Kibo signs an agreement with IGES

Kibo Energy PLC announced that it has entered into an agreement with South Africa-based Industrial Green Solutions (Pty) Ltd (IGES) to jointly develop a portfolio of Waste to Energy projects in South Africa (the Agreement) with an initial target of generating more than 50 megawatts of electricity for sale to industrial users.

The Agreement, which is subject to the satisfaction of certain conditions, is in line with Kibo’s strategy to integrate renewable energy into its project pipeline, which includes three utility-scale power generation and mining projects.

Under the terms of the Agreement, Kibo will own 65% of Newco Energy (Pty) Ltd (‘Newco’), which will hold the Waste to Energy Project Portfolio, with IGES holding 35%. Newco will initially develop a phased c. 8MW project for an industrial client, to be followed by six other projects at different sites, to a total generation of up to 50MW. Initial Project Pipeline comprises of seven projects in place, and will utilize Pyrolysis technologies to convert waste non-recyclable plastics to syngas for the generation of energy.