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Kibo Energy has noted progress with the development of its Benga power plant project, in Mozambique.
A definitive feasibility study (DFS) has been completed ahead of schedule and the final review is in progress.
The negotiation of coal purchase agreements with coal producers are at an advanced stage, with a fully developed term sheet with one producer currently under review.
A meeting is planned for early April with power utility Electricidade de Moçambique (EdM) to present the final DFS and further engage on power purchase agreement (PPA) negotiations, building on the existing memorandum of understanding (MoU), which was recently renewed and expanded.
PPA discussions with potential private offtakers are also at an advanced stage, Kibo reported this week.
Moreover, the assessment of integration of renewable technologies at the project is being conducted.
Kibo is investigating the practical integration of renewable energy and associated technologies within the future Benga power station. It is considering the potential use of solar energy, combined with energy storage solutions, as an integrated solution for power back-up.
The Benga project entails the proposed construction and operation of a 150 MW to 300 MW coal-fired power station with feedstock provided by regional coal producers.
“We are encouraged by the rapid progress of the Benga project, as well as the quality work performed by the project team and consultants,” Kibo CEO Louis Coetzee commented in a release to shareholders.
“The fact that we are already discussing commercial power offtake [agreements] and being able to progressively integrate the outcomes with the technical work of the DFS, allows us to align the power station design accurately with offtakers’ requirements.
“Additionally, the integration of renewable technologies is an exciting add-on to the project. We are confident that this, combined with Kibo’s focus on clean-burning coal-fired power generation, will put the company at the forefront of development in this regard.”source: Creamer Media