Africa-focused Kibo Energy is continuing to advance the development of its Benga power plant project, in Mozambique.
The company has completed an independent base case financial model and initial findings have demonstrated the economic robustness and viability of Benga under a base case definitive feasibility study (DFS).
Kibo is also continuing to progress the environmental-impact assessment (EIA) and is aligning it with the base case findings of the DFS.
Internal research on renewable energy and storage options have indicated promising opportunities for optimisation in terms of plant availability and limiting greenhouse-gas emissions.
Kibo Energy CEO Louis Coetzee says that while Kibo in the past labelled the project as a thermal coal power project, in reality, it can encompass much more, as the company’s research on renewable energy and storage options indicates.
However, Kibo’s current priority is to complete term sheets for coal supply and power purchase agreements.
The coal supply agreement (CSA) term sheet with a supplier is advancing while the power purchase agreement (PPA) term sheet with a private offtaker for 35% to 40% of generation capacity is also advancing.