Completion of Agreement with IGES to Co-develop Renewable Energy Projects

Source: www.gulfoilandgas.com 7/30/2021, Location: Africa

Kibo Energy PLC, the multi-asset, African focused energy company, is pleased to announce that further to its previous announcements in this regard (see RNS' dated 18 May 2021 and 16 June 2021), it has now satisfied all conditions and completed the agreement with South Africa-based Industrial Green Energy Solutions (Pty) Ltd ('IGES') to jointly develop a portfolio of Waste to Energy projects in South Africa ('the Agreement'). Kibo and IGES have entered into an amendment (the 'Amendment') to fast track the implementation of the first project.

Completion of the Agreement and Amendment follows the positive findings of an extensive due diligence process.

Louis Coetzee, CEO of KIBO said: "We are very pleased with the completion of the Agreement with IGES, and the Amendment provides us with the opportunity to streamline and fast track the further implementation and development of the first project."


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