Mast Energy Developments PLC - developer of reserve power generation plants - Expects the first generator set at its 9-megawatt Pyebridge flexible power plant in Derbyshire to start commercial operations and revenue generation around end of this month, in line with the expected timeline. The second phase work programme to refurbish this first genset is progressing well, Mast says. Back in April, it had said the phase two work would be performed in separate consecutive tranches and was expected to take around six to eight weeks per genset.
Mast Energy expects to bid for and secure an additional T-1 capacity market contract for the 2025-26 delivery year in the next auction. Also expects to apply for the maximum 15-year term and capacity T-4 capacity market contract in due course. Says Pyebridge will keep receiving its current capacity market contract's associated annual gross profit margin income of GBP308,000 from the UK government.
Kibo Energy PLC holds a 55% stake in Mast Energy.
Mast stock price in London: 0.16 pence, up 9.7% early Thursday
12-month change: down 89%
Kibo stock price in London: 0.021p
12-month change: down 65%
Kibo stock price in Johannesburg: 0.01 rand cent
12-month change: down 50%
By Artwell Dlamini, Alliance News reporter
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Mast Energy. (MAST)
Kibo Energy (KIBO)
