Tanzania Electric Supply Company (Tanesco) has signed a $500 million power purchase agreement with mining firm Kibo. Under the new deal, Kibo will supply 300MW from its Mbeya plant to the national grid.
Kibo chief executive Louis Coetzee said the firm hopes to complete funding arrangements for construction and commissioning of a Managed Co-Lending Portfolio Programme (MCPP) during the second half of 2018, after which power generation can commence in 36 months.
“We will continue to work closely with all the relevant parties and remain positive that the Ministry of Energy will honour its commitment to deliver signed a power purchase agreement by the end of the first quarter,” Mr Coetzee said.
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