Kibo advancing PPA discussions for Mozambique projects
A grid impact assessment and integration study for multi-asset energy company Kibo Energy's Benga power plant project (BPPP), in Mozambique, has been completed and submitted to power utility Electricidade de Moçambique (EDM).
This forms part of the definitive feasibility study optimisation and financial model integration for the BPPP, the company reports.
Kibo is seeking to secure an agreement to supply EDM with about 150 MW from the BPPP.
Kibo also has a binding term sheet to supply Baobab Resources' Tete steel and vanadium project, in Mozambique, with about 200 MW of energy from the Baobab power station project.
Negotiations with EDM and Baobab regarding potential power purchase agreements (PPAs) are under way and are expected to be completed by the end of this year and at the start of the fourth quarter, respectively.
Meanwhile, a technical and financial feasibility review of the Baobab project has been completed and an integration study to assess the feasibility of a combined 400 MW project, including BPPP and the Baobab project, has been commissioned.
"We are extremely pleased with the progress being made in Mozambique, which will eventually culminate in at least two PPAs totalling about 350 MW to 400 MW.
"Our development options currently remain open as to whether we build one power plant to fulfil both supply agreements or two separate plants to service Baobab and EDM independently and we look forward to finalising the integration study to better assess and define the optimal approach in this regard.
"Either way both agreements will continue to progress at pace, unencumbered by the other, so that we can realise meaningful value for our shareholders and our power clients," says Kibo CEO Louis Coetzee.
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