Kibo progresses funding for UK waste gasification, power plant acquisition

23rd September 2021 By: Simone Liedtke - Writer

Renewable energy focused developer Kibo Energy is now in receipt of formal term sheets for the funding required to buy a 54.54% interest in the MWe Billingham waste gasification and power plant in the UK.

The aggregate amount of funding offered to the company under the term sheets exceeds the total funding requirement of £3-million for the transaction with Aim-listed energy company EQTEC.

The potential funders and the company will now proceed with customary due diligence and approval procedures.

Kibo anticipates formal funding agreements to be completed contemporaneously with the completion of the transaction.