Kibo Energy has acquired 100% of a shovel-ready reserve power generation project, Bordersley in Birmingham, from its subsidiary MED.
The project is a 5MW gas-fuelled plant and is targeted for commercial commissioning end Q1 2020. This is the first reserve power generation project being developed by the company’s 60% owned subsidiary, MAST Energy Developments Limited , which is focused on building a initial UK portfolio of around 100MW.
- Clarke Energy as the preferred Engineering, Procurement and Construction contractor
- Encora Energy as the preferred owner’s engineer
- Statkraft Markets for a power purchase agreement
MED remains responsible for, amongst other things, implementation, management and delivery of a development, construction and funding plan for the Bordersley site and thereafter the management and operation of the plant.
Kibo Energy is a multi-asset energy company aiing to become an independent power producer in sub-Saharan Africa. MED is focused on acquiring and developing a portfolio of small-scale reserve power generation projects totalling 100MW, initially in the UK, for grid balancing.