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25 Jun 2019 | 13:57

Kibo Energy unit inks power purchase agreement with Statkraft Markets

Kibo Energy said its 60%-owned subsidiary Mast Energy Developments had signed a five-year power purchase agreement with Statkraft Markets for its planned 5 megawatt Bordersley Reserve power generation project.

The milestone was reached as Mast focused on the commercial commissioning of Bordersley at the end of the 2020 first quarter.

'Finalizing a PPA with a global player such as Statkraft is a key deliverable in terms of the overall project management plan at Bordersley to deliver a technically and commercially viable project,' chief executive Louis Coetzee said

'With a portfolio exceeding 12 TWh from over 400 customers, Statkraft is a natural partner for us and we are delighted to be working with its team.'

At 1:57pm: (LON:KIBO) Kibo Mining share price was +0.05p at 1.03p

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