Kibo Energy, the London AIM and JSE-listed Africa-focused energy development company, says its 55 percent held subsidiary MAST Energy Developments (MED), has acquired a third standby 4.4 megawatt gas-powered standby generation facility in the UK.
Kibo is developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project in Tanzania; the Mabesekwa Coal Independent Power Project in Botswana; and the Benga Independent Power Project in Mozambique.
The company aims to leverage strategic partnerships, procurement, equipment, human capital, execution capability capacity and project finance by developing the three projects in parallel.
Louis Coetzee, the chief executive of Kibo, said the acquisition of the gas power project would represent the third site in MED’s portfolio of flexible power plants in the UK.
He said there was significant demand for flexible power projects of this kind and at increasingly attractive economics.
“The acquisition of the Rochdale site is the next step towards the much larger portfolio of 300 MW that MED is aiming to establish in the UK. The MED portfolio currently owned by the company and under active development, comprises 18.4 MW of which 9 MW is already in production, with a pipeline totalling a further 71 MW currently under assessment,” he said.