https://www.miningweekly.com
Coal|Energy|Power|PROJECT|Projects
Coal|Energy|Power|PROJECT|Projects
coal|energy|power|project|projects

Kibo, Edenville’s shares knocked by Tanesco bid rejection

Kibo's drilling at the Mbeya coal-to-power project, in Tanzania

Kibo's drilling at the Mbeya coal-to-power project, in Tanzania

14th February 2019

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

The share prices of Kibo Energy and Edenville Energy took a knock on Thursday after the companies announced that they had not qualified to participate in the next stage of a bidding process by the Tanzania Electricity Supply Company (Tanesco) to develop coal power projects with a total capacity of 600 MW.

Aim- and AltX-listed Kibo’s share price on the LSE fell by 47.76% on the news, while its share price on the JSE fell by 31.58%.

Aim-listed Edenville’s share price on the LSE, meanwhile, fell by 32.43%.

Kibo is developing the 300 MW Mbeya coal-to-power project, in Tanzania, and Edenville the Rukwa coal-to-power project in the country. Both companies noted that Tanesco had not provided a reason for its decision not to include them in the next stage of the bidding process.

Kibo said it was seeking urgent clarification and explanation from Tanesco regarding its decision. The company will then consider its next course of action.

Kibo and Edenville in December resubmitted their respective tender qualification documents to Tanesco, following troubles with the process from Tanesco’s side.

The request for qualification called for an undertaking to conduct a feasibility study, finance, build, own, operate and transfer coal power projects of a capacity not less than 150 MW and not more than 300 MW in one location.   

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.152 0.189s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: