| Tue 2 Jul 2019, 10:35 | | KIBO ENERGY PLC - Five-Year PPA Executed with Statkraft Markets GmbH for UK Reserve Power Generation Project, Bordersley |
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KBO 201907020038A
Five-Year PPA Executed with Statkraft Markets GmbH
for UK Reserve Power Generation Project, Bordersley
Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO ISIN: IE00B97C0C31
("Kibo" or "the Company")
Dated: 02 July 2019
Kibo Energy PLC (‘Kibo' or the ‘Company')
Five-Year PPA Executed with Statkraft Markets GmbH
for UK Reserve Power Generation Project, Bordersley
Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to announce that
following the RNS' dated 25 and 26 June 2019 in which a five-year PPA with Statkraft Markets GmbH
(‘Statkraft') was announced as well the acquisition of a 100% interest in Bordersley Power Ltd
(‘Bordersley'), that the Statkraft PPA was formally executed on 01 July 2019 between Statkraft and
Bordersley, a private UK registered company and 100 % subsidiary of the Company.
Louis Coetzee, CEO of Kibo Energy, commented: "Executing a PPA with a global player such as
Statkraft is a key deliverable in terms of the overall development plan for Bordersley and critical
towards securing the delivery of a fully operational site by Q1 2020. In parallel to the finalization and
signing of the PPA for Bordersley, Mast Energy Developments Ltd (‘MED') has also reached an
advanced stage in finalizing a framework agreement with Statkraft Markets Gmbh, which will govern
the PPA's for additional MED acquisitions currently in process towards establishment of a MED power
portfolio of at least 100MW. Kibo/MED looks forward to a long and rewarding working relationship
with Statkraft".
**ENDS**
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU)
no. 596/2014.
For further information please visit www.kibo.energy or contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer
Andreas Lianos +27 (0) 83 4408365 River Group Corporate and Designated
Adviser on JSE
Ben Tadd / +44 (0) 20 3700 0093 SVS Securities Limited Joint Broker
Tom Curran
Jason Robertson +44 (0) 20 7374 2212 First Equity Limited Joint Broker
Andrew Thomson +61 8 9480 2500 RFC Ambrian Limited NOMAD on AIM
Isabel de Salis / +44 (0) 20 7236 1177 St Brides Partners Ltd Investor and Media
Gaby Jenner Relations Adviser
Notes
Kibo Energy PLC is a multi-asset, Africa focused, energy company positioned to address the acute
power deficit, which is one of the primary impediments to economic development in Sub-Saharan
Africa. To this end, it is the Company's objective to become a leading independent power producer in
the region.
Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power
Project (‘MCPP') in Tanzania; the Mabesekwa Coal Independent Power Project (‘MCIPP') in Botswana;
and the Benga Independent Power Project (‘BIPP') in Mozambique. By developing these projects in
parallel, the Company intends to leverage considerable economies of scale and timing in respect of
strategic partnerships, procurement, equipment, human capital, execution capability / capacity and
project finance.
Additionally, the Company has a 60% interest in MAST Energy Developments Limited (‘MED'), a
private UK registered company targeting the development and operation of flexible power plants to
service the Reserve Power generation market.
Johannesburg
02 July 2019
Corporate and Designated Adviser
River Group
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