JOHANNESBURG - Resources company Kibo Energy says the definitive feasibility study (DFS) of its Benga power plant project in Mozambique has been completed ahead of schedule and a final review is in progress.
The company is advancing the development of the project, in which it has a 65 percent stake, in a joint venture with Mozambican energy company Termoeléctrica de Benga S.A.
In an update posted on the Johannesburg Stock Exchange's news service on Friday, the company said coal purchase agreements with producers were at an advanced stage and progressing well and a meeting was planned for April with Mozambique’s publicly owned electricity company EDM.
"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 said.
"The fact that we are already discussing commercial power off-take 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 off-takers’ requirements."