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KIBO ENERGY PLC - Update on Benga Power Plant Project

Release Date: 09/05/2019 07:30
Code(s): KBO     PDF:  
Wrap Text
Update on Benga Power Plant Project

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: 8 May 2019
                             Kibo Energy PLC (‘Kibo’ or the ‘Company’)
                                 Update on Benga Power Plant Project


Kibo Energy PLC, the multi-asset energy company, is pleased to announce an update on its Benga Power Plant
Project in Mozambique (‘Benga’ or ‘the Project’).


The Company is advancing the development of its 65% owned Benga Power Plant Project in Joint Venture
with Mozambique energy company Termoeléctrica de Benga S.A, with a view to constructing and operating a
150-300 MW coal-fired power station with feedstock provided by regional coal producers. In line with this, the
Company has presented the Definitive Feasibility Study (‘DFS’) for the Project to the Ministry of Energy and
EDM, Mozambique's publicly owned electricity company. Additionally, under the terms of the existing MOU,
power purchase agreement (“PPA”) discussions with EDM continue to progress as do those with potential
private off-takers.


Louis Coetzee, CEO of Kibo, said: “Working in Mozambique has been notably straightforward as evidenced
by the timely advancement of Benga which is currently advancing well ahead of the Company’s development
schedule for the project. The project is gaining increasing recognition as a notable energy project in
Mozambique and the support and feedback we have received on the Project so far is highly encouraging. We
look forward to updating the market further on our progress including negotiations on the PPA.”

                                             **ENDS**

For further information please visit www.kibo.energy or contact:

 Louis Coetzee            info@kibo.energy          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
 Jason Robertson          +44 (0) 20 7374 2212      First Equity Limited       Joint Broker
 Andrew Thomson           +61 8 9480 2500           RFC Ambrian Limited        NOMAD on AIM

 Isabel de Salis /        +44 (0) 20 7236 1177      St Brides Partners Ltd     Investor       and    Media
 Gaby Jenner                                                                   Relations Adviser
Notes to editors
Kibo Energy PLC is a multi-asset energy company focused on progressing a diverse portfolio of advanced power
generation and mining projects in Sub-Saharan Africa and the UK, utilising established international relationships
with key development partners. It is simultaneously developing three coal-fuelled power projects in Africa: the
Benga Independent Power Project in Mozambique; the Mabesekwa Coal Independent Power Project in Botswana;
and the Mbeya Coal to Power Project in Tanzania. Additionally, the Company has a 60% interest in MAST Energy
Developments Limited, a private UK registered company targeting the development and operation of flexible
power plants to service the Reserve Power generation market.

Johannesburg
8 May 2019
Corporate and Designated Adviser
River Group

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