Kibo clarifies it's still in power purchase discussions with TANESCO

Multi-asset Africa-focused energy and resource company Kibo Mining was forced to respond to media speculation around its relationship with the Tanzania Electric Power Supply Company (TANESCO) on Friday.

The AIM-traded firm said that, contrary to recent reports in the press, its engagement with TANESCO with regard to the development of the Mbeya coal-to-power project remained “unchanged”.

“The company is continuing to advance its discussions with TANESCO regarding the power purchase agreement for the 300MW MCPP,” Kibo’s board said in its statement.