Aim- and AltX-listed Kibo Energy has entered into an expanded collaboration agreement with US-based General Electric (GE).
Under the terms of the agreement, GE will work with Kibo to develop its portfolio of energy projects in Tanzania, Botswana and Mozambique, as well as enhance its strategy of delivering energy solutions to alleviate the continent's energy shortage.
GE is expected to provide full technical support for present and future power projects and it will be the preferred technology partner and supplier to Kibo.
It will also collaborate with Kibo to actively develop, create and facilitate new project opportunities, as well as support and work with Kibo on funding opportunities for Kibo's various projects.
Further, it will support and assist Kibo with technical and commercial advice in its efforts to secure appropriate power purchase agreements for the projects; work with the engineering, procurement and construction contractor to optimise the design of the projects; and provide social advocacy for Kibo's projects with all stakeholders in the various jurisdictions.
"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 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," Kibo CEO Louis Coetzee commented on Wednesday.
Kibo is developing the Mbeya coal-to-power project, in Tanzania; the Mabesekwa independent coal-to-power project, in Botswana; and the Benga independent power project, in Mozambique.