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KIbo Energy sees prospects underpinned by structural power shortage

“Our four projects are directly positioned to address major energy issues in Africa and closer to home in the UK,”

Kibo Energy PLC - KIbo Energy sees prospects underpinned by structural power shortage

Kibo Energy PLC (LON:KIBO) expects a growing global power shortage to underpin the power projects it has under development.

“Our four projects are directly positioned to address major energy issues in Africa and closer to home in the UK,” said chairman Christian Schaffalitzky.

Kibo is developing coal-fired stations at Mbeya in Tanzania, Benga and Mabesekwa in Botswana and intervention supplies through Mast in the UK.

“Africa already suffers from serious energy shortages, while recently in August the UK suffered major power cuts resulting from a storm,” said Schaffalitzky.

Kibo recently restructured its holding in Mabesekwa, which it gave it 35-40% stake in another power plant to be built using the coal resource on the licence.

Losses in the half-year to June rose to £1.82mln from £1.33mln.

Quick facts: Kibo Energy PLC

Price: 0.235 GBX

LSE:KIBO
Market: LSE
Market Cap: £2.99 m
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