Kibo Energy plc (“Kibo” or the “Company”) is a multi-asset, Africa focussed, 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 will benefit from its robust and experienced international blue-chip partnership network across its project portfolio, which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting (South Africa); ABSA / Barclays Africa); and Hogan Lovells International LLP.
Kibo’s strategy for Mbeya is closely aligned with the interests of the Tanzanian government, which has an urgent requirement for new sources of power to support its rapid growth. We will leverage our expertise and existing stakeholder relationships – technical, financial and governmental – to advance Mbeya through to production and power generation. Important steps on this development path were realised during 2014 with the commencement of a Definitive Feasibility Study (DFS) on the project and the completion of preliminary DFS technical and financial reports, the results from which were very favourable to a successful development.
Kibo’s diversified asset portfolio gives investors exposure to short-term, medium-term and long-term returns and provides the Company with options in terms of developing assets internally, joint-venturing or realising value through asset disposals on attractive terms.
Please refer to the RNS news releases in the News Section of the website and Webcasts in the Investor Relations Section for the latest updates on progress across all Kibo’s projects.