Wrap Text
Update on MCPP in Tanzania
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: 19 October 2018
Kibo Energy PLC (‘Kibo’ or the ‘Company’)
Update on MCPP in Tanzania
Kibo Energy PLC (‘Kibo’ or the ‘Company’), the multi-asset, Africa focused energy company, is pleased to
announce that it has submitted its formal tender qualification document (‘TQD’) to the Tanzania Electricity
Supply Company (‘TANESCO’) with regards to the Mbeya Coal to Power Project (“MCPP”). This is in line
with the Tanzanian Government’s new initiative regarding the development of independent power projects.
Louis Coetzee, CEO of Kibo, said, “Our visionary development approach has allowed us to develop and forge
critical strategic partnerships very early on in the process and having done all the definitive feasibility studies,
financial modelling, technical development work and environmental and social impact assessment certification
well in advance, we have been able to submit a TQD of exceptionally high standard and substance in a very
short space of time; we believe that this will stand us in good stead. We are now waiting for a definitive date
for completion of Stage 1 from TANESCO but expect this to be completed before end of 2018.”
Further Details
The Company’s subsidiary, Mbeya Power Ltd, was invited to tender for power generation of up to 600MW of
coal power following the issue of a Request for Qualification (‘RFQ’) as the first of a two-stage competitive
bidding process on 18 September 2018. The RFQ called for an undertaking to do a feasibility study, finance,
build, own, operate and transfer coal power projects of a capacity not less than 150MW and not more than 300
MW in one location.
The procurement process and status is outlined below:
*Stage 1: Submission of a TQD, in response to RFQ, by 19 October 2018 followed by RFQ pre-
qualification notification to successful applicants
-Mbeya Power Ltd completed a comprehensive TQD in cooperation with SEPCOIII and General
Electric South Africa in a Joint Bidding Agreement, supported by Technical Adviser, Tractebel
Engie and Legal Advisers, Hogan Lovells and Norton Rose Fulbright.
-A definitive date for completion of Stage 1 is expected from TANESCO before the end of 2018.
*Stage 2: Request for Proposal (‘RFP’) and submission of a formal proposal by shortlisted bidders –
the expected process is as follows:
-Release of RFP
-Pre-bid meeting (14 days after releasing RFP)
-Evaluation of technical bid proposals, clarification of technical bid proposals and selection of
bidders that fulfil technical requirements
-Financial evaluation and negotiations, expected to be inclusive of Power Purchase Agreement
(‘PPA’), implementation and development agreement
-Issuance of Letters of Intention to Award to successful bidders
-Approvals and necessary clearance
-Issuance of Letters of Award
-Signature of project agreements
**ENDS**
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no.
596/2014 ("MAR").
For further information please visit www.kibo.energy or contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer
Corporate and Designated
Andreas Lianos +27 (0) 83 4408365 River Group
Adviser on JSE
Ben Tadd /Tom Curran +44 (0) 20 3700 0093 SVS Securities Limited Joint Broker
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 / Investor and Media
+44 (0) 20 7236 1177 St Brides Partners Ltd
Gaby Jenner Relations Adviser
Notes to editors
Kibo Energy PLC is a multi-asset, Africa focused 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
19 October 2018
Corporate and Designated Adviser
River Group
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