Kibo to focus on technical works, PPAs for its projects during 2019
With 580-million Africans still reliant on inefficient, unreliable and expensive energy sources, if any, Aim- and JSE-listed Kibo Energy will, this year, remain focused on the market opportunity this represents.
This year will see Kibo fast-track the remaining technical work to complete an integrated bankable feasibility study for its Mabesekwa coal independent power project, in Botswana, for which water, land and environmental permits, a prefeasibility study, and an application for a mining licence were finalized in 2018.
Kibo CEO Louis Coetzee stated in a release on Monday that promising commercial opportunities were presented to the company during December, around the Mabesekwa project, which the company would pursue.
Meanwhile, a full feasibility study is progressing for the 150 MW to 300 MW Benga independent power project, in Mozambique, while power purchase agreement (PPA) discussions with prospective offtakers continue to advance and are being prioritised for the first quarter of the year.
Additionally, after the PPA for the Mbeya coal-to-power project with the Tanzanian Electric Supply Company had been delayed late last year, Kibo hoped to agree on a PPA this year, which should lead to the commissioning of a 300 MW mouth-of-mine thermal power station.
Late in 2018, Kibo also acquired a 60% interest in MAST Energy Development (MED) – a private UK-registered company targeting the development and operation of flexible power plants to service the reserve power generation market.
Before year-end, MED had secured an exclusive option to acquire three peaking power sites totalling 31.3 MW, which have the potential to lead to revenue generation for Kibo in the latter part of this year.
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