Kibo Energy PLC (LON:KIBO) has reported good progress at electricity-generating projects in both the UK and Mozambique.
UK reserve power subsidiary MAST is negotiating development agreements at two gas-fired sites that will come on stream at the end of this year and early next and sell into the UK grid.
READ: Kibo’s Louis Coetzee updates shareholders on recent progress across portfolio of energy projects
Rights for a third site have been extended until March.
In Mozambique, the definitive feasibility for the Benga coal-fired power station is well ahead of schedule, Kibo added, with the priority now to sign agreements with coal suppliers and electricity buyers.
Louis Coetzee, chief executive, added he was delighted with the rapid progress being made at Benga, which will help alleviate the critical energy shortages in Mozambique.
Kibo owns 65% of the 150-300Mw coal-fired power Benga development with local power group Termoeléctrica its partner.