Kibo Energy PLC Completion of Agreement with IGES (9716G)
July 30 2021 - 2:00AM
UK Regulatory
TIDMKIBO
RNS Number : 9716G
Kibo Energy PLC
30 July 2021
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: 30 July 2021
Kibo Energy PLC ('Kibo' or the 'Company')
Completion of Agreement with Industrial Green Energy (Pty) LTD
to Co-develop Renewable Energy Projects in South Africa
Kibo Energy PLC, the multi-asset, African focused energy
company, is pleased to announce that further to its previous
announcements in this regard (see RNS' dated 18 May 2021 and 16
June 2021), it has now satisfied all conditions and completed the
agreement with South Africa-based Industrial Green Energy Solutions
(Pty) Ltd ('IGES') ( https://www.industrialgreenenergy.com/ ) to
jointly develop a portfolio of Waste to Energy projects in South
Africa ('the Agreement'). Kibo and IGES have entered into an
amendment (the 'Amendment') to fast track the implementation of the
first project.
Completion of the Agreement and Amendment follows the positive
findings of an extensive due diligence process.
Louis Coetzee, CEO of KIBO said: "We are very pleased with the
completion of the Agreement with IGES, and the Amendment provides
us with the opportunity to streamline and fast track the further
implementation and development of the first project."
**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 Chief Executive Officer
PLC
Andreas Lianos +357 99 53 1107 River Group JSE Corporate and Designated
Adviser
---------------------------- ------------------- -----------------------------
Claire Noyce +44 (0) 20 3764 Hybridan LLP Broker
2341
---------------------------- ------------------- -----------------------------
Bhavesh Patel +44 20 3440 6800 RFC Ambrian NOMAD on AIM
/ Stephen Allen Ltd
---------------------------- ------------------- -----------------------------
Isabel de Salis info@stbridespartners.co.uk St Brides Partners Investor and Media Relations
/ Charlotte Hollinshead Ltd 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.
Johannesburg
30 July 2021
Corporate and Designated Adviser
River Group
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END
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