Kibo Energy PLC, the Irish-based renewable energy developer, has shared an interim strategy update, providing insights into its commitment to sustainable energy solutions and the current status of its projects in Southern Africa, the UK, and Ireland.
Kibo Energy PLC (AIM: KIBO; AltX: KBO) emphasizes its dedication to being a developer of sustainable clean energy solutions, integrating both established and cutting-edge technologies. The primary objective is to deliver enduring, low- or zero-carbon energy-generation solutions across Southern Africa, the UK, and Ireland.
Despite funding constraints, Kibo has made recent progress in line with its commitment to sustainable energy solutions. Notable operational highlights include:
Kibo’s project portfolio spans various stages of development. Here’s an overview of the current status of key projects:
| Project | Equity Stake | Strategic Domain | Development Status | Current Status |
|---|---|---|---|---|
| MAST Energy Developments (UK) | 57.86% | Reserve Power | Pyebridge (9 MW) | In care and maintenance; CM T-1 contract began on 1 October 2023. Placed in care and maintenance, pending funding. |
| Bordesley (5 MW) | Advanced project development | Ready for construction and awaiting funding. | ||
| Rochdale (4.4 MW) | Advanced project development | Shovel ready and awaiting funding. | ||
| Hindlip Lane (7.5 MW) | Concept stage | Shovel ready and awaiting funding. EPC and O&M contracts under review. | ||
| Stather Road (2.5 MW) | Concept stage | Planning consent granted. EPC and O&M contracts under review. | ||
| Sustineri (SA) | 65% | Waste to Energy CHP project | Advanced project development stage. Financial close ready for Phase 1. Integrated Environmental Authorisation granted. Advanced discussions with a development banking institution for funding. | |
| National Broadband Solutions (SA) | 51% | Long Duration Energy Storage | 12.3 MW in development. Status remains unchanged from previous update, currently under review. | |
| Mbeya Power Project (TZ) | 100% | Biofuel | 300 MW short-term conversion to renewable energy biofuel. TANESCO due diligence ongoing. Negotiations with potential strategic investor underway. | |
| UK Portfolio | 100% | Waste to Energy | Southport (10 MW, 2 MW long-duration energy storage, and 5.5m m3 biomethane) | Status remains unchanged from previous update. Parties continue to seek agreement on further development plan. |
Kibo remains committed to advancing its clean energy projects, with specific milestones and timelines outlined for each project. The company will keep stakeholders informed of any developments beyond Q1 2024.
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