Kibo upgrades MCPP MoU

Aim-listed minerals and exploration development company Kibo Energy has upgraded its existing Memorandum of Understanding (MoU) with the Tanzania Ministry of Energy and the Tanzania Electric Supply Company (Tanesco), regarding a power purchase agreement (PPA) for the development and implementation of the Mbeya coal-to-power project (MCPP), to provide a more streamlined process with materially shorter time lines for PPA finalisation. All stakeholders have recognised that the development and implementation of a PPA for the MCPP must be expedited, given significant delays over the past year, as well as the strategic importance of the MCPP.