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Pin to quick picksKibo Energy Share News (KIBO)

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Kibo Energy Mulls Move To African Renewable Energy Projects In Future

Tue, 04th Feb 2020 11:17

(Alliance News) - Kibo Energy PLC said Tuesday it will continue to progress its projects in Africa and the UK, as it looks to start developing more sustainable power projects in the future.

The Africa-focused energy firm said it will advance its three utility-scale power station projects in Africa, which are expected to contribute a significant amount of energy to the continent itself.

In addition, Kibo's UK subsidiary MED remains on track to commission its inaugural flexible power site in Bordersley.

"It goes without saying that the African continent is in dire need of reliable, modern, affordable and sustainable energy given its rapid economic and population growth. As highlighted in a report by the International Energy Agency, today some 600 million people do not have access to electricity and around 900 million people lack access to clean cooking," said Chief Executive Officer Louis Coetzee.

"In the short to medium term, clean coal projects must continue to play a key role in providing power to help fill the immediate needs given it is still the cheapest, most reliable electrical energy source. However, it is imperative in the mid to longer term to deliver sustainable power projects. Kibo has taken on this challenge and aims to lead from the front, integrating renewable technology with the traditional base load generation solutions in a practical and affordable manner," Coetzee added.

Shares in Kibo Energy - which is based in Galway, Ireland - were down 2.4% at 0.488 pence on Tuesday in London, while its Johannesburg shares remained untraded at ZAR0.11.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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22 May 2023 18:16

IN BRIEF: Mast Energy allots shares to institutional investors

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18 May 2023 15:14

Kibo Energy reports progress on Mbeya Power Project deal

(Sharecast News) - Shares in renewable power developer Kibo Energy surged on Thursday, after it updated the market on its Mbeya Power Project (MPP).

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Mast Energy Developments shares jump after joint venture announcement

(Alliance News) - Shares in Mast Energy Developments soared by over 50% on Thursday after it agreed to a joint venture to create a 50 megawatt portfolio of gas peaker plants.

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Kibo Energy makes progress in pilot tests for biofuel projects

(Alliance News) - Kibo Energy PLC said on Tuesday it has made "significant progress" in pilot tests for its biofuel projects in southern Africa.

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28 Apr 2023 13:19

Mast Energy shares fall after cash crunch warning, dragging down Kibo

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Kibo Energy takes steps to secure development plans

(Alliance News) - Kibo Energy PLC said on Tuesday it was taking steps in warrant repricing, convertible loan conversion and loan reprofiling to ensure financial stability.

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6 Apr 2023 17:12

IN BRIEF: Kibo Energy remains confident of project deadlines for 2023

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(Sharecast News) - Kibo Energy announced the appointment of Peter Oldacre as its new group business development executive on Friday, as part of its executive committee.

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IN BRIEF: Kibo Energy names new business development executive

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: Kibo's Mast Energy wins new capacity market contracts in UK

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