Company
Kibo Energy PLC
LON:KIBO
Kibo is listed on the AIM market in London and the AltX in Johannesburg. The Company is focused on the development of three thermal coal power projects in Mozambique, Botswana and Tanzania, which all share stable operating environments as well as an acute need for consistent power. Additionally, it is building a portfolio of flexible energy projects in the UK through its 60% owned subsidiary, Mast Energy Developments Limited (“MED”). This has given Kibo an entry to the UK Reserve Power market; in time it plans to introduce the Reserve Power market model to its operations in Africa.
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Kibo Energy plans to spin off renewable/clean energy generation projects
The company said it hopes the new company, Ultimate Sustainable Energy Ltd (USE), will be listed on AIM with funds from the IPO used to fund the development of renewable/clean energy generation projects
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The multi-asset energy development company, notes that its 55% subsidiary, MAST Energy Developments PLC today announced that Close Leasing Ltd, a subsidiary of Close Brothers Group plc have offered facilities to MAST to fund the development
Kibo Energy advances funding deal for EQTEC's UK energy project
Rapid progress has been made towards Kibo joining EQTEC in the project as a strategic investor
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AGM Statement from the supplier of home safety products. "The Company made a good start to 2021 and trading has continued to be on track as the UK eases out of the COVID-19 lockdown restrictions. I am pleased to say that we anticipate that
Kibo Energy to dispose coal-based power projects as it refocuses on renewables opportunities
The company recently launched a review to explore the best ways to extract the substantial value it has created in coal-fuelled projects
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Kibo Energy secures deal with Balance Power to build pipeline of power plant sites
The company said that its UK subsidiary, MAST, is currently on track to roll out its initial 100MW reserve power portfolio
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Kibo Energy boasts "excellent headway" on UK gas power plant
Kibo Energy updated shareholders on further progress at the site, saying it had agreed the site work scope, as well as an advanced engineering, procurement, and construction solution (EPC), and a financing agreement
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Kibo Energy passes first stage in restructuring of Mabesekwa project in Botswana
Local group Shumba Energy is Kibo’s partner on the projects in Botswana.
Kibo Energy focused on four key power projects
'We have four key projects which we are developing in parallel'
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Kibo Energy's first flexible power plant qualifies for capacity market auctions
This week, the European Commission announced that the UK capacity market was compatible with EU state aid rules
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Kibo Energy brings Italian heavyweight as partner in UK intervention operation
Kibo’s UK operation is run through joint venture MAST Energy Developments (MED), where it has a 60% stake.
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Kibo Energy to raise £1.5mln as it focuses on sustainable energy
Kibo has recently pivoted its model to focus on sustainable electricity
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An explanation by Kibo Energy of the Mabesekwa Coal reorganisation
A summary of an interview between Proactive Investors' interview and Kibo CEO Louis Coetzee
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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,”
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Kibo Energy shuffles its deck of coal projects in Botswana
"This reorganization enables us to more fully leverage and de-risk the MCIPP Resource by pursuing three different potential revenue streams"
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Kibo Energy provides strategy overview in comprehensive Q&A
Below is the full text of a comprehensive discussion of the company's operations and plans
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Kibo Energy secures water rights for Mbeya power project
Water rights ensure the project’s environmental impact assessment certification remains valid and gives the power station the right to use large quantities of water
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Kibo Energy’s Mbeya Coal to Power project “rapidly gaining momentum”
The company has now made all the required payments to the Tanzanian Ministry of Minerals related to the final processing and issuance of the mining rights for Mbeya
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Kibo Energy inks key preliminary deals with Vale to advance Benga power project
The agreements with Vale show the 'urgent need and fast-growing demand' for power in the region.
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Kibo Energy receives mining rights for Mbeya, signals green light for development
It constitutes approval and grant of the mining license applications, subject to payments.
SVS goes bust, ceases to be broker to Kibo, Katoro, Sunrise
The broker was founded back in 2003 and had acted for several small mining companies
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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.
Kibo Energy surges as application for Mbeya mining licence converted for “more efficient” approach
The energy firm said splitting the application into seven separate ones would be a more effective approach under prevailing legislation
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Kibo Energy acquires 100% interest in Bordersley reserve power generation project
Kibo previously held a 60% interest in the project through its MAST Energy subsidiary, but it has agreed to issue shares to the other MAST shareholders in return for a 100% interest
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Kibo Energy’s MAST Energy subsidiary finalises 5-year PPA at Bordersley power project
The deal paves the way for long-term revenue creation at Bordersley from the first quarter of 2020, when the plant is due to be commissioned
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Kibo Energy inks collaboration for renewable energy storage
"The inclusion of renewable energy into power station designs allows for higher availability figures from a technical point of view and provides better fundability options,” Louis Coetzee said.
Kibo Energy results highlight ‘transformational’ progress
“2018 was transformational for the company as we reoriented our business and implemented our strategy to be a global energy developer with multiple power projects focused primarily on Africa,” Christian Schaffalitzky said.
Kibo lifted as subsidiary MAST Energy completes acquisition of Bordersley Power site
Under the deal, which was originally announced in May, MAST had acquired a 5MW gas-fuelled power plant which was targeting commercial commissioning at the end of the first quarter of 2020
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Bidstack wilts as warrants are exercised at steep discount to current market price
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Proactive news snapshot: Kibo Energy, W Resources, Sativa Investments …
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Kibo Energy says base case model demonstrates economic robustness and viability of Benga Power Plant
Louis Coetzee, Kibo Energy CEO commented, "The stars are aligning for our major new energy project in Mozambique, Benga, as we continue to advance in its development"
Kibo Energy surges as UK subsidiary agrees to acquire 5MW gas-fuelled power plant
The AIM-listed firm said the sale and purchase agreement with Bordersley Power would also include an option to lease land for a project site
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Kibo Energy says Benga power plant project is advancing ahead of schedule
Kibo Energy said the project is gaining "increasing recognition as a notable energy project in Mozambique".
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Loungers sees good start to first day of trading on AIM
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Kibo Energy gets greenlight to develop Mbeya for export market
Kibo said the project continues to have significant economic and strategic importance for the company, Tanzania and the region
FTSE 100 closes higher after US inflation data
It comes after latest data showed that core inflation in the US was flat last month (March) while consumer spending rose
Kibo Energy appoints corporate finance adviser to look into an up to US900mln project finance corporate credit line facility
The group said the facility could form part of a broader funding package for the construction and commissioning of Kibo's African energy projects as they approach a final investment decision
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FTSE 100 finishes higher as Brexit rumblings continue
Footsie gained around 27 points at 7,418, while FTSE 250 added 234 points at 19,563
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Kibo Energy CEO, Louis Coetzee, reviews a year of progress
"Our projects haven't been pulled out of a hat; they have been chosen for specific reasons after extensive evaluation," Coetzee told shareholders
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FTSE 100 closes lower as Brexit fears permeate markets
The UK's premier share index closed down around 30 points at 7,177
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WH Ireland claws back some recent losses as shareholders OK fund-raising
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Kibo Energy boosted as it completes DFS at Benga power plant ahead of schedule
The energy firm said in an update that a final review of the DFS was now in progress, with negotiations over coal purchase agreements with producers at an “advanced stage”
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FTSE 100 closes higher at traders focus on Federal Reserve's dovish tone
The FTSE 250 though, seen as a better indicator of the state of UK companies, closed down around 41 points at 19,347.
Kibo Energy explains rationale behind recent Sanderson transaction
On Tuesday, Sanderson converted its 2.5% minority stake in the Mbeya Coal to Power project in Tanzania into Kibo shares, taking its interest in Kibo up to 23.4%
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City financier Sanderson ups stake in Kibo Energy as it converts minority interest in Mbeya
Sanderson’s stake in Kibo has risen from 8.2% to 23.4% after it converted its 2.5% minority stake in the Mbeya Coal to Power project in Tanzania into Kibo shares
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Kibo Energy surges as subsidiary inks exclusive agreement to acquire five UK power plants
The energy firm said under the agreement MAST had secured the exclusive right to acquire the plants at no extra cost from a prospective developer
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Kibo Energy looking for clarification as TANESCO rejects tender bid
Had Kibo’s bid proved successful, it would have seen TANESCO buy electricity from the company’s Mbeya project – a 250-350MW mouth-of-mine thermal power station in Tanzania
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Serabi Gold shines as it increases strike extensions at Coringa project
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Kibo Energy makes progress on power stations in UK and Mozambique
UK reserve power subsidiary MAST is negotiating development agreements at two gas-fired sites
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Trans-Siberian Gold announces record quarterly production
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FTSE 100 finishes in red as China growth worries hit global equities
Top laggard on Footsie was oil services giant Wood Group, which shed 4.09% to 524.80p
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Argo Blockchain in demand but Mobile Streams' gains ebb away
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Kibo’s Louis Coetzee updates shareholders on recent progress across portfolio of energy projects
Kibo has a route to near-term cash flow, and several larger longer-term projects designed to meet Africa's increasing energy needs
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FTSE 100 closes lower after struggling to gain ground all day
The FTSE 250 on the other hand, a better gauge of UK companies, added over 180 points at 17,976
Franco Manca and Real Greek owner Fulham Shore rallies after solid first-half results
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Kibo Energy has renewed and expanded its Memorandum of Understanding with Electricidade de Mocambique
The multi-asset, Africa focused energy company said EDM is committing to assist and co-operate towards the successful development of Benga in Mozambique
FTSE 100 closes higher on speculation Prime Minister May will survive Brexit-related no-confidence vote
The benchmark index also gets a boost from optimism over US-China trade talks
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Edenville Energy falls as it notifies shareholders of plans to switch Nomad
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Kibo extends deadline for signing SEPCO III strategic development agreement to March
Kibo is developing a suite of international energy projects
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Pressure Technologies steps on the gas after agreeing to sell its alternative energy division
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Kibo Energy’s UK subsidiary secures exclusive option for potential acquisition of three peaking power sites
The group said it believes that, subject to due diligence outcomes, these sites may have the potential to lead to revenue generation for the group during the latter part of 2019
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FTSE 100 closes lower as UK Prime Minister pulls plug on key Brexit vote
The UK premier index finished down around 56 points at 6,721 on Monday
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Interserve weak as Kier Group cash call comments spark concerns for constructors
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Kibo Energy gets request to extend deadline for Chinese funding
The Kibo board will meet later this week to consider the proposed extension
FTSE 100 clings on to triple-digit gain
The Footsie looked destined to finish well off the top but still sporting a handsome gain following a weekend of deals at the G20 and Opec meetings