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Edenville Energy in process of handing over Tanzania operations

Edenville Energy to update shareholders when takeover agreed

Edenville Energy (AIM:EDL) reported on Wednesday morning that the company is set to continue working alongside Infrastructure and Logistics Tanzania (ILTL) on the proposed handover of operations at Rukwa.

The company announced it will inform its shareholders when the official handover date is agreed.

In the meantime, the AIM-listed company confirmed its existing contracts, in addition to pursuing new contracts with existing and new customers.

Edenville “has received new East African enquiries regarding power generation capacity and is continuing discussions with the Tanzanian Government regarding a future power plant development at Rukwa”, the board confirmed in a statement.

Edenville Energy’s share price opened down on the firm’s announcement but then rebounded back to the level of yesterday’s close, to 33.5p per share. Year-to-date, the company’s shares are up by over 20%.

At the end of January 2021, Edenville Energy’s share price jumped by 16% as the coal mining company announced a fundraising.

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