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Kibo Energy PLC

Kibo Energy focused on four key power projects

Snapshot

'We have four key projects which we are developing in parallel'

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Quick facts: Kibo Energy PLC

Price: £0.01

Market: LSE
Market Cap: £5.84 m
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  • Kibo Energy PLC (LON:KIBO) has power generation assets in the UK and Africa

  • Company is expecting to publish DFS on Benga project in Mozambique shortly

  • Building a presence in UK intervention market 

 

What it is developing

Two thermal coal power projects in Botswana (Mabesekwa) and Mozambique (Benga).

A UK focused flexible energy portfolio (MAST)

Advanced coal-to-power project in Tanzania (Mbeya).

Katoro Gold (57.6%), separately listed on AIM and a nickel eplorer in Tanzania

 

How is it doing

Africa 

At Benga ( Mozambique, Kibo 65%) the company is now working on finalising the coal supply agreement and power purchase agreement with private off-takers.

Mabesekwa (Botswana, 85%) is at the feasibility stage, following the completion of a mining scoping study, which highlighted a 30-year life of mine, and a power pre-feasibility study indicating maximum power capacity of 600 megawatts (MW) based on a coal delivery rate of 3.2mln tonnes a year.

At Mbeya in Tanzania, Kibo has received seven new mining rights subject to it remitting all required statutory payments.and it is makinag progress securing offtake deals for any power from the plant.

Kibo also has a collaboration deal with STEAG which envisages a co-operation to develop the AIM-firm’s energy portfolio.

The company said that the partnership with the STEAG Energy Service (SES) group, as independent power producer, brings "world class operating and engineering expertise, experience and capability to Kibo's strategic development capacity". 

 

UK

Mast (60%) has identified various "shovel ready" sites capable of sustaining gas-fired power generators and ancillary structures from 20Mw upwards.

Kibo recently took 100% ownerhsip of 5Mw Bordersley reserve power generation project.

Commercial production scheduled to begin at the end of the first quarter next year (2020).

 

What the boss says

“We have four key projects which we are developing in parallel: two thermal coal power projects in Botswana and Mozambique, a UK focused flexible energy portfolio and an advanced coal-to-power project in Tanzania.

"Each holds significant value, which I don't believe is reflected in the current share price”

 

Video

 

 

Inflection points

  • The definitive feasibility study at Benga to be published after the company received a report earlier than expected in March

  • Power purchase agreements signed for Benga

  • Off-takers for Mbeya signed

  • Bordersley comes onstream in early 2020

 

Blue sky

Designs for Mbeya and Benga chosen as a blueprint for other thermal power station developments in southern Africa

Intervention business in UK to grow substantially

At 0.78p, company is valued at £6.6mln

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Watch

Kibo Energy moving its 'proven projects' into the commercial space

Kibo Energy PLC's (LON:KIBO) Louis Coetzee updates Proactive London's Andrew Scott on progress across their portfolio. The company last week told investors it's been granted seven new mining rights relating to the Mbeya Coal to Power Project (MCPP) in Tanzania. ''The focus for us is...

on 20/8/19

2 min read

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