Kibo Mining’s agreement follows a memorandum of understanding (MOU) announced on 16 September 2016 and sets out the terms and conditions of said collaboration into a binding agreement.
The agreement provides for GE and its affiliate companies to supply equipment, technology and services to the MCPP power plant, in addition to assisting and co-operating with Kibo Mining to implement the project.
“We are extremely pleased that we have now finalised this agreement with GE and cemented our relationship in a binding document. Since signing the MOU, Kibo and GE have collaborated on advancing development work on the MCPP, from which the project has benefited greatly,” says Kibo Mining CEO Louis Coetzee.
“As one of the largest and technologically advanced international companies, we are looking forward to growing this relationship. By working closely with GE, we will benefit from their experience and reputation and this will expedite the remaining work required to reach successful financial close on the MCPP,” he adds.
George Njenga, GE’s steam power systems sales executive for Africa, says GE is delighted to partner with Kibo on the Mbeya power project. “We offer the best in class power generation technology and services and we employ GE Digital and Environmental Control Solutions, which make our steam plants smarter and cleaner.”