Recent Tanesco Announcement

RNS Number : 2448G

Edenville Energy PLC

02 November 2018

 

2 November 2018

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

Recent Tanesco Announcement - Notice of Cancellation of Tenders

Edenville Energy plc (AIM: EDL), the company developing a coal project in southwest Tanzania, would like to comment on the recent newspaper announcement by Tanesco which refers to the cancellation of specific tenders in relation to power supply.

Below is the text from the Tanesco announcement in today's Tanzanian press:

"This is to inform the general public that due to unavoidable circumstances and pursuant to Section 59 sub section 2(f) of the Public Procurement Act 2011 and its amendment 2016, TANESCO with immediate effect has cancelled the tender proceedings for the following invitations for qualifications Information (IFQs): - Tender Ref. No. PA/001/2018-19/HQ/N/032 for Qualification of Large Solar Power Generating Projects, Tender Ref. No. PA/001/2018-19/HQ/N/033 for Qualification of Coal Fired Generating Projects and PA/001/2018-19/HQ/N/034 for Qualification of Large Wind Power Generating Projects.

The abovementioned Tenders have been cancelled and remain annulled with immediate effect.

The Management is working on next cause of action to execute these Tenders.

Any inconvenience that might be caused by this Notice is highly regretted.

THE MANAGING DIRECTOR TANZANIA ELECTRIC SUPPLY COMPANY LTD"

Commenting, Rufus Short, CEO of Edenville said, "Whilst this announcement and its effect may delay the tender process we do not believe this to be a significantly negative situation for our project or the future of coal to power generation in Tanzania. It should be noted that all sectors, Coal, Solar and Wind have been cancelled at this time. Our initial enquiries to Tanesco imply technical issues to be resolved in order for the process to continue. Once Tanesco  have resolved these areas we expect the process to continue. I would also like to make clear that this does not affect our recently commissioned mining operations at our Rukwa site which are continuing to grow to meet the demand for coal in Tanzania and the region."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information please contact:

Edenville Energy Plc Jeff Malaihollo - Chairman Rufus Short - CEO	[phone]
Northland Capital Partners Limited (Nominated Adviser and Broker) David Hignell Gerry Beaney Jamie Spotswood	[phone]
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong	[phone]

 

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