JSE- and Aim-listed Kibo Energy has renewed and expanded its memorandum of understanding with Mozambican State-owned electricity utility Electricidade de Mocambique (EDM), to advance the financing, construction and operation of the Benga coal independent power project, in Mozambique.
Kibo CEO Louis Coetzee said in a release on Wednesday that the Benga development is advancing according to plan, with a feasibility study progressing well to confirm its commercial and operational viability.
Kibo and its joint venture partner, Mozambique energy company Termoeléctrica de Benga, are developing the Benga project, which includes the construction and operation of a 150 MW to 300 MW coal-fired power station.
“The renewal and expansion of the agreement with EDM is demonstrative of the significant local stakeholder support for the project,” noted Coetzee.