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Mast Energy Developments PLC - developer of reserve power generation plants - Starts to refurbish its second generator set, or genset, at its Pyebridge flexible power plant in Derbyshire, England. Says RiverFort Global Opportunities PCC Ltd has agreed to provide GBP1.1 million to fund this second genset overhaul, as part of a third advance against the project finance agreement. In February, RiverFort committed to an initial funding facility up to GBP4.0 million.
The first refurbished genset started commercial operation early last month. Once the work on the second genset has been completed, Pyebridge will have two 2.7-megawatt refurbished gensets operating and generating at optimum capacity and performance, Mast says. The plan remains to overhaul the remaining third genset in due course.
Kibo Energy PLC holds a 55% stake in Mast Energy.
Current Mast stock price in London: 0.17 pence, up 3.0% Tuesday morning
12-month change: down 89%
Current Kibo stock price in London: 0.013p
12-month change: down 79%
Current Kibo stock price in Johannesburg: 0.01 rand cent
12-month change: down 50%
By Artwell Dlamini, Alliance News reporter
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