Kibo completes acquisition of 60% interest in MED
Africa-focused energy company Kibo Energy has completed the acquisition of a 60% equity interest in Mast Energy Developments (MED), a private UK registered company targeting the development and operation of flexible power plants to service the reserve power generation market.
MED’s business strategy is to acquire and develop a portfolio of small-scale power generation assets.
Various “shovel ready” sites have already been identified in the UK, capable of sustaining gas-fired power generators and ancillary structures from 20 MW upwards.
The sites have full planning permission and permitting in place, long-term lease agreements, grid and gas connection offers and positive feasibility studies, pertaining to technical and commercial viability.
Kibo will settle the transaction purchase through the issue of 5.71-million new ordinary shares at 5.25p to MED.
“This acquisition provides Kibo with the realistic possibility of near-term revenue generating assets and enables us to combine our knowledge of the power generation market both in mature and emerging markets.
“There is a distinct short-term revenue generating potential in the UK, which is positive for Kibo and importantly all early-stage royalties payable to the sellers will be reinvested in Kibo ordinary equity,” Kibo CEO Louis Coetzee said on Tuesday.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation