Kibo Energy submits formal tender document in Tanzania

Kibo Energy (CDI)

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Multi-asset, Africa focused energy company Kibo Energy has submitted its formal tender qualification document to the Tanzania Electricity Supply Company (TANESCO) for the Mbeya coal -to-power project, it announced on Friday.

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The AIM-traded firm said that was in line with the Tanzanian Government's new initiative regarding the development of independent power projects.

“Our visionary development approach has allowed us to develop and forge critical strategic partnerships very early on in the process,” said Kibo chief executive officer Louis Coetzee.

“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, submitting our TQD 24 hours ahead of the submission deadline.”

Coetzee said he believed that would stand the company in good stead.

“We are now waiting for a definitive date for completion of Phase 1 from TANESCO but expect this to be completed before end of 2018.”