KIBO ENERGY PLC - Strategic Collaboration Agreement with General Electric To Develop Energy Projects

Release Date: 29/08/2018 14:25
Code(s): KBO
 
Wrap Text
Strategic Collaboration Agreement with General Electric To Develop Energy Projects

 Kibo Energy PLC (Incorporated in Ireland)
 (Registration Number: 451931)
 (External registration number: 2011/007371/10)
 Share code on the JSE Limited: KBO
 Share code on the AIM: KIBO
 ISIN: IE00B97C0C31
 (“Kibo” or “the Company”)

 Dated: 29 August 2018

                                Kibo Energy PLC (‘Kibo’ or the ‘Company’)
                          Strategic Collaboration Agreement with General Electric
                                         To Develop Energy Projects

Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused, energy company, is pleased to
announce that it has signed a new expanded Collaboration Agreement with USA based General Electric (‘GE’),
one of the world’s leading industrial technology companies, to work with Kibo towards the development of its
portfolio of energy projects in Tanzania, Botswana and Mozambique as well as enhancing its strategy of delivering
power solutions that alleviate Africa’s energy shortage. The Collaboration Agreement was signed while Kibo CEO
Louis Coetzee was attending the annual GE Global Leader and Customer Summit in New York this week.

The key terms of the Collaboration Agreement include that GE will:
     *Provide full technical support for present and future power projects and will be the preferred technology
       partner and supplier to KIBO;
     *Collaborate with KIBO to actively develop, create and facilitate new project opportunities as well as to
       support and work with KIBO in raising funding and funding opportunities for the various Kibo projects
       (“Projects”);
     *Support and assist KIBO with technical and commercial advice in its efforts to secure appropriate Power
       Purchase Agreements (PPA) for the Projects;
     *Work with the Engineering Procurement and Construction (‘EPC’) contractor to optimise design of the
       Projects, including finalising an appropriate partnership and Division of Responsibility (DORI with the
       preferred EPC partner); and
     *Provide social advocacy for Projects with all stakeholders in the various jurisdictions.

Louis Coetzee, CEO of Kibo, said: “The expansion of our agreement with GE is testament to both the quality of
our projects and the strategy we are implementing in Africa to alleviate the acute energy deficit being experienced
by many countries on the continent. We have three active and live projects which all present opportunities to
leverage this agreement and optimise their delivery. We look forward to continued cooperation and delivering on
our current and any potential future energy projects in tandem with GE and our other international partners for
the benefit of all stakeholders.”

                                               **ENDS**


This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no.
596/2014 ("MAR").

 For further information please visit www.kibomining.com or contact:

  Louis Coetzee             info@kibomining.com       Kibo Energy PLC             Chief Executive Officer
  Andreas Lianos            +27 (0) 83 4408365        River Group                 Corporate and Designated
                                                                                  Adviser on JSE

  Ben Tadd /                +44 (0) 20 3700 0093      SVS Securities Limited      Joint Broker
  Tom Curran
 Jon Belliss               +44 (0) 20 7399 9400       Novum Securities Ltd        Joint Broker

 Andrew Thomson            +61 8 9480 2500            RFC Ambrian Limited         NOMAD on AIM

 Priit Piip                +44 (0) 20 7236 1177       St Brides Partners Ltd      Investor and Media
                                                                                  Relations Adviser


Notes to editors
Kibo Energy PLC 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.

Johannesburg
29 August 2018
Corporate and Designated Adviser
River Group

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