KIBO ENERGY PLC - Update on MCPP in Tanzania

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: 14 February 2019

                               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, has today
  received written notice from the Tanzania Electricity Supply Company (“TANESCO”), informing the
  Company, without providing reasons or explanation, that it did not qualify to compete in the next stage of the
  bidding process under TENDER No. PA/001/2018-19/HQ/N/033. TANESCO announced the tender during
  Q3 2018 and called for tender qualification applications by interested parties to develop some of the planned
  Coal Power Projects with a total capacity of 600MW (see RNS’ dated 18 September 2018, 26 September
  2018, 07 November 2018 and 07 December 2018 respectively).



  Louis Coetzee, CEO of Kibo, said, “TANESCO did not supply the Company with ANY reasons / explanation
  for its decision in their notification letter. The Company is currently seeking very urgent clarification and
  explanation from TANESCO in this regard, whereafter the Company will consider its next course of action.
  The Company will provide the market with a further update as soon as more information becomes available.”


                                                   **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 focussed, 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.


Additionally, the Company has a 60% interest in MAST Energy Developments Limited (‘MED’), a private UK
registered company targeting the development and operation of flexible power plants to service the Reserve
Power generation market.


Johannesburg
14 February 2019
Corporate and Designated Adviser
River Group

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