Kibo Energy renews MoU for 300 MW Steam power project in Tanzania

Kibo Energy PLC has signed a renewed Memorandum of Understanding (MOU) with Tanzania Electric Supply Company Limited (TANESCO) for the development of the Mbeya Power Project in Tanzania.

Under the renewed agreement, TANESCO will purchase power with a capacity of 300 MW from Mbeya Power Limited (MPL), a subsidiary of Kibo. The MoU also includes the design, development, financing, construction, commissioning and operation of the steam powered project.

The company also explores the possibility of introducing bio-fuel as a possible substitute fuel source for the Project, which if proven feasible, will convert the project into a carbon neutral project.