operation with TANESCO in making a contribution towards addressing Tanzania’s extensive and urgent energy needs,’ says Kibo Chief Executive Louis Coetzee.
London current stock price: 0.17 pence, down 2.7%
12-month change: down 26%
Johannesburg current stock price: R 0.04
12-month change: down 50%
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