Kibo Energy PLC Unveils Strategic Developments in Clean Energy Portfolio

  • Strategic Commitment: Kibo Energy PLC reaffirms its dedication to sustainable clean energy solutions, integrating cutting-edge technologies for development.
  • Operational Progress: Despite funding constraints, Kibo advances key projects, including a bio-coal pilot plant and waste-to-energy initiatives.
  • Project Portfolio Overview: The company provides a snapshot of its diversified project portfolio across the UK, Southern Africa, and Ireland.

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.

Strategic Focus on Sustainable Clean Energy Solutions

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.

Operational Advancements

Despite funding constraints, Kibo has made recent progress in line with its commitment to sustainable energy solutions. Notable operational highlights include:

  1. Bio-Coal Pilot Plant Collaboration:
    • Kibo is in the process of formulating a joint development agreement with a multinational food and beverage producer.
    • The collaboration aims to build and operate a pilot plant for bio-coal production. The initiative aligns with Environmental, Social, and Governance (ESG) compliance standards.
    • The funding for this venture is intended to be shared equally between Kibo and the client, with the potential to transition the client from fossil coal to bio-coal in its boiler fleet.
  2. Waste-to-Energy Project Funding:
    • The company has received conditional preliminary approval for development funding from a prominent Southern African development banking institution.
    • The funding is earmarked for one of Kibo’s existing waste-to-energy projects, subject to due diligence.

Project Portfolio Overview

Kibo’s project portfolio spans various stages of development. Here’s an overview of the current status of key projects:

ProjectEquity StakeStrategic DomainDevelopment StatusCurrent Status
MAST Energy Developments (UK)57.86%Reserve PowerPyebridge (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 developmentReady for construction and awaiting funding.
Rochdale (4.4 MW)Advanced project developmentShovel ready and awaiting funding.
Hindlip Lane (7.5 MW)Concept stageShovel ready and awaiting funding. EPC and O&M contracts under review.
Stather Road (2.5 MW)Concept stagePlanning consent granted. EPC and O&M contracts under review.
Sustineri (SA)65%Waste to Energy CHP projectAdvanced 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 Storage12.3 MW in development. Status remains unchanged from previous update, currently under review.
Mbeya Power Project (TZ)100%Biofuel300 MW short-term conversion to renewable energy biofuel. TANESCO due diligence ongoing. Negotiations with potential strategic investor underway.
UK Portfolio100%Waste to EnergySouthport (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.

Outlook and Future Milestones

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.