leadf
logo-loader
viewKibo Energy PLC

Kibo Energy inks collaboration with STEAG

“We are pleased to have the confidence of SES which is testament to the progress and value proposition of the Kibo Energy project portfolio,” said Louis Coetzee, Kibo chairman.

deal and handshake
It is described as a "significant step"

Kibo Energy PLC (LON:KIBO) has inked 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, is a "significant step in incorporating world class operating and engineering expertise, experience and capability to Kibo's strategic development capacity". 

It noted that the SES portfolio includes a wide range of power generation technology including amongst others fossil fuel and renewable energies.

READ: Kibo surges as application for Mbeya licence is converted

“We are pleased to have the confidence of SES which is testament to the progress and value proposition of the Kibo Energy project portfolio,” said Louis Coetzee, Kibo chairman.

“Kibo will benefit greatly from the experience of SES, specifically in respect of managing and operating utility scale power plants.

“Should SES be awarded an O & M contract on any of the Kibo projects we are confident that the quality, intensity and dedication that SES employ on their own power projects would be replicated on Kibo's to great benefit.

“What is perhaps most exciting is the depth of knowledge and wide range of skills and experience that SES brings with them. SES is a leading contributor in the implementation of sustainable energy solutions.”

Coetzee added: “The company has recently taken great strides forward in strengthening and increasing its strategic capacity and capability for the successful delivery of the projects currently in its portfolio, but equally important, to enable the continued growth of the portfolio.

“In this regard we are particularly encouraged by recent feedback from the company's two biggest shareholders stating their continued support to the company and their intention to continue holding their substantial holdings in Kibo."

Quick facts: Kibo Energy PLC

Price: 0.261 GBX

LSE:KIBO
Market: LSE
Market Cap: £5.8 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Alpha Growth's BlackOak Alpha Growth Fund generates positive returns despite...

Alpha Growth PLC (LON:ALGW) (OTCQB: ALPGF) CEO Gobind Sahney tells Proactive the financial services specialist's BlackOak Alpha Growth Fund produced a 2020 calendar year return of 10.63% and a 13.71% total return since inception in September 2019. Sahney says given the challenges of 2020, its...

1 day, 10 hours ago

2 min read